Zcash Reports 70% Increase in Totally Protected Transaction Volume

Zcash Reports 70% Increase in Totally Protected Transaction Volume

Zcash has seen an increase in the number of transactions that are completely protected on its network. Such transactions jumped by almost 70 percent last month, taking it to over 8,700, as per a tweet. It constitutes 6 percent of all transactions made by the network.

The network seems to be on a steady increase for some time already. The amount soared by 100 percent back in March, topped over February. The leap emerges to much more than 250 percent between February and April. Following three years, in November 2019, the first total number of completely protected monthly transactions reached 2000.

The Zcash network enables 2 separate address types. They are either transparent, t-addr, or, z-addr, protected. The transparent addresses permit public access to all transactions on the blockchain.

Many of the monthly increase rates lately might be because the network already lets users conveniently shield transactions. With these transactions, the Zecwallet Lite and Guarda wallet ZEC shielding apps have opened members of the Zcash ecosystem to reasonable convenience.

The 6 percent reflects exclusively protected transactions. For any network service that can be protected in a certain manner or another, this volume represents 23,676, which constitutes 15 percent of the overall network.

In January Zcash released a new program for allocating mining rewards.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.