Zcash Founder Supports Claim That 'Zcash is Currency'

The founder of Zcash (ZEC) has supported the claim that "Zcash is not a cryptocurrency but a currency," leading to ongoing discussions about the project's identity. Zooko Wilcox is reported to have backed the assertion made by Jeremiah Rogers. While cryptocurrencies are viewed as investment assets, currencies focus on serving as a medium of exchange and a means of value transfer. Zcash, launched in 2016, is a privacy-centric cryptocurrency developed to address the privacy limitations of Bitcoin. Its technological foundation is based on zero-knowledge proofs known as zk-SNARKs, designed to keep transaction information confidential. Recently, it transitioned to a new privacy structure through the Ironwood upgrade. The Zcash community argues that to be used like cash, improvements in acceptance and price volatility are necessary. According to ZECstats on August 1, the proportion of shielded transactions for Zcash was 42.38%, with a daily transaction count of 3,504, a price of $472.76, and a market capitalization of $7.97 billion. This statement reflects an internal discourse aiming to define Zcash as a currency with censorship resistance and financial privacy, but whether it will establish itself as a genuine medium of exchange depends on various factors.