Gemini founded by Tyler and Cameron Winklevoss, adds support for zcash for, a secure cryptocurrency with a total market capitalization of more than $ 1 billion.
After approval by the Department of financial services of new York (NYDFS), Gemini will begin to accept deposits in the currency, on Saturday, may 19, at 9:30 a.m. EDT.
Gemini operates in 48 U.S. States, Washington D.C., Puerto Rico, Canada, Hong Kong, Singapore, South Korea and the United States.
In addition to the approval and operation of zcash for, the NYDFS confirmed that Gemini will also receive permission to add Bitcoin Cash, the capitalization of which is 25 billion US dollars and Litecoin, the capitalization of which is estimated at 8.2 billion, although details on when these currencies will appear on the exchange are not yet available.
Cameron Winklevoss, President, Gemini explained that the addition of new products was the result of close cooperation with the NYDFS.
Our endorsement makes Gemini the first licensed zcash for-stock exchange in the world. It also makes NYSDFS first regulatory Agency in the world, katorea beginning to work actively with zcash for.
Zcash for technology uses zk-snarks, unlike the technology that underpins the bitcoin network, it does not require that people using it know public addresses to each other. “Zk” means “zero-knowledge” (zero knowledge).
As a result, the cryptocurrency provides privacy for those who need it, regardless of their goals and motives. Besides zcash for technology zk-snark has been integrated into a number of projects with open source, for example, in Quorum, developed by JPMorgan Chase & Co.
To ensure that privacy, zcash for uses unshielded addresses, which provide a lower degree of protection and protected addresses, which provide complete control. Gemini will support the deposits with both addresses, but the removal will only be allowed with the use of unshielded addresses.
We are working to add the possibility of withdrawing funds from shielded locations in the future.
Gemini also sells Ethereum, which has a current market capitalization of $ 74 billion. In the aggregate exchange is the 13th largest in the world and has approximately 1.65% of the total market share of the cryptocurrency exchanges, according to CryptoCoinCharts.