CAPE TOWN, South Africa, Aug. 29, 2019 /PRNewswire/ -- Zcoin ($XZC) -- an open source, decentralised privacy cryptocurrency -- has now listed on Vinny Lingham-backed cryptocurrency exchange, OVEX, with a South African Rand (ZAR) pairing.
"Zcoin's listing on OVEX will create the opportunity for traders to fill the vacuum in offering privacy with the introduction of $XZC to the South African market especially with the ZAR pairing that opens door to it being readily adopted in the country. This is an exciting development and opportunity to expand in a rapidly developing country where cryptocurrency trading volumes are on the increase," says Poramin Insom, Founder & Core Developer of Zcoin.
OVEX's is the most advanced cryptocurrency exchange in South Africa and offers traders both simple and advanced modes to suit the needs of different traders on a secure and trusted platform.
"We're excited about the potential for growth on this coin, privacy coins are an essential part of the crypto ecosystem and we're very excited to give South Africans access to this opportunity," says Jonathan Ovadia, CEO of OVEX.
As part of the official listing, Zcoin and OVEX will be hosting a community-focused event in Woodstock, Cape Town, to introduce $XZC to users on the platform. Interested attendees can find out more here.
Most recently, Zcoin became the first cryptocurrency to be usable at any of the five million merchants registered via Thailand's nationwide QR code system through the Satang App.
Zcoin has been actively working on the Sigma privacy protocol since early 2018 and the mainnet launch of Sigma marks the first in a series of upgrades in Zcoin's privacy protocol.
Sigma's eventual replacement, the highly anticipated Lelantus which has garnered academic interest, is Zcoin's own independent innovation that further improves on Sigma's capabilities by removing the need of fixed denominations and hiding transaction values. Lelantus is currently in development and scheduled to go on testnet in early 2020.
Zcoin (XZC) is an open-source, decentralized privacy coin that focuses on achieving privacy and anonymity for its users while transacting on the blockchain. It is the first to develop and implement the Sigma Protocol, which allows users to have complete privacy over their transactions via zero-knowledge cryptographic proofs without the need for trusted setup. Zcoin was also the first coin to implement Merkle Tree Proofs on its network for egalitarian mining, as well as the Dandelion protocol which protects user identities by preventing their IP addresses from being tied to a transaction. Prior to Sigma, Zcoin previously pioneered the use of the Zerocoin protocol, one of the most widely used privacy protocols.
OVEX is a mission driven cryptocurrency exchange with the goal of accelerating the advent of an inclusive digital economy. OVEX offers a fiat onramps allowing South Africans to buy and sell cryptocurrencies with South African Rands. The exchange offers over 20 coins and many unique features such as a crypto interest account and token faucet allowing users to buy cryptocurrencies at international rates leapfrogging the price disparity experienced in the South African Market.