PayBito, a crypto exchange from HashCash running on the blockchain network, HC Net, has announced the upcoming listing of Zcash on the exchange. PayBito supports USD deposit and withdrawals and cryptocurrencies including Bitcoin, Bitcoin cash, Litecoin, Ethereum, Ethereum Classic, Bitcoin SV, native HashCash asset HCX, and several ERC20 tokens.
Zcash was developed and launched in 2016 by top cryptographers who based the underlying protocol of digital currency on the research of scientists from MIT, Technion, Johns Hopkins, Tel Aviv University and UC Berkeley.
Zcash is built to give users control over their privacy. It ensures this by keeping transaction details completely private even though it lists the record of the transaction on a public ledger. Zero-knowledge proofs verify transactions without revealing the transaction amount, its sender, or receiver. However, users can avail selective disclosure features within Zcash to share some transaction details to meet compliances or for audit.
[perfectpullquote align=”full” bordertop=”false” cite=”Raj Chowdhury, MD of HashCash Consultants” link=”” color=”” class=”” size=””]“The team at PayBito is always on the look-out for promising cryptocurrencies to list on the exchange, provided they meet the regulatory directives. With the interest in trading cryptocurrency going mainstream, PayBito will do its best to help its users discover the best cryptocurrencies to trade with on the exchange platform.”[/perfectpullquote]
Zcash eligible to be listed on PayBito
PayBito adheres to defined guidelines and requires potential utility tokens to meet specific standards before they are listed on the cryptocurrency exchange. These include:
- The utility token should be able to prove that its technology works, can deliver on its stated benefits, and create value for network participants.
- The coin should have a team of efficient engineers, architects, and business planners with reliable track records behind it.
- The token should have a consensus mechanism and a profitable future revenue generation model.
- The coin should provide details of its potential scalability, clear milestones setups, and operating expenses.
- It should have favorable Market Distribution analysis and a strong Market Demand.
- The blockchain network of the coin should meet specific set standards regarding changes in market capitalization, nodes, and transaction fees.
- Compliance to regulations is another area that PayBito makes a priority when listing a coin.
- PayBito also looks for a comprehensive white paper that would contain the above information.