Here’s Privacy Coins You Should Know Following Grayscale Resumes Investment
On January 12, Grayscale resumed the purchase of crypto trust funds other than ETH and XRP, and ZEN, ZEC, etc., which have been frequently mentioned, are also included in it. Recently, ZEN and ZEC have also led the upward trend of the privacy coins.
Grayscale announced on December 22 that its BTC, BCH, ETH, ETC, LTC trust funds and Grayscale Digital Large Cap Fund (GDLC) are currently not accepting new investments. It is reported that Grayscale will regularly block its cryptocurrency trust funds for so-called “non-public placements.” GBTC repeated this operation in the fourth quarter of 2019.
Michael Sonnenshein tweeted on Jan. 12 that qualified investors can already buy fund shares online. This means that Grayscale is again open to accept new investments following a 20-day suspension.
ICoinTime assures that Grayscale has disclosed new subscription data. Among them, the minimum limit for BTC is $50,000 while the minimum limit for BCH, ETC, LTC, ZEN, ZEC, and XLM is $25,000. However, it’s temporarily unavailable to apply for ETH and XRP.
In fact, the tokens ZEC and ZEN in the Grayscale investment portfolio have been frequently mentioned recently, and they have enjoyed a strong rise following the news.
On Jan. 10, Grayscale founder and DCG founder Barry Silbert mentioned two tokens in the Grayscale investment portfolio ZEC and ZEN. He tweeted that it seems that 2021 will be the year of privacy protection, decentralization and resistance to censorship.
From the beginning of the current market rise, Grayscale Trust has been called the promoter of this Bitcoin bull market. The reason is that in the investment clauses of Grayscale Trust, a mechanism that does not support redemption and a form of dual capital contribution are set up to separate the issuance market from the circulation market.
It has been less than a year since the “312 crash” of Bitcoin in 2020, and the price has increased by nearly 10 times (although it has recently fallen). WeissCryptoRatings, the cryptocurrency rating agency, also tweeted that in this broken world, few things are 100% certain. But in the inevitability ranking, the long-term growth of cryptocurrency is followed by death and taxes, which is an undeniable general trend in the 21st century.
According to public information, in addition to the aforementioned privacy coins, the trust funds that Grayscale has participated in also contained BTC, BCH, ETH, ETC, LTC, XRP, and XLM. This is in line with the context of the development of blockchain technology.
A new blockchain, BCH, was forked on Bitcoin on August 1, 2017. In addition to block expansion, BCH-based smart contract implementation solutions and simple account book protocols are also being explored. It can be said that the emergence of BCH conformed to the historical trend.
Perhaps in people’s mindset, Ripple is a latecomer, but in fact, the origin of the Ripple project is much earlier than Bitcoin. In 2004, Ryan Fugger launched the first version of Ripple. Its goal is to build a decentralized virtual currency system that allows anyone to create their own currency. However, Ripple is currently undergoing regulatory review by the SEC, and the result is unclear.
Stellar is a new payment system similar to Ripple recently launched by McCaleb, the original founder of Mt-Gox and Ripple. The created network boasts the same function as the Ripple payments network. It can transfer any currency, including US dollars, Euros, Renminbi, Japanese yen, or Bitcoin. It relies on Bitcoin blockchain technology and can be used to access 180 currencies in the world within 2–5 seconds, connect banks, payment systems, and the general public, and reduce transaction costs and time delays caused by cross-border payments.
ETC and ETH originally belonged to the same system, but DAO was hacked and more than $50 million were stolen, thus the original chain forked. Ethereum Classic is the original chain, and Ethereum represents a new chain of the branch of the original blockchain.
Compared with Bitcoin, the biggest feature of Zcash is anonymity. Transactions can automatically hide both parties and amounts of blockchain transactions, and only the key holder can see the specific transaction information. Of course, the user can choose who has permission.
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Originally published at https://en.icointime.com on January 13, 2021.
