Zcash Company CEO: I don’t see Grin and Beam as competition | Genesis Capital has originated over $1 billion in crypto loans even as the bear market reigns
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BTC Dominance 52.90%
Genesis Capital has originated over $1 billion in crypto loans even as the bear market reigns
Highlights from J.P. Morgan’s latest global blockchain and cryptocurrencies report
“They are fragile and limited on a technological basis. I do not view their underlying technology as being robust.” — Zooko Wilcox, CEO Zcash Company on Grin and Beam
The Big Block
As one of the earlier privacy-centred crypto coins, Zcash has arguably paved the way for a series of newcomers. But Zooko Wilcox, CEO of the Zcash Company, the main developers of the Zcash protocol, told The Block that while he’s glad the likes of Grin and Beam exist, he does not see them as “equals” or competitors.
“They are fragile and limited on a technological basis,” he said. “I do not view their underlying technology as being robust.”
This may relate to Zooko’s confusion with the privacy provision of the Mimblewimble protocol the coins used. “To whom is the user’s private data revealed? Is it revealed to the miners? I don’t understand this part,” he wrote on Twitter last year.
The two new privacy-geared coins have attracted growing attention of late, with Grin recently listed on exchanges KuCoin and OkEx and nearing a Y2050 $8 billion market cap at the time of writing.
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Around The Block
Genesis Capital has originated over $1 billion in crypto loans even as the bear market reigns
Genesis Global Trading, a market making trading firm in New York, announced Wednesday that it has originated more than $500 million worth of loans in digital assets to its institutional clients in the 4th quarter of 2018, pushing their cumulative origination volumes to more than $1 billion over the last 10 months. — More
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