Breaking News

ZenCash (ZEN) Goes Vertical after Binance Listing

Cryptocurrency NewsMay 23, 2018 02:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
ZenCash (ZEN) Goes Vertical after Binance Listing

All the markets were in the red, but ZenCash (ZEN) is just now having its 15 minutes of fame following its Binance listing.

ZEN appreciated, achieving a vertical climb against BTC, and in dollar equivalent. ZEN grew to $47.12, nearly 40% overnight, and more than 60% up net in the past seven days. The coin is near its BTC peak, and is yet to repeat the dollar price above $65.

The next few days will show if trading picks up, ahead of the asset’s first anniversary.

Just as ZEN is gaining prominence, the matter of ASIC mining is also on the agenda for this coin. The ZenCash project is now minable by the new Bitmain Equihash machines. The project core team has decided to take an exploratory stance on the issue, while discussing with the community.

A hurried algorithm change is not in the books for ZenCash:

“We value decentralization and our GPU miners who are an integral part of the community. Changing algorithms is an extremely complex activity and we are not going to rush into a decision that may compromise the safety or integrity of the Zen network. It’s important that we take time to conduct research and evaluate options to properly formulate a plan.”

On GitHub, however, the community is generally against ASIC mining, citing centralization and the difficulty to access specialized hardware, even when offered by Bitmain.

ZenCash is a privacy coin with a built-in governance system and a treasury for development holding 8.5% of the mining reward. This helps the ZenCash community grow with some guidance and clear goals. However, there may be disagreement on the ASIC issue.

ZenCash was forked from ZClassic (ZCL) just a year ago, causing a spike and drop in ZCL prices similar to the case around the Bitcoin Private (BTCP) fork. ZenCash is the older project with a more organized team and supporting nodes, hence the ability to reach out and be accepted to Binance.

This article appeared first on Cryptovest
ZenCash (ZEN) Goes Vertical after Binance Listing

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email