ZClassic Coin – A branch of Bitcoin Profit

These include remarkable security and anonymity. Whether the new crypto currency can outperform the promising Zcash project is perhaps shown by the forecast.

Bitcoin Profit – What is this crypto currency?

The Bitcoin Profit crypto currency, also called ZCL, is a „hard fork“ from Zcash. Fork means „fork“. The blockchain of the ZCL Coin originated from a fork in the blockchain of Zcash, where most of the code of the blockchain is retained and reused. With its original currency, the Z/classic Coin shares some effective technologies designed to guarantee security and privacy in transactions. This is ensured by the Zerocoin protocol, which was originally intended to be implemented in Bitcoin. This protocol allows two types of transactions, the public and private transaction. Both transactions are stored and saved on the blockchain. The private transaction, however, makes it possible to encrypt the address of the sender and recipient’s Zclassic Wallet to such an extent that the transaction can no longer be traced. With the zk-SNARK-Proof, however, the transaction arrives without problems. Zk-SNARK-Proof stands for „proof of zero perception“.

The development was due to the mining. With the Zcash, 20% of the cost of mining new coins is paid to the developers. This is not uncommon, but many saw this high mining tax as unfair. Mining means that Zcash users provide their machines and their performance to create new blocks of the blockchain. The profits from mining are a reward. This tax does not apply to the crypto currency. The upper limit of the ZCL coins will be 21 million, which will be created over time.

Another part of the development where the developers want to do better than at Zcash can be found in the „Trusted Setup Meeting“. This method protects the entire blockchain in case one of the developers‘ keys gets lost. These keys are passwords that give developers access to the source code of the blockchain.

Zclassic Coin – Who is behind the crypto currency?

The founder of the crypto currency is Rhett Creighton, who had previously worked on Bitcoin. Since the blockchain is open-source, the whole community is encouraged to contribute to the development and to contribute their own Bitcoin Profit with https://www.onlinebetrug.net/en/bitcoin-profit/ and the code.

Zclassic started as a fork on 5 November 2016, only eight days after the Zcash came onto the market. In the beginning, the only difference between the crypto currencies was in mining, more precisely in the remuneration of the miners. Furthermore, unlike the Zcash, the range of new coins was not limited, the slower mining speed was eliminated for the ZCL Coin. The decision to carry out the Hard Fork was also prompted by Zcash’s closed investment round. Then there was all the hype about the start of the coin, which led to an insane rise in the price. Zcash initially costs 2 million euros, but in the following days the course crashed. Many felt excluded because of the private ICO. Zcla ssic should offer the community the same opportunities to buy the coin and benefit from it.

Posted in blockchain | Leave a comment