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BitGo has Added ZCash | Two Very Secure Bodies Join Forces

BitGo has added ZCash: The “world’s most secure Crypto wallet” startup BitGo has added Zcash (ZEC) coin to its wallet and custodial services as the coin has a strong focus on privacy and security – two very agreeable features for BitGo.

The announcement was made by the company today.

“Zcash is a compelling digital currency that many hedge funds, exchanges, and customers have been asking for because of its emphasis on privacy,” BitGo CTO Ben Chan said.

BitGo already houses Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin and Bitcoin Gold. Zcash will be its seventh addition to its network.

BitGo has Added ZCash

Zcash was formed in 2015 by Zooko Wilcox and claims to be “the first open, permissionless cryptocurrency that can fully protect the privacy of transactions”. It does this by offering two addresses to its users. One type is an unshielded or transparent address which is publicly viewable. Transactions using these addresses are viewable by everyone on the network. However, the second type uses the so-called ‘z-addresses’ and these addresses are shielded meaning users can transfer coins without revealing details such as names, locations, and amounts associated with the transaction. 

Because it expresses an emphasis on the private transferring of coins, Zcash has come under scrutiny for being “too private” and has been accused of being a criminal favorited coin similar to Monero, precisely because of its privacy features. 

BitGo

However, BitGo shares a similar emphasis on privacy and it seems the company appreciates this aspect if Zcash. It is a network that targets institutional investors, offering them instant wallets that have three keys: one held by the company, one held by the clients, and one held on behalf of the user by a third-party as a “Key Recovery Service” (KRS).

According to its website; “BitGo pioneered multi-signature technology, key recovery solutions, zero confirm transaction services and other safety and usability protocols that have enabled businesses to use digital currencies.”

>>Coinbase is Now Offering Crypto Gift Cards!

ZCash Price Today

The news seems to be good for Zcash as the coin has risen today .84% and currently stands at $219.72 USD. It’s not exactly astronomical but any rise is a good rise in the cryptocurrency world!

BitGo has Added ZCash
Source: CoinMarketCap; ZCash Price Today

Featured Image: Deposit Photos/peshkova

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Winklevoss Twins Hire NYSE Executive

Winklevoss twins hire NYSE executive: The Winklevoss twins have turned to an executive from the New York Stock Exchange, hiring Mr. Robert Cornish to oversee Gemini’s use of Smarts. 

Gemini, the Winklevoss’ crypto exchange, has been in action since 2015, and adding Cornish to its team marks another instance of how crypto exchanges are looking to work with traditional financial markets.

Before, it was Coinbase hiring NYSE executives, but now, based on the July 6th announcement, it appears to be the Winklevoss’ turn. 

Winklevoss Twins Hire NYSE Executive 

Today, Gemini announced that Robert Cornish would be joining its team. Cornish, the now-former New York Stock Exchange CTO, will join Gemini management later in July; he had his last day on the job last week. 

Cornish will be in charge of overseeing Smarts, which is a market surveillance technology Gemini is using from Nasdaq. It’s likely Cornish will do this with ease, as he spent most of his time at the New York Stock Exchange overseeing Pillar, an ambitious project. 

Moreover, Cornish will “ensure that Gemini continues to deliver the best platform experience to our customers,” said Tyler Winklevoss.

Elaborating further, Tyler Winklevoss said Cornish will make sure Gemini continues to “set the standards of excellence for the cryptocurrency industry.” 

Crypto Exchanges on the Prowl 

The Winklevoss twins aren’t the only ones to dip into the financial pool. In fact, they are just the latest.

Three days ago, Coinbase – which is Gemini’s rival – hired Peter Elkins from the NYSE to build a market surveillance platform. He’s not the only former NYSE employee working at Coinbase, either. In March, Coinbase hired Emilie Choi and Eric Scro. 

What Else?

Aside from hiring the NYSE executive, what else have the Winklevoss twins been up to? Has Gemini made any more recent announcements?

Definitely! The company has been attending a few conferences, such as the Crypto Evolved conference in June. In addition, Gemini opened Zcash (ZEC) trading on May 22nd. 

The Takeaway

Do you think hiring Cornish was a smart move? Will he accomplish all Tyler Winklevoss hopes for? Or, is it simply a move to get back at rival Coinbase, for hogging all the New York Stock Exchange executives? 

Let us know in the comments below!

>> Stellar (XLM), Cardano (ADA), and Tron (TRX): BIG News

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Freedom of the Press Foundation Accepts Cryptocurrency Donations – Crypto Currency News

As of this Monday, June 18, 2018, the Freedom of the Press Foundation accepts cryptocurrency donations. But what tokens is it accepting?

Freedom of the Press Foundation Accepts Cryptocurrency Donations

The non-profit helps journalists to report on issues such as the “mismanagement, corruption, and law-breaking in government.” The foundation has announced that it is accepting Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Zcash (ZEC).

The foundation hopes to add more cryptocurrencies in the future, but currently, donations can be made to the digital wallets that have been added to the Freedom of the Press Foundation website.

According to the official release, the Freedom of the Press Foundation believes that “decentralized technology has great potential to advance the ability of individuals to resist surveillance and censorship.”

Although the announcement was only just made on Monday, one blockchain company, called Mainframe, has already donated 1,000 ETH to the non-profit foundation, which is approximately $500,000 USD, at the current market value.

In regards to the donation, the Freedom of the Press Foundation has said:

“We are deeply grateful Mainframe has made this critical donation to help Freedom of the Press Foundation protect journalists and whistleblowers, and are excited Mainframe, through their technology, shares our commitment to protecting privacy and freedom online.”

Donations will help to support the foundation’s projects to advance press freedom, including their SecureDrop whistleblower submission platform.

The Freedom of the Press Foundation can be added to a list of non-profits that have begun to accept cryptocurrency donations, including the Red Cross, the Water Project, and even the Ellen Degeneres Wildlife Foundation (where actor Ashton Kutcher donated nearly $4 million worth of Ripple’s XRP to in May).

>> Ethereum (ETH): Casper and Sharding Will Most Likely be Released Simultaneously

The acceptance of cryptocurrencies as a form of donation could be attributed to its growth in popularity. Either way, foundations like the Freedom of the Press Foundation are now opening their doors to a different type of donation that will still help to support them.

Do you think this could lead to other companies or businesses accepting cryptocurrencies?

Featured Image: DepositPhotos/AntonMatyukha

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