Bitcoin mining pool giant Foundry has officially launched its Zcash mining pool, which now accounts for nearly one-third of the total network hashrate.

According to a report by Fortune on April 13th, Bitcoin mining pool giant Foundry has officially launched a mining pool service for the privacy coin Zcash. This move signifies a major 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 pool has already attracted numerous institutional clients, and its hashrate currently accounts for nearly one-third of the total new Zcash production. Zcash is currently the 15th largest cryptocurrency by market capitalization, with a market cap of approximately $6.3 billion. Launched in 2016, Zcash utilizes zero-knowledge proof technology to achieve transaction privacy, and its architecture allows for selective disclosure, making it considered more regulatory compliant than its competitor Monero, and thus more attractive to large institutions such as banks.