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30% jump in its price; Quinn’s second big deal is moving to stock proofs

The price of the digital currency jumped 30 percent to $ 194 after the Zcash developer announced its plan to move the network mechanism from proof-of-work to stock-proof. ZiKash has other plans that can further affect the price of this digital currency.

to the Report Electric Coin, the company that supports Prius Quinn Zee Cash, announced its official plan for the next three years yesterday. After that, the price of ZiKash increased by 30% from $ 147 to $ 194.

The company, which focuses on privacy, has announced that it will release a dedicated wallet called ECC Wallet in 2022. Over the next three years, the ZiKash network will move from a proof-of-work mechanism to proof-of-stock. This new model is also more compatible with the environment.

Electric Quinn wants Ziksh to play an important role in the emergence of the third generation of the Web; A vision in which data is completely interconnected in a decentralized manner and each user is given an independent part of the web.

In the collective view of society of this decentralized web, individuals have complete control over their data. The company believes that privacy will be a big and constant part of this new model.

Also read: What is Zcash?

Comparison of Zee Cash and Monroe

Zee Cash and its main rival, Monroe, are examples of the Quincy Prius. They use cryptographic technology to hide transaction information such as the address and amount of the transaction and prevent anyone from accessing it.

These digital currencies use a cryptographic technique called Zero-knowledge proof. In this technique, you can record the transaction without having to provide details. All you have to do is show that your transaction is in accordance with the rules of the network. Although only private transactions can be done in Monroe, ZeeCash allows you to carry out public transactions as well.

Zee Cash was launched two years after Monroe on October 26, 2016. This digital currency is originally based on the Bitcoin code and, like Bitcoin, its supply is limited to 21 million units. At present, its monetary market value is $ 2.3 billion and $ 2 billion less than Monroe.

The digital currency peaked at $ 5,941 just one day after launch. Since then, its price has been steadily declining. ZiKash was able to reach the price of $ 880 on July 1, 2018 (July 30, 1997), but until two years later, its price was often less than $ 100.

This year, however, the price of zeolite has risen again. In mid-February, the price of this digital currency reached $ 180 and has never been less than $ 100 since. The price of ZiKash reached its annual peak of $ 318 on May 8 (May 18) and fell again. However, the announcement of Electric Quinn’s future plan caused its price to start a new upward trend last weekend.

30% jump in its price;  Quinn's second big deal is moving to stock proofs
Ziksh price chart (1-day view of Ziksh market / dollar)

Future plans of Quinn Electric Institute

Electric Quinn has announced that it will release an official wallet in 2022 as a first step in its future plan. Electric Quinn can communicate directly with ZeeCash users through this wallet. As a result, the company can “quickly launch new features that may or may not require a protocol change.”

Electric Quinn has announced that the code for this official wallet will be Open-source. Wallet developers can also look forward to the release of a software development package in the future.

In addition, the company has announced that it intends to change the digital blockchain proof-of-work mechanism of this digital currency. In this mechanism, the miners with the most computing power can approve more transactions. The previous mechanism will change to the stock proof model, in which the accreditors with the largest shareholding approve more transactions.

In the stock proof model, less carbon is emitted when extracting the biodegrader. Electric Quinn hopes to ease the downward pressure on the digital currency. Most miners now have to quickly cash in on their income from mining to pay for the large energy bills they used in the proof-of-work process. In the stock proof model, creditors will not have to do this.

The last part of Electric Quinn’s work plan is the ability to work with other Blockchainks. Completing the transition to a proof-of-stock model will open up new opportunities for mid-chain collaborations, such as the use of the Cosmos interactive network.

Electric Quinn hopes to increase its reputation as a Quinn privilege as the digital currency expands in the coming years.

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