As reported by a user on Twitter and subsequently resumed by the Zcash Foundation, armored transactions reached a remarkable peak in April.
Woo! Number of #Zcash Fully Shielded ᙇ🛡️ᙇ transactions continues to grow; nearly doubling in April 🙌 🥳 z2zhttps: //t.co/LTjo5899Gw | @_garethdavies@ElectricCoinCo @zooko @ZcashFoundation pic.twitter.com/q9SZs6pEXd
– mine Zcash ᙇ🌸 (@mineZcash) May 1, 2020
What can be seen in the graph is very clear: armored transactions, that is, totally private, exceeded the threshold of 8,700 transactions in April, a record achievement considering that during the month of March alone there had been only 5,100. Essentially a 70% increase in just one month.
Furthermore, when checking the data, it is possible to see that there has been a steady and gradual increase in armored transactions since 2019, although it is only from 2020 that the increase has been more significant, which shows that general transactions and, by therefore, the use of Zcash has also increased.
Reason for this new record reached by Zcash
One event that has certainly had an impact on this increase was the introduction of the blockchain development tax, which gave an additional boost to progress and development.
Another novelty that perhaps influenced the increase in transactions could be the introduction of ZEC futures in Binance and, therefore, the fact that more accounts were created and more transactions were made through the exchange.
Surely, the various partnerships and developments that Zcash is implementing, as you can see from the last report, are very encouraging and also from an economic point of view there seems to be no problem at all.
Finally, it must be remembered that this fall there will be a halving of the protocol and, therefore, everyone has changed the bar more towards the future, just like Huobi, who has created an event that aims to guess the price that ZEC will reach after the halving.
The game is now moving to the market, where there has been a positive increase since the beginning of the year, despite the market crash in March that involved both the traditional market and the crypto world, although ZEC immediately rebounded and reached position 26. from CoinMarketCap priced at $ 46.