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Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.After debuting on currency trading platforms in October, Zcash took off, hitting an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin, the virtual currency pioneer created in 2009 .To make its mark in the world of virtual currencies, Zcash boasts that it protects user privacy.Wilcox told AFP that he hoped the expanded privacy protection could overcome businesses' reluctance to adopt Zcash as a trustworthy alternative to traditional state-controlled currencies.Virtual currencies are not regulated by any central bank.Nevertheless, despite Zcash's efforts to protect users, the currency itself may be vulnerable to hacking or counterfeiting.
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