1. PixelPlaygroundHome
  2. Metaverse Insights

Why does ZRX Coin not rise (ZRX Coin Prospect)

• Metaverse Insights • 108 views

Why does ZRX Coin not rise? ZRX Coin has been declining since the 2017 bull mar

Why does ZRX Coin not rise (ZRX Coin Prospect)

Why does ZRX Coin not rise? ZRX Coin has been declining since the 2017 bull market and ICO frenzy. Starting from early 2018, with the stimulation of various promotions, community activities, and continuous price drops in the market, the total valuation of the entire cryptocurrency market has exceeded 4 billion dollars.

The core reason for this is that ZRX issued tokens (ZEC), which is considered to be the pioneer of “Blockchain+”. However, the price of ZRX has been in a continuous decline. Since then, there hasn’t been any noteworthy news – why does ZRX coin not rise?

The following is a translation and compilation by Odaily Star Daily:

Today, I will briefly introduce ZRX (Zerocash), which is an ERC-20 digital asset based on the Ethereum network, supported by zero-knowledge proof technology. It can tokenize other cryptocurrencies such as Bitcoin, Litecoin, and Ethereum Classic as a store of value. By using zk-SNARKS (privacy computing technology), users can transfer all their tokens without paying transaction fees or any costs, and can destroy them at any given time. In addition, ZRX can also be used for decentralized governance voting and staking rewards, and can be implemented through smart contracts. It has completely different functions, making it very suitable for ordinary people to participate.

Currently, most mainstream cryptocurrencies adopt a zero-based encryption protocol, but they have many common characteristics, such as: permissionless and transparent; open-source; high anonymity and security; poor scalability and inability to guarantee security. So let’s explain why these features lead to this phenomenon, that is, the circulation supply of ZRX is decreasing, and liquidity is insufficient; ZRX’s token attributes are the same as Bitcoin’s. So what is “zero-initial coin”? In order to help everyone understand the main uses of ZRX, it is necessary to analyze the connotation of this project. 1. Zero-Initial Coin (ZKR): This is a new type of cryptocurrency that is mainly used to incentivize developers and innovative teams in the community, while ensuring the stability of their systems and avoiding scrutiny. 2. ZRX’s practical scenarios (practical). Specifically, it is mainly to enable people to buy tokens on exchanges. For those who want to acquire more tokens, they don’t need to prepare themselves and don’t have to worry about high transaction costs. 3. Since ZRX itself does not have the characteristics of trustlessness, many platforms choose to use a fragmented technology to solve these problems, including: Automated Market Maker model (AMM); decentralized order book; zero slippage order matching cost (Binance Smart Chain); Cross-chain bridge (Interchain Bridge); Collateralized lending service; Cross-chain bridge. 4. Smart contract mechanism.

ZRX Coin Prospect

ZRX Coin Prospect Analysis: According to zkSync data, as of now, in the past 30 days, the trading volume of ZRX trading pairs reached $83,800, with a growth rate of 13.7%. In addition, due to recent factors such as the rise in zcash prices and the upgrade of the zcash network, there are certain questions in the market regarding this coin. However, there are several important points worth noting: 1. Will ZRX coin experience a major breakthrough? 2. What is its future development direction? 3. Can it leverage RenVM for smart contract functionality development? 4. How to utilize ZKRollup technology to achieve Layer2 scalability solutions (such as Optimisticrollups and Sharding).

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22683/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/09/2023 14:13
Next 08/09/2023 14:36

Recommended articles