All the markets were at a loss but ZenCash (ZEN) is just now having its 15 minutes of fame following its Binance listing.
ZEN appreciated, achieving a tieso climb against BTC, and ter dollar commensurate. ZEN rose to $47.12, almost 40% overnight, and more than 60% up netwerk ter the past seven days. The coin is close to its BTC peak and is yet to repeat the dollar price above $65.
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The next few days will voorstelling if trading picks up, ahead of the asset’s very first anniversary.
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Just spil ZEN is gaining prominence, the matter of ASIC mining is also on the zakagenda for this coin. The ZenCash project is now minable by the fresh Bitmain Equihash machines. The project core team has determined to take an exploratory stance on the matter while discussing with the community.
A hurried algorithm switch is not ter the books for ZenCash:
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“We value decentralization and our GPU miners who are an integral part of the community. Switching algorithms is an utterly sophisticated activity and wij are not going to rush into a decision that may compromise the safety or integrity of the Zen network. It’s significant that wij take time to conduct research and evaluate options to decently formulate a project.”
On GitHub, however, the community is generally against ASIC mining, citing centralization and the difficulty to treatment specialized hardware, even when provided by Bitmain.
ZenCash is a privacy coin with a built-in governance system and a treasury for development holding 8.5% of the mining prize. This helps the ZenCash community develop with some guidance and clear goals. However, there may be animosity on the ASIC punt.
ZenCash wasgoed forked from ZClassic (ZCL) just a year ago, causing a spike and druppel te ZCL prices similar to the case around the Bitcoin Private (BTCP) fork. ZenCash is the older project with a more organized team and supporting knots, hence the capability to reach out and be brought into Binance.