Cake Wallet Expands Privacy Stack With Default Zcash Shielding

• Cake Wallet Integrates Zcash support beyond Monero, allowing shielded addresses by default and transparent address rotation. 
• Alongside Zcash, Cake Wallet adds NEAR intents to allow cross-chain swaps.

Cake Wallet, a Monero- based privacy wallet has expanded its privacy offerings with native Zcash integration that allows shielded transactions by default, which positions the Cake Wallet as a broader privacy platform. 

As per the official tweet posted on January 15 from Cake Wallet, Zcash support ensures anonymity is enabled by default to shielded addresses. With that, users can still select transparent addresses, though Cake Wallet adds a transparent address rotation functionality that creates a fresh Zcash address every time. Thereby, it decreases address reuse and on-chain traceability, and the technique improves user privacy.

With that, Cake Wallet is adding features like passphrase-protected wallets and background blockchain sync to enhance security and usability. Additionally, the Cake Wallet has incorporated the NEAR Intents framework for in-app swaps, leveraging cross-chain technology.

Seth For Privacy, COO of Cake Labs, posted a tweet on why specifically Zcash, while Monero exists already, “we’ve seen in recent months with the rise of privacy as a core narrative for many in the space, often with discussions around Zcash leading the way.”

Also, he said that while Monero remains the significant part of Cake Wallet’s privacy focus, Zcash serves a distinct community with different preferences and use cases. With that, expanding Zcash support allows Cake Wallet to deliver best-in-class privacy while enabling users to seamlessly move between ZEC and other cryptos with a single tap.

As this news comes at a time when Zcash’s primary development team last week resigned from the Electric Coin Company (ECC) due to internal governance disputes involving the bootstrap board.

XMR and ZEC Price Update

XMR stands at the top in the privacy coin sector with a $12 billion market cap, and is currently trading at $667 with 4.74% down; however, it is up about 45% in the past week, at the time of writing. With that, on January 15, it reached an all-time high of $798.91.

While ZEC is currently trading at $406 with more than 5% down today,and it is down nearly 7% in the past week, while the market capitalization stands at $6.7 billion, as per CMC data.

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