Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Zcash Forum => Topic started by: BradSow on November 03, 2020, 09:54:29 AM
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ZCash is all set for its first halving ahead this month on November 18 and believed to be one of the major events for the cryptocurrency. Zcash has been losing 38% in the past 90days and only +39% in this year.
Will this halving means a boost to Zcash and attracts more investors?
Privacy Coin ZCash All Set for Its First Halving In Mid-November (https://www.worldcoinindex.com/news/privacy-coin-zcash-all-set-for-its-first-halving-in-mid-november)
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The drop in the price of Zcash over time makes this coin seem like it has no appeal to investors. If Zcash succeeds in halving it will probably give confidence in the survival of this coin
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The ZCash coin appeared in the fall of 2016 as a fork of Bitcoin and also has a limit of 21 million coins. Like Bitcoin, miner rewards will decrease every four years. However, in the case of this coin, the expression is not halving, but quartering, since the reward after a few days is reduced from $ 12.5 per block to $ 3.125. From the extraction of this coin, miners receive 80 percent of the total profit, and 20 percent goes to the development of the project. The same procedure for distributing profits will continue for the next four years.
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The ZCash coin appeared in the fall of 2016 as a fork of Bitcoin and also has a limit of 21 million coins. Like Bitcoin, miner rewards will decrease every four years. However, in the case of this coin, the expression is not halving, but quartering, since the reward after a few days is reduced from $ 12.5 per block to $ 3.125. From the extraction of this coin, miners receive 80 percent of the total profit, and 20 percent goes to the development of the project. The same procedure for distributing profits will continue for the next four years.
Regarding the reduction of the remuneration to miners for each new mined ZCash block, for some reason you can find a different opinion on the Internet. In addition to reducing the reward from $ 12.5 to $ 3.125, it is also indicated that there will indeed be a halving: from $ 12.5 to $ 6.25, and even from $ 6.25 to $ 3.125. This will be the first time that miners' rewards have been reduced, so little is known about this process. This event is scheduled for tomorrow, November 18th, so we'll see it all soon.
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The halving of reward to miners in the ZCash network happened on November 18, as everyone expected. At first, the price of this coin remained at the same level of $ 65, then even dropped by a few dollars. However, now its price has risen to $ 70.35. Perhaps this happened against the backdrop of the general growth of the cryptocurrency market, and it is possible that some investors hope that the price of ZCash will rise after the halving, similar to Bitcoin. Anyway, while this coin is growing.