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Josh Swihart, the SVP of Growth for Electric Coin Company, Zcash's development firm, has become the new CEO.

Zooko Wilcox is stepping down as CEO of Electric Coin Company, the entity behind the development of Zcash.

Electric Coin Co., the primary developer behind the privacy-oriented blockchain network Zcash, said Zooko Wilcox, the project's creator, will step down as CEO and be replaced by Josh Swihart.

To capitalize on the bullish crypto market, investors are turning their attention to finance cryptos with transformative potential.

In recent times, the cryptocurrency community has been buzzing with concerns related to the security of privacy-focused cryptocurrencies, with a particular focus on ZCash (ZEC). These concerns have emerged due to the dominance of a single mining pool, ViaBTC, which now controls more than 51% of ZCash's hashing power.

During the Messari Mainnet event, the company behind the internet browser Brave announced a partnership with the Electric Coin Co. (ECC) and the Filecoin Foundation. These entities are the leading developers of the Zcash (ZEC) protocol and Filecoin (FIL).

In the ever-evolving world of cryptocurrency, the Zcash network has recently found itself facing a significant challenge that has raised alarm bells within the digital currency community. As of September 19, 2023, the Viabtc mining pool has gained control of a staggering 53.69% of the total Zcash network hashrate, casting a shadow over the network's decentralization and security.

The Electric Coin Company (ECC), the entity behind Zcash, has responded to Coinbase and its preventive measures, stating it is aware of the issue.

As of 19 September 2023, the Viabtc mining pool came to control as much as 53.69% of the total Zcash hashrate, raising alarm in the cryptocurrency community.

Coinbase's dedication to the security and integrity of the cryptocurrency space extends beyond providing a reliable trading platform. Recently, the exchange's Blockchain Security Team identified a significant shift in the hash power distribution within the Zcash network, a digital currency known for its privacy features.

Coinbase's Blockchain Security Team has identified a 51% control over the Zcash network's computational power by a single mining pool, ViaBTC. This raises concerns about security vulnerabilities, such as double-spend attacks and censoring transactions.

Privacy coin Zcash is facing a hash rate consolidation crisis.

Crypto exchange Coinbase has increased deposit times to reduce the risk of suffering from a double spend attack.

Recent data shows a single mining pool controls more than 53% of the hashrate for the cryptocurrency network Zcash. On September 19, 2023, the crypto mining pool Viabtc had 4.2 giga solutions per second (GSol/s) of Zcash's total 7.84 GSol/s hashrate. Electric Coin Co.

Coinbase changed the Zcash confirmation requirement to 110 blocks, increasing deposit time from 40 minutes to 2.5 hours.

Shiba Inu (SHIB) and Zcash (ZEC) are recovering after sharp sell-offs last week. XRP is approaching a long-term resistance area.

Cryptocurrency prices had a strong performance during the weekend. Bitcoin price jumped above $26,000, a strong comeback after falling to $24,500 last week. As a result, the total market cap of all cryptocurrencies jumped to over $1.07 trillion. Other altcoins like Shiba Inu, Zcash, Monero, and Kava also jumped sharply.

Binance betrayed our interests with its decision to delist privacy coins. In the long run, it may mean that users leave Binance in the dust.

In four European countries, Binance will pause trading services for a dozen privacy coins, including Monero and Zcash.

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy.

Binance users in France, Italy, Poland and Spain will no longer be able to buy or sell 12 privacy tokens starting from June 26.

Zcash development team ECC announced a reorganization of the company.

These leading privacy-focused cryptos are growing in popularity and their prices have been trending upwards as a result.

The new release, version 5.5.0, is part of an effort to “deliver a solid and reliable user experience.”