Don’t forget to copy your private keys, seed words, and passwords on paper pieces or other devices. If you lose them or device will be attacked by malware, you can recover access to your assets. Very useful Coin Swapping exchange, exchange any coin to other coin, I normally used it for swapping my high value coins against small value coins…
That means that everyone in control of Zcash private keys as of block height 570,000 (around July 18, 2019) will be able to use those private keys to access the same amount of Ycash. Those that currently have a vested interest in the future of Zcash (by holding Zcash) automatically have a vested interest in the future of Ycash. Following its fork, Ycash has focused on enhancing its ecosystem and utility. The development and release of YWallet across multiple platforms, including Android, iOS, and desktop, have significantly improved user accessibility and interaction with Ycash. This wallet not only simplifies the management of Ycash but also supports its use in various transactions, making it a cornerstone of the Ycash user experience. As a fork of Zcash, Ycash shares a significant portion of its blockchain history with Zcash, specifically the first 570,000 blocks.
To store coins securely in large amounts, offline paper wallets are used as they provide an extra layer of security for YEC holders. YEC crypto tokens are used as the primary means of transactions within the ecosystem. Ycash, a cryptocurrency that emerged as a chain fork from Zcash, is designed to serve multiple functions in the digital economy. Its primary uses include trading, hedging against market volatility, facilitating remittances, and streamlining payments. These applications are made possible due to Ycash’s ability to offer reduced transaction costs and fast settlement times, enhancing the efficiency of financial transactions. Ycash emerges as a digital currency with a primary focus on enhancing the capabilities of both local and online communities globally.
Multi-currency support
- The best place to store the crypto you have bought is in wallets outside the exchange.
- This aspect of Ycash is crucial for promoting financial inclusion and supporting grassroots economic initiatives.
- 95% of newly issued coins go directly to users via the permissionless, free-market mining process, a process open to anyone in the world with a GPU and an internet connection.
- It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price.
- The Total Supply is similar to stock market’s Outstanding Shares.
These platforms present a few inefficiencies caused by a lack of operability between these decentralized swap platforms. According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping Ycash. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory. Ycash’s price today is US$0.1008, with a 24-hour trading volume of $N/A. YEC is +0.00% in the last 24 hours.YEC has a circulating supply of 15.87 M YEC and a max supply of 21 M YEC.
- These are the project website’s metrics based on Ahrefs Rank.
- These are the project’s quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
- Ycash emerges as a digital currency with a primary focus on enhancing the capabilities of both local and online communities globally.
- Find more crypto exchange options on our Crypto Exchange Tracker.
- The cryptocurrency aims to ensure a wide distribution of coins through mining, with 90% of the total supply allocated to miners.
- That means that everyone in control of Zcash private keys as of block height 570,000 (around July 18, 2019) will be able to use those private keys to access the same amount of Ycash.
This layered security approach ensures that transactions are not only private but also protected against unauthorized access and manipulation. As a peer-to-peer decentralized currency, anyone can store, send, and receive Ycash without the need for a centralized authority like banks, financial institutions, or other intermediaries. It gives a guarantee that your yec is under heightened security.
What factors influence the conversion rate of Ycash to Romanian Leu?
It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price. In addition to wallet development, Ycash has expanded its functionality to include an online wallet system and an escrow payment protection system. Ycash also addresses distribution fairness through periodic updates to its mining algorithm. This strategy aims to ensure that a significant majority of Ycash coins are distributed through mining, promoting a more equitable distribution among participants. Additionally, a portion of the coins is allocated to the Ycash Development Fund, managed by the nonprofit Ycash Foundation, to support ongoing development and community initiatives. The first 570,000 blocks of the Ycash blockchain are the same as the first 570,000 blocks of the Zcash blockchain.
A private note (up to 100 characters) can be saved and is useful for transaction tracking. The ultimate tools for crypto traders to maximize trading profits while minimizing risk and loss. The National Bank of Romania plays a crucial role in maintaining the stability and integrity of the Romanian financial system.
Why sell Ycash?
The utility of Ycash extends to empowering both local and online communities. This aspect of Ycash is crucial for promoting financial inclusion and supporting grassroots economic initiatives. As an evolving digital currency, Ycash positions itself as an experimental project with a vision for fast, borderless transactions that empower communities. Its unique proposition lies in leveraging the strengths of its predecessor while introducing innovations aimed at improving yec crypto distribution fairness and maintaining privacy. Additionally, Ycash sets aside 5% of the coins from the outset for the Ycash Development Fund, which is managed by the nonprofit Ycash Foundation.
These are the project website’s metrics based on Ahrefs Rank. They’re used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project’s website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability).
Organic Traffic – is a metric of how many monthly users visit the project’s website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype. These are the project’s quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
In the past 24 hours, Tether, Bitcoin, and USD Coin have been Ycash’s only three trading pairs, with a total trading volume of 809. The second type, called “atomic swaps,” is the peer-to-peer time-locked technology that used smart contracts. It lets people transfer from one coin to another one without intermediaries, similar to a centralized swap.
Furthermore, the Ycash ecosystem is a perfect choice for building a business. Users can become a Relayer and monetize their product by taking fees on each transaction. We accept USD, EUR, and other local currencies across the world. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies.
This is achieved by inheriting Zcash’s privacy-focused technology, which allows users to conduct transactions without exposing sensitive financial information. This feature is particularly valuable for users seeking confidentiality in contracts and negotiations, offering a layer of security that is increasingly demanded in the digital age. In addition to zk-SNARKs, Ycash’s security is enhanced through a multi-safe design and an approval process that involves both members and owners.
BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency’s lifetime. The Ycash price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. Moreover, Ycash stands out for its commitment to financial privacy and protection.