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Record for Zcash (ZEC) Shielded Transactions
Record for Zcash (ZEC) Shielded Transactions
Blockchain

Record for Zcash (ZEC) Shielded Transactions

By Alfredo de Candia - 4 May 2020

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As reported by a user on Twitter and as later resumed by the Zcash Foundation, shielded transactions reached a remarkable peak in April.

What can be seen from the graph is very clear: Shielded Transactions, i.e. the entirely private ones, exceeded the threshold of 8700 transactions in April, a record-breaking achievement considering that only during the month of March they had been just 5100. Essentially an increase of 70% in just one month.

Moreover, when checking the data, it is possible to see that there has been a constant and gradual increase in shielded transactions since 2019, although it is only from 2020 that the increase has been more significant, showing that overall transactions and hence the use of Zcash have also increased.

The reason for this new record on Zcash

An event that has certainly had an impact on this increase was the introduction of the development tax for the blockchain, giving additional boost to progress and development.

Another novelty that perhaps influenced the increase in transactions might be the introduction of ZEC futures on Binance and hence the fact that more accounts were created and more transactions were made through the exchange.

Surely the various partnerships and developments that Zcash is implementing, as can be seen from the last report, are very encouraging and also from an economic point of view there do not seem to be any problems whatsoever.

Finally, it should be remembered that this fall there will be the halving of the protocol and so everyone has shifted the bar further into the future, as did Huobi who has bet on the event and the price that ZEC will reach after the halving.

The game now moves on to the market, where there has been a positive increase since the beginning of the year, despite the crypto crash in March that involved both the traditional market and the crypto world, although ZEC immediately recovered and reached CoinMarketCap’s 26th position with a price of $46.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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