Bitcoin mining pool giant Foundry officially launches Zcash mining pool, now commanding nearly one-third of the network's hashrate

BlockBeats News, April 13th, according to Fortune reports, Bitcoin mining pool giant Foundry has officially launched a mining pool service for the privacy coin Zcash. This move marks a significant endorsement of Zcash.

Foundry CEO Mike Colyer stated that the launch of the Zcash mining pool was in response to the growing interest of large institutions in so-called "privacy coins." The mining pool has attracted several institutional clients, and its computing power currently accounts for almost one-third of Zcash's total network hashrate.

Zcash is currently the 15th largest cryptocurrency by market capitalization, with a market cap of around $6.3 billion. Launched in 2016, Zcash uses zero-knowledge proof technology to achieve transaction privacy. Meanwhile, its architecture allows for selective disclosure, making it considered more compliant with regulatory requirements than its competitor Monero, thus more attractive to large institutions such as banks.