Zcash Celebrates Eight Years Since Launch

On October 28, 2024, the community of the privacy-focused cryptocurrency Zcash (ZEC) marked eight years since the launch of its mainnet.

? Join us in celebrating #Zcash‘s 8th Anniversary ?

We’re hosting a special event on Discord with exciting activities happening over the weekend and insights from speakers @zooko, @jswihart, @jackgavigan and @elisehamdon

Plus, take part in our #Zealy event to earn rewards… pic.twitter.com/RsQ4VeE3qB

— ZecHub (@ZecHub) October 25, 2024

In 2016, the mainnet launch was accompanied by high volatility, with the coin’s price at one point soaring to 2600 BTC per 1 ZEC, or over $1.8 million at the time.

Today, the asset trades at $37.3, having gained 34% over the past year, according to CoinGecko. Zcash ranks 140th by market capitalization, with a value of $563.7 million.

In 2020, Zcash creator and former CEO of its developer, Electric Coin Company (ECC), Zooko Wilcox, stated in an interview with ForkLog that the project had achieved significant success over its existence.

Among the achievements, he highlighted the identification and resolution of a critical vulnerability in 2018, as well as the development of the community.

Currently, users are actively speculating about the protection of the Zcash network from quantum computer attacks.

“Zcash already has defenses against possible future quantum computers decrypting old transactions.”

Pay attention to this news and you’ll understand the importance of having ZEC in your bag. pic.twitter.com/BY1IPgtnm1

— yoshi (@yoshi_v1) October 28, 2024

Wilcox discussed the enhanced blockchain security system back in September, but it has only recently garnered attention. According to the developer, quantum computers will not be able to decrypt a transaction without knowing the user’s address.

In 2021, ECC unveiled the Zcash roadmap through 2025. The team described the plan as “aggressive but achievable,” including three key products: a transition to the Proof-of-Stake consensus algorithm, interoperability, and an official ECC wallet.

In 2022, former NSA and CIA employee Edward Snowden revealed his involvement in the launch of Zcash.

Back in December 2023, Wilcox stepped down as CEO of ECC, with the position taken over by the company’s Senior Vice President of Growth, Josh Swihart.