According to Grayscale, Zcash has kept upgrading through long bear markets, helped by how it funds development. Bitcoin miners keep all of each block reward.
- Zcash rose over 3% on Monday while Bitcoin slipped 0.3%.
- Zcash Labs launched Zcash JS, calling it “the ultimate JavaScript Swiss-knife for building anything with Zcash.”
- The experimental toolkit lets developers build Zcash apps for the web, servers and mobile, from wallets to data dashboards.
Zcash (ZEC) outperformed Bitcoin (BTC) on Monday as developer group Zcash Labs launched a new toolkit meant to make it easier to build apps on the privacy-focused network.
Zcash Labs announced “Zcash JS” on X, calling it “the ultimate JavaScript Swiss-knife for building anything with Zcash.” The group said developers can use it to build Zcash apps “for the web, server, or mobile.” These could range from wallets and light clients to data dashboards, “to anything that you can imagine,” it said.
According to its GitHub page, the toolkit was an experimental TypeScript software development kit released as a test version. Zcash Labs said it was “committed to actively maintaining it” and building out more tools around it.
ZEC’s price rose over 3% over 24 hours, while Bitcoin’s price slipped by 0.3%. On Stocktwits, retail sentiment around both ZEC and BTC remained in the ‘bearish’ zone over the past day.
About $6.73 million in Zcash futures positions were liquidated in the past 24 hours, with shorts taking the biggest losses at $4.15 million, according to CoinGlass data. Bitcoin saw the opposite trend, with long positions making up $34.69 million of the $54.23 million in liquidations.
Grayscale Highlights Zcash As It Turns 10
The launch coincided with Grayscale’s research note on Zcash, which “turns 10 years old this week.” The firm’s head of research, Zach Pandl, said Zcash has kept upgrading through long bear markets, helped by how it funds development. Bitcoin miners keep all of each block reward, but Zcash miners receive 80%. The remaining 20% goes to a Dev Fund that pays for development and ecosystem projects.
“Most blockchains rely on venture capital or other private funding—Zcash is one of the few networks to build ecosystem funding directly into the protocol,” Pandl wrote.
He pointed to Zcash’s privacy pools as an example. The newest, Ironwood, launched this year to fix a code vulnerability and added “quantum-recoverable addresses,” Pandl said. He said the funding model “may help Zcash stay prepared for a post-quantum future and AI-powered cybersecurity risks.”
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