ZenCash, a privacy-focused cryptocurrency hard forked from Zclassic, is recovering well in tune with the general market today. The asset has banked a 6.46% gain against BTC pairing in the last 24hrs after springing off its strong base support. However, trading volumes are still fairly thin at just $747,000.
In the main news recently, ZenCash announced a number of new updates including the new beta launch of network supernodes and the eagerly anticipated rebranding which will be unveiled on August 22nd, according to official sources.
In other news, Zencash Co-founders Rolf Versluis and Rob Viglione were discussing in the latest bi-weekly AMA some general improvements that will take place on the project’s PoW network. These improvements include increasing network security measures in response to the devastating 51% attack that occurred on June 3, 2018, where a hacker was able to gain control over the network and double spend $550,000. There have also been talks of a potential hard fork proposal to change ZEN’s equihash algorithm so that the new Bitmain AntMiner Z9 Equihash rig will not be able to mine the asset. Addressing this ASIC-resistance issue will be critical in maintaining the decentralized nature of the ZEN network and its well-established GPU mining community.
With so many proposed changes to the ZenCash project recently as well as a major rebranding soon, will we see ZEN get catapulted into a new bullish phase or struggle to shake off its recent security issues? Let’s see what the chart tell ...