Zcash Partners With Cosmos, Adding Anonymity In Blockchains

The Zcash Foundation recently announced a new partnership with the interoperability blockchain solution, Cosmos, which will bring about its privacy features to blockchain interoperability. As we can see in the cryptonews, Zcash partners with Cosmos and the teams want to work together and improve both of the blockchain networks.

As you probably know, the Zcash Foundation is a non-profit organization which leads development of the Zcash protocol, which is a privacy focused blockchain. In an announcement that was published on the official website, the partnership with Cosmos was announced as one that will “bring anonymity through the Inter-Blockchain Communication (IBC) protocol-enabled “pegzones.” The official announcement reads the following:

“Our plan is to take advantage of these network effects by giving Cosmos users access to this anonymity set through an IBC-enabled pegzone.”

Now that Zcash partners with Cosmos, we can see the pegzones on the Cosmos network allowing blockchains to connect with each other seamlessly and facilitating sharing data and transactions privately and anonymously.

The partnership will be mutually beneficial for both parties as Cosmos also grows the anonymity set of the Zcash market. The IBC-enabled pegzones are also expected to be launched in two phases as Zcash partners with Cosmos:

1. The first one will be focusedon the ZEC implementations enabling the start of the second phase.
2. The second being the shielded pool implementation on the pegzones.

Furthermore, the IBC-enabled pegzones will provide tokens backed by ZEC tokens in the existing Zcash shielded pool. The Zcash news show that the tokens will be used on the Cosmos system allowing users to trade, stake and use ZEC tokens in the Cosmos ecosystem. From this perspective, the partnership is on-point and the tokens will be used in a magnitude of ways.

Recently, the Zcash Foundation also released its GitHub repositories on the initial design of the Zcash Foundation privacy module – you can find them on this link. Along with that, the rate of development in the ZEC ecosystem turned a gear up since the consensus to set 20% of all miner rewards in January this year.

While the price of Zcash (ZEC) is at the 26th position at $45.43 with a 3.39% surge on the day, the Cosmos news show that ATOM rose by 2.24% to a new price of $2.78 at the 25th position, right above ZEC.