Zcash Surging on 'Cypherpunk Principles' as Bitcoin Alternative: Galaxy Digital

Zcash is being increasingly viewed as an alternative to Bitcoin, emphasizing its privacy features amidst a growing concern over surveillance and centralization in the crypto space. Will Owens from Galaxy Digital notes that since its inception in 2016, Zcash has leveraged its roots in Bitcoin's code while providing enhanced privacy options through shielded transactions. In response to fears that Bitcoin ETFs undermine its reputation as a decentralized cash alternative, Zcash is framing itself as 'encrypted Bitcoin' that honors cypherpunk principles. Recently, Zcash's value surged nearly tenfold, reaching $396, amid broader discussions on privacy in cryptocurrency, particularly as Bitcoin's market experiences significant downturns. Owens highlights that with roughly 30% of Zcash's supply shielded, the network achieves stronger privacy, fostering greater user engagement in these privacy-protective transactions. As Zcash gains traction, interest in other privacy coins like Dash and Decred has intensified, reflecting a market shift towards privacy-focused digital assets.

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