Zcash and Bitcoin Cash performs poorly, CoinMall discontinue support
|- Coinbase U.K. also dropped support for Zcash.
- BCH was also delisted from the Japanese cryptocurrency exchange SBI.
The virtual product marketplace CoinMall has announced it will stop support for both Zcash (ZEC) and Bitcoin Cash (BCH) due to a lack of user interest. CoinMall stated that even though they processed hundreds of trades, none were conducted in Zcash, while less than one percent of sales involved Bitcoin Cash (BCH). The crypto community largely supported the decision. One user asserted that both Litecoin (LTC) and Ethereum (ETH) should be next, leaving only Bitcoin (BTC) as the sole crypto payment option. Zcash CEO Zooko Wilcox, in response, thanked CoinMall for posting its rationale.
CoinMall isn’t the only one who terminated support for Zcash. Just two weeks ago, Coinbase U.K. began emailing customers that they will discontinue support for Zcash from August 26, 2019.
A dangerous vulnerability allowing an attacker to mint an unlimited amount of ZEC was announced and patched back in February 2019. Although inflation bugs as such are harmful, most are discovered before they are exploited. However, there is no information about whether this exploit was used, though the Zcash foundation has described it as ‘vanishingly small’ in the Sprout Vulnerability CVE-2019-7167 announcement.
Exploits as such are problematic for privacy-coins. It is tough to figure out if they have been used while blacklisting any resulting coins is practically impossible. However, Zcash has gradually declined since January 2018, losing close to 95 percent of its value at this time. On the other hand, Bitcoin Cash (BCH) was delisted from the Japanese cryptocurrency exchange SBI. Many believe that BCH is used for its intended purpose culminated, while many Bitcoin Cash blocks are practically empty. Despite the surrounding controversies, Bitcoin Cash has still managed to gain over 100 percent YTD this year.
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