Gate News report: On April 13, Bitcoin mining pool operator Foundry officially launched a new mining pool for the privacy-focused cryptocurrency Zcash. Foundry CEO Mike Colyer said the move is intended to respond to the growing demand for privacy coins from large institutions. The mining pool has already attracted multiple institutional miners, and its output accounts for nearly one-third of all newly mined Zcash on the network. Zcash uses zero-knowledge proof technology to enable transaction privacy, and it also supports selective disclosure to meet compliance needs. Compared with another privacy coin, Monero, it is more favored by institutions. Driven by this news, the Zcash price has risen by more than 75% over the past 30 days, and its current market cap is about $6.3 billion. Foundry currently controls approximately 31% of the world’s Bitcoin hashrate and is the largest Bitcoin mining pool operator globally.
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