ZEC price jumps 20% in one day as Zcash devs unveil transition to Proof-of-Stake
The massive upside move comes as a part of a rebound that started Friday after Electric Coin Company discussed the prospects of moving Zcash to proof-of-stake. Zcash (ZEC) surged by nearly 20% in the past 24 hours, helped by the euphoria surrounding its core protocol's decisive transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).The ZEC price logged an intraday high at $188.80 on Binance after rising two days in a row by more than 27%. The cryptocurrency's move upside also wiped out a big portion of the losses it had faced earlier this week, in the wake of a downside retracement....
Related News
The price of ZEC surged to $243.84 following Silbert’s announcement but has still fallen more than 20% since reaching a six-month high of more than $300 on Thursday. Digital Currency Group CEO and founder Barry Silbert has purchased more ZCash to add to his company’s coffers as the price of the token moved above $240 for the first time in days.In a Wednesday tweet to his more than 678,000 followers, Silbert announced the purchase of $85 million in Zcash (ZEC), or roughly 376,106 tokens assuming an average price of $226. The buy is just the latest for Silbert, who seems to be portraying....
On Friday, Electric Coin Company (ECC), the developers behind the privacy-centric crypto-asset zcash, revealed the network plans to transition to proof-of-stake (PoS) consensus. ECC also revealed the team plans to launch an official ECC wallet, as well as bolster the network’s cross-chain interoperability.
Zcash to Change From PoW to PoS
The Zcash network currently leverages a proof-of-work mining algorithm called Equihash, which allows miners to compete in order to find new blocks on the Zcash chain. In a blog post published on November 19, ECC announced the network will....
The Ethereum Merge is the upcoming transition from proof-of-work to a proof-of-stake system and the Merge is the most important part of the ETH 2.0 upgrade. The upgrade is concerned with the transition from proof-of-work to proof-of-stake consensus. The upgrade as reported has been delayed until the end of 2022, with no firm date on […]
Ethereum’s transition to Proof-of-Stake is inching ever closer after developers agreed to a tentative date for the mainnet merge. The Ethereum Merge may be coming sooner than planned, after core developers announced a tentative Merge date of Sept. 15, which will see the blockchain transition to Proof-of-Stake.The Ethereum mainnet Merge date came into view after core developers such as Tim Beiko and Prysmatic Labs co-founder Terence Tsao agreed in an Aug. 11 developer call it would be when Total Terminal Difficulty (TTD) hits 58750000000000000000000.This was confirmed in a Github post....
Following the successful implementation of The Merge into Ethereum’s Goerli testnet, Ethereum developers confirmed during a Consensus Layer Call livestream that the highly anticipated proof-of-stake (PoS) upgrade is coming this next month on or around September 15th to the 16th. After the Ethereum network’s Total Terminal Difficulty (TTD) hits 58750000000000000000000, the chain will fully transition into a PoS blockchain after starting out as a proof-of-work (PoW) blockchain.
The Merge Has a New Execution Date
Ethereum has some big changes ahead and during....