Privacy Coin 'Zcash' Surges Nearly 100% in a Week: The Reasons Behind It

The cryptocurrency Zcash (ZEC) soared to a three-year high on October 1st, following endorsements of its security by notable industry figures. According to CoinGecko data, Zcash's price surpassed $120, marking a 52.5% increase within 24 hours. Over the past year, it has surged by 334.7%, significantly outperforming major coins like Bitcoin, although it remains 96.4% below its all-time high of $3,191.93 recorded in 2018.

Zcash employs a cryptographic technology known as Zero-Knowledge Proof (ZK) to encrypt transaction information...