Review of ZCoin
Before I get started, I want to remind everyone that this is not financial advice. I am not a financial advisor. If you take anything that I say to you as truth, you may get #rekt. Do Your Own Research #dyor
ZCoin is a privacy coin based on the ZeroCoin Protocol. The ZeroCoin protocol was developed by Johns Hopkins professor Matthew D. Green and students, Ian Miers and Christina Garman in 2013. It was developed to be an extension of the bitcoin protocol that would provide true anonymity. In addition to being a transactional currency, it includes strong tested encryption, an auditable supply, better anonymity, and zero-knowledge proofs. In 2014, Poramin Insom wrote a paper on implementing the ZeroCoin protocol into a cryptocurrency with Matthew D. Green and ZCoin $XZC was born. In 2017, Zcoin released its first masternode and in 2018 it was integrated with the TOR Network.
Privacy:
ZCoin provides anonymity and security through Zero Knowledge proofs using the Zerocoin protocol. ZCoin makes improvements on Bitcoin by adding anonymity, security, and privacy to its coin. The Zerocoin Protocol allows users to turn public coins into private coins through a process called “minting”. Under this protocol, a coin is destroyed and then minted again to erase the past history of the coin. While a coin is spent, there is no information available which reveal exactly which coin is being spent. Users of “Minted” coins are not required to reveal any info about themselves; making transactions semi-anonymous. As stated on CoinCentral, “When someone is sent a ZCoin, the person only knows that X amount has been sent to them. Unlike BTC, there is no other unintended identifying information about the send and receiver. Zero-Knowledge proofs ensure that there is 0 information leakage about the sender and receiver of the transaction”.
Blockchain Security:
One of the bright spots of Zcoin is their work to prevent centralization of mining on their blockchain. They want everyone to be able to participate in the ZCoin ecosystem and want CPU mining to remain a relevant way of securing the network. ZCoin has eliminated security centralization opportunities on their blockchain through the use of the MTP algorithm (Merkle Tree of Proof). Merkle Tree of Proof (MTP) is a unique memory hard algorithm that prevents ASIC development and prevents the use of botnets from infecting computers for mining purposes. MTP does this by using Egalitarian Computing; a method which doesn’t allow any mining entity to gain a competitive advantage over others. It establishes the same cost/price structure for miners across all platforms. In addition to MTP, ZCoin provides security through the ZNode Infrastructure. It’s similar to a masternode and requires 1000 $XZC to own one.
Coin Supply and Stability:
10 minute block time with a 50 $XZC reward per block
Max Supply of 21,388,450 $XZC
Current supply of 5.53 million
Market Cap at the time of writing: $53,899,424
All-Time High: 139.77
Price at time of writing: $9.64/(Ƀ0.00150144)
Currently using the Lyra2z mining algo
Max Supply of 21,388,450 $XZC
Current supply of 5.53 million
Market Cap at the time of writing: $53,899,424
All-Time High: 139.77
Price at time of writing: $9.64/(Ƀ0.00150144)
Currently using the Lyra2z mining algo
Conclusion:
I love the $XZC project. It incorporates the best cryptocurrency and security models to provide a superior privacy token. If all time high is any indication as to where this coin could go, I would suggest buying now and hodling until the next bull run. It will be well worth it. Until next time! -Noir
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