ZenCash (ZEN) Technical Analysis: Big Rebranding in 5 Days, Will ZEN Boom?
Cryptovest
Published Aug 17, 2018 04:22PM ET
Updated Aug 17, 2018 05:40PM ET
ZenCash (ZEN) Technical Analysis: Big Rebranding in 5 Days, Will ZEN Boom?
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 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 ...
This article appeared first on Cryptovest
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Written By: Cryptovest
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