Alphabay has been one of the biggest dark net markets for a while now, and their ever increasing range of accepted currencies has aided them in their endeavor to remain relevant. They added Ethereum recently, and are set to add yet another crypto currency in Zcash. This brings Alphabay to a total of four currencies. Bitcoin, Monero, Ethereum, and Zcash. Zcash is an innovate crypto currency that offers much more security than Bitcoin. It does this because it’s block chain is harder to track. It basically has a built in mixer in its code. Since anonymity is a must in the dark net, the addition of Zcash is a great step in the right direction. We will go over the addition in today’s article.
The official webpage issued the following statement regarding Zcash: “With the current network status of the Bitcoin network, we believe that adding
other currencies is a must. A few months ago, we have been asked by several journalists whether we would implement Zcash or not. We decided to move forward and we will accept Zcash payments starting July 1st, 2017.” Their reference to the congestion in the Bitcoin network is indeed a worrying point. Fees have rose in recent months, with it costing almost three dollars worth of Bitcoin to get a transaction confirmed in a timely manner. Isn’t fast confirmation times one of the drawing points for Bitcoin? Anyway, While Zcash is not supported just yet, there is a hard deadline for it to be implemented. July first is only a few weeks away, and Alphabay will be one of the first dark net markets to implement Zcash. Their innovative development and management team is one of the reasons they are so popular. Why else would our whole website be dedicated to them?
Some members of the community accused Alphabay of adopting the young coin in an attempt to participate in a “pump and dump” scheme. These schemes are common in young altcoins, and involve a huge investor buying up a ton of coins. Alphabay in this case, would be akin to the huge investor. As the price goes up to the suddenly increased demand, more and more buyers arrive. Then, the big investor as well as the coin devolopers sell their coins at the increased price to profit, while the new buyers are left with a worthless piece of junk. There are several holes in this theory however. First of all, Alphabay is a trusted marketplace in the dark web. They have no reason to pull off a shady scam like that. They make a ton of money on a daily basis. Second of all, they issued a statement describing why exactly they adopted Zcash. “Since the price of Zcash had been soaring in the past weeks, we believe that this currency has good potential and rising price shows a growing interest from the investor community, especially since the price has been on the rise since the beginning of the year. Until a consensus is reached in regards to the Bitcoin network scaling, we encourage users to use additional currencies to make their purchases, to ensure that all transactions are processed in a timely manner.”
Whether you like it or not, Zcash has been added to Alphabay. This is yet another sign of their innovation and vision. Great add to Alphabay and, everyone benefits!