ZenCash (ZEN) Surges Over 40% After Binance Listing

The privacy-focused cryptocurrency ZenCash (ZEN) went up by over 40% (against USD) within minutes of getting listed on crypto exchange Binance at 02:30 AM (UTC) on 23 May 2018.

The announcement on Binance's website said that Binance would be opening trading for ZEN/BNB, ZEN/BTC and ZEN/ETH trading pairs at 2018/05/23 05:30 AM (UTC).

ZenCash is a fork of ZClassic (ZCL), which was derived from Zcash (ZEC), originally a clone of Bitcoin (BTC). ZenCash has had no premining and no ICO. Lke Bitcoin, it has a fixed lifetime amount of 21 million coins. It is currently mined with a Proof-of-Work (PoW) Equihash algorithm, although it may switch to a new hashing algorithm in the near future in view of the upcoming (June 2018) release of Bitmain's AntMiner Z9 Mini ASIC (Application Specific Integrated Circuit) miner.

One of the interesting things about ZenCash is its partnership with Cardano’s research and development company IOHK (with co-founder and CEO Charles Hoskinson being a senior advisor to ZenCash).

Charles Hoskinson, who is also the co-founder of Ethereum (ETH) and founder of Cardano (ADA), expressed his appreciation for ZenCash via the following tweet in late March:

To learn more about ZenCash's partnership with IOHK, you might enjoy the interview with Robert Viglione, co-founder of ZenCash and Charles Hoskinson on "The Tatiana Show" on YouTube.

In addition to Binance, ZenCash is listed on the 13 other crypto exchanges including Bittrex, and OKEx.

After today's jump in price, as of press time, ZenCash's price is at $45.45, which means a market cap of $177,850,704, and a place (87) amongst the top 100 cryptocurrencies.

 

Featured Image Credit: "data security privacy" by "www.shopcatalog.com" via Flickr; licensed under "CC BY 2.0"