PayBito Exchange Announces Plan to List Zcash (ZEC) Privacy Cryptocurrency
PayBito has announced that it will soon list Zcash on its exchange. The platform is built on HashCash which is built on the HC Net blockchain network.
Before the addition of Zcash, the PayBito exchange allowed users to trade the dollar against a variety of cryptocurrencies, including Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, HCX and many other ERC20 tokens.
Developed in 2016, Zcash is a privacy-focused digital currency. It gives users control of their information by keeping transaction details private.
The use of zero-knowledge proofs ensures that transaction records are published on the blockchain, while key details such as the transaction amount and the identities of the involved parties remain confidential. However, there is a provision for selectively disclosing such details in the event that an audit is required.
Raj Chowdhury, the managing director of HashCash, said that the PayBito team is always looking for promising digital assets to list on their exchange platform. He believes that this culture enables their clients to access the most profitable cryptos for trading.
Below are some the requirements a digital asset must meet to get listed on the PayBito exchange.
- The asset must demonstrate the workability of its underlying technology, as well as its benefits to users.
- The asset must have a dependable team behind it.
- The asset must have a consensus mechanism and a feasible model for revenue generation.
- The asset must have a scaling mechanism as well as a roadmap outlining development plans.
- The asset must have a strong market demand and an efficient distribution network.
- The underlying blockchain network must meet certain requirements pertaining market capitalization, transaction fees and nodes.
- The asset must be regulated by the relevant financial oversight authorities.
- The asset must have a comprehensive containing all project details.