Delphi Digital unlocks Zcash report highlighting privacy advantages

Delphi Digital just made its deep-dive Zcash report available to the public. Titled “Zcash: Encrypted Money for a Surveilled World,” the report lays out a case that ZEC has been building momentum on multiple fronts: shielded-pool adoption is surging, a major protocol upgrade is on the horizon, and regulatory headwinds have calmed considerably. The headline number is hard to ignore. The share of Zcash’s circulating supply held in shielded pools jumped from roughly 11% to nearly 30% in the span of a single year. Nearly 1 million additional ZEC migrated into shielded addresses since October 2025 alone. Privacy adoption is accelerating Zcash has long offered optional privacy through its shielded transactions powered by zk-SNARKs, a form of zero-knowledge cryptography that lets users prove a transaction is valid without revealing the sender, receiver, or amount. The problem was that most users never bothered to use it. Transparent transactions were easier, and the privacy pool remained small enough that using it could, paradoxically, draw attention. The transaction volume data underscores the growing activity. ZEC recorded approximately $285 million in transaction volume over a 30-day w...