Bitzeny is a type of Cryptocurrency which was launched in 2014. For trading purposes, ZNY is used to represent it. The algorithm used in this currency is Yescrypt which is slightly different from that of GlobalBoost-Y. Like a majority of new cryptocurrencies, Bitzeny was not well known and this partly contributed to it dismal performance for the better part of 2017. When the well known alternative currencies grabbed the market’s attention, this crypto was not to be left behind. The other reason why this currency was not performing as it is now is that not many investors were willing to invest in a market where there is no centralized or government control.
While Bitcoin increased at a rate of 40% a week, Bitzeny moved from $0.06 to $0.38 on a single day (December 6). Unlike Bitcoin which can only be mined using special equipment, you just need a PC to mine this one. There is a maximum of 250 million coins and 90 seconds represents one ‘block time’. The halving of the currency happens after every 500,000 blocks.