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Zcash’s fully armored transactions are up 70%, a new record in April

May 4, 2020

The number of fully shielded transactions in the Zcash network (ZEC) rose by almost 70% in April, reaching a new record of more than 8,700.

After a Tweet May 1st from the ZcashCommunity account, This corresponded to 6% of all transactions, which was historically a record share.

The April result was achieved after an equally impressive March, in which transactions increased 100% compared to February. Overall, the jump from 2,430 fully private transactions in February to 8,721 in April means an increase of more than 250%.

Zcash’s fully armored transactions are up 70%, a new record in AprilZcash’s fully armored transactions are up 70%, a new record in April

On the contrary, It took three years for the fully shielded transactions to exceed the 2,000 per month level that only occurred in November last year.

15% of Zcash’s transactions had a certain protection element

While 6% of the total transactions don’t appear to be much, this only includes those that were fully protected. When considering all transactions with an armored component, this is 23,676 or 15% of the total amount.

Zcash supports two types of addresses: z-addr, which are shielded, and t-addr, which are transparent. Transactions between t-addr types are completely transparent and can be displayed in the blockchain just like Bitcoin transactions (BTC).

Transactions between two addresses z are fully protected, and transactions between the two types of addresses can be shielded (t to z) or unshielded (z to t). It is worth noting that all these three types of transactions with a shielded component improve the privacy of the network.

Why now such a big increase?

Cointelegraph contacted the developer of the Zcash Electric Coin Company to find out if he had thoughts about the latest increase in numbers but had received no response at the time of printing.

Recently though It has become much easier for Zcash users to use armored transactions. Guarda in early April threw Your wallet app for Shielded ZEC. This now joins Zecwallet Lite threw Last November, and by default, private transactions are sent by protecting all transparent ZEC sent to it.

Zcash was also added as an unlimited contract on Binance’s futures platform in February. This coincides with the point at which protected transaction numbers increased dramatically.

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