Lykke to bring privacy pioneer Zcash to the Lykke Exchange
Lykke today announced that the Zcash ZEC token is available for trade on the Lykke Exchange.
The Zcash network has grown from a widely publicized launch in late 2016 to become one of the most recognized names in cryptocurrency. What makes the ZEC token unique among crypto assets is its high degree of fungibility and its capacity for anonymous transactions, thus giving it the properties of a bearer instrument.
Where the bitcoin blockchain achieves security by publishing all transactions publicly, the Zcash blockchain verifies encrypted transactions through an innovative approach called the Zero-Knowledge Proof. By this method, information about the transaction can be verified without revealing the information itself.
“Bringing Zcash to the Lykke Exchange couldn’t be coming at a better time,” said Richard Olsen, Lykke founder and CEO. “Look at the top challenges facing the crypto industry today, the transaction times, the privacy concerns. Then look at how Zcash is meeting these challenges. Their way forward is one well worth considering.”
Members of the Lykke community will be able to buy and sell ZEC tokens directly from the free Lykke Wallet mobile application. The transactions will take place on the Zcash blockchain, so they will be anonymous and secure.
Additionally, the Lykke Exchange will handle the activation of Zcash’s Overwinter upgrade, scheduled for June 2018, entirely in the background. Lykke users will not be required to prepare their accounts for the upgrade or to do anything differently after it has gone into effect.
Overwinter is expected to bring a host of new features and performance improvements, all of which Lykke will support.
Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.
For more information, visit https://z.cash.