A Massive Increment Of Fully-Shielded ZCash Transactions

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • In recent reports, it has been revealed that the quantity of fully-shielded transactions of ZCash (ZEC) has upsurge a monthly all-time high.
  • As per data, there is a sharp increase in the private crypto transactions from March 2020.
  • The ZecWallet team has recently launched a ZEC android wallet to make ZCash more accessible to chunks of crypto users

In recent reports, it has been revealed that the quantity of fully-shielded transactions of ZCash (ZEC) has upsurge a monthly all-time high. As per data, there is a sharp increase in the private crypto transactions from March 2020. Hence, making it popular in the crypto industry.

Increase in the demand for Zcash private transactions

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The critical impact of COVID-19 has distressed the actual state of everything such as global economics, protest, and increased surveillance of the government to stop the spread of coronavirus. Thus, the concern regarding personal privacy has become important. Especially, in the use of private centric digital assets like ZCash, Beam, Monero, and many more.

In this series, by using the MimbleWimble protocol, the Litecoin team is also working on obfuscating transactions.

However, adding privacy to ZCash describes that there is a high demand for private transactions in the crypto market.

Moreover, the below-mentioned chart depicts a better comparison of the shielded transaction since 2016.

Additionally, the high demand for private transactions has been also discovered by BitWage team who are in the process to integrate ZCash. To benefit their employees by giving their paychecks.

The ZecWallet team introduced  ZEC android wallet

Besides this, the ZecWallet team has recently launched a ZEC android wallet to make ZCash more accessible to chunks of crypto users. The special feature of this android wallet is that it has default shielded addresses.

The iOS version of the app is in the pilot stage. The team will update the moment it is available to download. This announcement was shared by the team over Twitter addressing the availability of the app on the Google Play store.

The massive increase in the amount of fully shielded ZCash transactions is an indicator that private transactions will be a future element on all major blockchains. Hereafter, as worldwide interest for security increments.

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