- ZEC/USD trade has been found consolidating around $60 and $50 marks.
- Indicators have now shown $50 market lower range mark as the first pivotal line.
ZEC/USD Long-term Trend – Ranging
- Distribution territories: $65, $70, $75
- Accumulation territories: $45, $40, $35
ZEC/USD market has now got well-defined range spots within which it has been featuring a series of choppy price movements in the last couple of days. The range zones are now found around $60 and $50 marks.
The two SMA indicators are now also found within the range zones a bit over its lower range mark. The 14-day SMA is a bit located below the present market price, but slightly above the 50-day SMA. The Stochastic Oscillators now slantingly point towards south-east direction across range 60. That could be a signal that the market may continue with the current range price movements.
The two SMA trading indicators have now shown that the $50 market present lower range mark as the first pivotal line to be wary of as the bears could find a good entry at that point if eventually broken downwards. A correction against the $60 current upper range mark could also let in a good entry for a bearish entry.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Zcash Foundation and the Electric Coin Co. Agreement Makes Zcash a Stronger Brand
The Electric Coin Co. reportedly is ceding the Zcash trademark for the Zcash Foundation. Zcash Foundation is an independent nonprofit institution that specializes in financial privacy and in development of Zcash. It also engages in some form of community interaction for Zcash.
The agreement was approved and enforced on November 6 this Wednesday. ECC developed and initiated the digital currency, Zcash, in the year 2016, three years ago. It has since then supported the project via research & development, awareness, education, engineering, 3rd party adoption, as well as regulatory associations.
ECC insists on continuing this work but wishes to pass on the obligation of trademark registration and security, to the foundation. It is known that the process of registering the trademark and protecting it, takes more than 500 hours and a monetary expense of over a quarter-million dollars.
The decision is the outcome of negotiations stretched across months. It assists in the advancement of ECC’s two main objectives:
- To further decentralize the currency
- To honor and protect the community’s voice in future prospects of Zcash
The gist is to let the contract transfer the trademark ownership to the foundation with no upfront costs, stipulating rights, responsibilities, or limitations.
If this whole procedure is enforced, the Zcash, as well as ECC, will have to relinquish the trademark rights linked to the Zcash foundation name.
Each party bears the right to defend themselves in favor of adopting its suitable implementation in a blockchain network. But it will only be possible for them to do that with different currency nomenclature, ticker symbols, or logos.
What makes this agreement important?
Zcash is the trademark that safeguards the community against the traitors and thieves. It also offers a legal enactment of governance by ensuring that the trademark is authentic and verified.
The Zcash also does the necessary work around Zcash and its community. Their dedicated actions are crucial for the maintenance of privacy and the firm’s mission to equip all the users with economic liberty and opportunity.
Hence, with this trademark agreement, the Zcash Foundation & the Electric Coin Co. have become strong foundations for the brand. The consolidated legal regulations and expanded power of the community opinion have marked the beginning of a robust crypto empire.
Zcash (ZEC) Warn Users Against Fake Wallet on GitHub
Zcash (ZEC), one of the established privacy-protecting altcoins, has warned users against a fake version of its native ZEC Wallet on GitHub. The team says the fake wallet has an entirely different URL from the official ZEC Wallet repository on GitHub and may contain potentially harmful malware, according to a tweet on October 20, 2019.
Hackers Target ZEC Wallet
In a bid to steal the digital assets of unsuspecting Zcash (ZEC) holders, bad actors have created a fake ZEC Wallet repo on GitHub, asking users to update their ZEC Wallet to the latest version (malicious wallet) to take advantage of its new features.
The Zcash team has revealed that the GitHub repo created by the hackers has a wrong URL and Zcash logo as compared to the official one. The message on the fake platform reads:
“Update to the latest version of ZecWallet and use all it’s features to the max. Use transparent addresses along with shielded addresses and much more.
Latest changes: Dark Mode, translation updates, address validation and other minor bug fixes, improvements.”
In a tweet by a member of the Zcash community, users have been warned to carefully double-check they are downloading from the official ZecWallet GitHub repository to avoid falling victim to this new scam scheme. The team tweeted:
ixing the Loopholes
As reported by BTCManager earlier in February 2019, the Zcash team announced that it had successfully fixed a bug on its network that would have made it possible for rogue actors to create unlimited counterfeit coins.
In September 2019, Duke Leto, a Komodo (KMD) developer revealed that a bug exists in the Zcash source code which could potentially strip users of its shielded address (zaddr) of their privacy by making their IP addresses visible.
As bitcoin and other blockchain-based cryptoassets continue to grow in popularity and use cases, bad actors are constantly on the lookout for new ways to exploit security loopholes on exchanges and other platforms to steal people’s digital assets.
In May 2019 reports emerged that hackers are now hijacking GitHub repositories in a bid to get bitcoin ransoms from developers.
At press time, the price of zcash (ZEC) is up by 1.43 percent at $36.61, with a market cap and 24-hour trading volume of $281.06 million and $128.54 million respectively.
Zcash Community Discloses Fake Version of Zecwallet; Leaves the Crypto Market With Another Potential Scam
With the evolution of the cryptocurrency domain in the current era, there has also been a rise in frauds, thefts, and other illegitimate activities in the digital currencies niche.
Recently, the owners of popular crypto coin Zcash were taken a blow by the news of the discovery of a corrupt and malevolent pseudo version of ZecWallet, the native product of Zcash Foundation. The fake wallet was tracked down by the Zcash community, who also warned the users against the same.
The news came into light on October 20, 2019, through a Twitter post which was also retweeted by the official handle of Electric Coin Company, the proud Zcash curator.
In the past, a bug was discovered in the Zcash implementations and in a major portion of its forks. This had put the metadata containing the full nodes along with protected IP addresses, at the risk of getting leaked.
On October 18, 2019, leading antivirus software providing platform, ESET broke the news of a “trojanized” version of the Tor browser. The main aim of this deceitful application was to conduct the theft of Bitcoin from the owners in the darknet.
The destructive counterfeit version of the Tor Browser was designed to bring havoc in the Russian marketspace. It was injected into the system through two websites and has been involved in the theft of crypto assets from the darknet investors since 2017 by replacing the real crypto addresses.
In the same month, ESET also unveiled another malware named “Casbaneiro” or “Metamorfo.” These malicious programs were designed by the attackers with an intention to attack the banks and crypto services in Brazil and Mexico. Apparently, to date, the trojan has stolen a whopping sum of 1.2 BTC from the market.