Monero (XMR) and ZCash (ZEC) are two coins that saw a lot of investor interest in the period around 2018. Both projects were aimed at being privacy coins, which sought to take decentralization a step further with anonymous transactions. However, regulatory action is likely to see that dream end. Uwerx (WERX) can be a better option for investors with analysts seeing an upside of 6,000%.
Monero (XMR) has only seen its token fall by 50% YTD in the crypto bear market exhibiting better performance than most. Monero (XMR) is a Private, decentralized cryptocurrency that keeps finances confidential and secure. That has been a good place to park money but in the future, it is hard to see regulators allowing private transactions. The coin may rally before some intervention comes.
Governments and regulators are circling the crypto industry and central banks have planned their own digital tokens, known as CBDCs. When that comes to fruition the government will use the technology to hunt more taxes and shut down the underground cash economy. When that happens, investors are unlikely safe in privacy coins.
ZCash is another privacy coin and recently, the founder of Ethereum, Vitalik Buterin said that he hoped to see ZCash follow the Merge to a Proof-of-Stake architecture. The energy-intensive Proof-of-Work mining is another headwind for these privacy tokens. Ethereum’s upgrade to PoS saw its energy usage drop by over 99% and that would please lawmakers with energy concerns in the current climate.
Buterin said: “I’d say should … as PoS matures I would expect it to increase in legitimacy over time. I hope ZCash moves over, and I am hopeful Dogecoin moves to PoS soon”. Any move by ZCash (ZEC) would distract its developers, but it could lead to a price jump if it was announced and ETH has already proved it can be done. Buterin and his developers would also assist to make it happen quickly.
Uwerx can be a project to keep investors away from the glare of regulators. The project is seeking to bring a decentralized platform to the freelance work environment that can bring benefits to employers and workers. Uwerx can reduce fees and speed up payments by a large amount, and it can also use the digital ledger to provide more transparency and data security.
Uwerx will have a first-mover advantage in this area and that can allow it to build without competition. The current players in the freelance work industry are cashing in with Upwork seeing $3.5 billion in bookings in 2021, compared to $2.5 billion a year earlier.
The pandemic has increased the trajectory of the uptrend in digital workers and Uwerx can benefit from the timing. It is no surprise that analysts see a 6,000% upside for Uwerx after its presale is complete.
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
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