Cryptocurrency Coin Guide – ZCoin
Cryptocurrency: Zcoin (XZC)
Official Website: https://zcoin.io
What is Zcoin?
Zcoin XZC is a cryptocurrency with a focus on private and anonymous blockchain transactions. Employing Zero-knowledge proof cryptography, transactions remain anonymous, and the transaction history of coins cannot be tracked. Via the continual process of minting and burning coins, anonymity of the user is protected, eliminating the chance of identifying any previous transactions which is not possible with most cryptocurrencies. Zcoin aims to promote and ensure genuine freedom of commerce built around XZC, creating the groundwork of the genuinely private and decentralised ecosystem.
Zcoin Coin Statistics
Circulating Supply 6,770,588 XZC
Total Supply 21,400,000 XZC
All Time High $139.77
Consensus Algorithm Merkel Tree Proof
Average Block Time 5 Minutes
Transaction Cost 0.01 XZC
Transaction Speed 5 Minutes
Mining: CPU & GPU (ASIC Resistant)
Staking: Znode Block Rewards
Block Explorer https://explorer.zcoin.io/
Social Media Statistics
Twitter Followers 58,700
Telegram Group Users 12,534
Matthew D. Green (Professor at Johns Hopkins University) and his graduate students planned a cryptographic protocol to enhance the secrecy and anonymity of Bitcoin transactions. This protocol was applied into a completely functional cryptocurrency by Zcoin founder Poramin Insom. Since its beginning, Zcoin has established its team to include big members with a wealth of academic experience in computer science and cryptography.
Since Zcoin’s launch in 2016, the venture has been reliably advancing and building up the coin and blockchain. Having been recorded on numerous respectable exchanges, for example, Bittrex and Binance right off the bat, a solid establishment of exchanges and clients has helped build their anonymous network.
The Dandelion protocol was published which allowed users to hide their IP address sent using The Onion Router TOR or Virtual Private Networks. This has additionally increased the level of privacy and anonymity for users of Zcoin.
On December 10th, 2018, Zcoin activated their next generation proof-of-work algorithm MTP. The MTP stands for Merkle Tree Proof and is based on academic papers designed to even the odds between large scale miners and those who have smaller amounts of computing power. Through the implementation of this algorithm on the Zcoin blockchain, it decentralises mining from the hands of a small few and gives rewards back to general users.
The MTP release on Zcoin main net has halved the block time to 5 minutes improving the speed in which transactions can be verified and completed.
As they have made substantial headway upgrading Zcoin as a privacy focused cryptocurrency, the team is still considering the implementation of further improvements. A development that is ongoing is the plan to implement a sigma protocol reducing the size of Zerocoin proofs and leading to Zcoin being up to 75% more scalable and increasing security.
Zcoin Zero-Knowledge Proofs
Zcoin is centered on Zero-knowledge proof cryptography, allowing users to send and receive coins without disclosing any previous transaction history. With the Zerocoin protocol, coins go through a cycle of burning and minting to safeguard that any transaction history of the coin has been removed.
With bitcoin and other altcoins, transactions are broadcasted and recorded in a publicly distributed ledger. This unchangeable record used with external information can be used to detect individuals and companies.
For them to anonymise coins, the Zcoin protocol makes the users burn their Zcoin in return for Zerocoins for a fee of 0.01 XZC per transaction. These Zerocoins can be redeemed for Zcoin at any time or at the time of spending. Currently users can only mint Zerocoin in predetermined denominations of 1, 10, 25, 50 and 100 to anonymise their transaction within the overall network.
Users wanting to spend their coin are able to convert the untraceable Zerocoins back to Zcoin after they have been verified by zero-knowledge proof. The brand new minted coins will enter into circulation without previous transaction history and they can be spent in any denomination.
Where to store Zcoin
Zcoin have produced and official wallet to hold XZC details can be found on their website: https://zcoin.io/get-zcoin/
The official wallet can be used on desktop devices running Windows, Mac or Linux. There are several mobile wallet providers also integrated with Zcoin with examples such as Coinomi, Edge Wallet and Cobo Wallet with Android and IOS compatibility. Zcoin support has been included on hardware wallets such as Ledger Nano S and the Trezor devices.
It is strongly recommended you keep you coins safe and secure in trusted wallets and ensure you create a back up to retain emergency access.
Where to Buy Zcoin
With protection proceeding to be a developing worry of present day society, it is inescapable a blockchain and digital money, for example, Zcoin will get development and appropriation. Giving a genuinely mysterious biological system Zcoin has advanced on customary blockchains making enhancements to assurance of client protection. Being against incorporated mining and association with a lot of processing power, Zcoin engages people supporting the organization and guarantees the life span of its biological system. Having a profoundly gifted group and steadfast network supporting the task, Zcoin has driven the advancement of protection coin developments. Its nitty gritty guide demonstrates numerous imaginative highlights are set to be delivered later on. Regardless of rivalry, Zcoin has kept up a position among the best 100 cryptocurrenies.
Zcoin Website: https://zcoin.io/
Zcoin Block Explorer: https://explorer.zcoin.io/
Zcoin GitHub: https://github.com/zcoinofficial/zcoin
Zcoin Whitepaper: https://whitepaperdatabase.com/zcoin-xzc-whitepaper/
Bitcoin Talk: https://bitcointalk.org/index.php?topic=1638450.0