Zcoin is another famous privacy-centric cryptocurrency, just like Dash, Monero, and ZCash. Through its Sigma technology, Zcoin can attract a lot of attention from crypto enthusiasts. Especially from those who prioritize privacy over speed.
In this article, you will learn a little about Zcoin and get a price prediction for 2020
What is Zcoin? – Summary
Not to be confused with ZCash (ZEC), Zcoin is the first privacy-centric coin that has managed to fully implement the Sigma Protocol.
Zcoin uses three different implementations to make itself unique compared to other blockchain networks.
First of all, Zcoin uses Sigma technology. This prevents counterfeit coins from being minted and inflating the coin supply.
Second is the combination of Tor and Dandelion. This combination of software can help hide your IP address when broadcasting a transaction to the network.
Zcoin also uses Merkle Tree Proof (MTP). With MTP, the Proof-of-Work mechanism is resistant to ASIC mining. This enables individual miners to enter the game.
Just like other privacy-centric coins, the ideology of Zcoin is to enhance privacy on the blockchain. For the Zcoin team, being decentralized and secure alone isn’t enough.
Transactions on a public blockchain network must respect the privacy of its users as well. Zcoin is not without competition. There are more famous privacy enabled coins in the blockchain space, including Monero, ZCash, and Dash.
Zcoin In The Crypto Market Today
Zcoin (XZC) has a decent position in the crypto market. At the time this post was written, Zcoin was ranked 91st by market cap. The market cap is $41,462,742 USD, with more than $8 million daily trading volume. Each Zcoin is worth $4.78 USD. You can trade, buy, or sell Zcoin on many crypto exchanges, including CoinEx, MXC, FEX, Binance, Huobi, Hotbit, Sistemkoin, and Bittrex.
During its peak in December 2017, the Zcoin price climbed to more than $100. However, the price went down sharply following the infamous crypto market crash in 2018. It has not fully recovered since then. In fact, it’s been steadily decreasing.
Zcoin Price Prediction
Price predictions are always a complicated topic. Bitcoin and altcoins have been going up and down very sharply, but we can try to predict a pattern based on what they did in the past.
Following 2016’s Bitcoin block reward halving, the Bitcoin price kept going up until the end of 2017. After the 2018 crash, analysts predict Bitcoin could repeat the same movement again. The next block reward halving is in 2020.
So far in 2019, cryptocurrencies have been generally moving upward. Bitcoin was below $4000 at the beginning of the year, but now it is above $8000. If Bitcoin can keep its momentum in 2020, it’s quite possible for other cryptocurrencies (including Zcoin) to rise as well.
Assuming Bitcoin can break $15000 before the end of 2020, Zcoin might be able to go as high as $10. The opposite scenario is also possible. If Bitcoin goes lower than $5000, it is very possible for Zcoin to get to less than $2. Many lower ranking altcoins move in the same direction.
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