Zcoin (XZC): cryptocurrency review
Zcoin is an anonymous cryptocurrency, but at the same time, its blockchain enables participants in the process to carry out open-type transactions. That is, XZC has the advantage of open and closed operations.
This cryptocurrency is an offshoot of the Bitcoin cryptocurrency. The total number of coins here is the same – 21 million.
Zcoin team and their progress
As mentioned earlier, the founder and main developer of Zcoin is Poramin Insom. He first founded Vertcoin, but then realized that there was a need for anonymous transactions in the cryptocurrency space.
Since he was led by Matthew Green at Johns Hopkins University, he had the perfect mentor to work on implementing Zerocoin.
He says he’s ultimately going to return to developing Vertcoin, but for now, more attention is being paid to Zcoin. In addition to Insom, there is also the main developer Peter Shugalev, as well as several other developers and members of the Zcoin team.
Features of Zcoin
Speaking about the features of two-type transactions, this advantage allows users in any individual case to decide how to send finances. If the participant in the process chooses an open option, then this process resembles the movement of funds in the PTS. In the case of anonymous sending of coins, they are first “erased” and then recreated, reaching the address of the recipient, if there is evidence that he has the opportunity to generate cryptocurrency in the same amount. It is possible to manage an electronic wallet through TOR
The project is based on zero-knowledge proof. This is a protocol that allows one of the parties to the transaction to verify the correctness of the statement without information from the second participant in the process.
Zcoin mining algorithm – MTP or Merkle Tree Proof.
Zcoin mining on the new MTP algorithm requires a GPU with a large amount of video memory, at least 4 GB. In addition, for mining rigs with 6-8 GPUs installed in it, it is recommended to have 16 GB. Random access memory. But do not worry, the XZC team puts a lot of effort to increase productivity, and therefore the system requirements for optimal mining will be more optimized.
Mining Zcoin to CPU: 4 GB of RAM is required for each active thread, so 32 GB of RAM is required to mine on an 8-core processor in full force.
Using the NVIDIA GPU, you will need to download ccMiner with support for the MTP algorithm. This version of the miner can provide about 1200 kHS on a GTX 1080Ti with lower power consumption, in turn, the RTX 2080 GPU will provide twice the hashrate, but the power consumption will be much higher. CcMiner requires an NVIDIA video driver (CUDA 10).
ZCoin mining on AMD GPU: you need to download the latest version of WildRig Multi 0.15.0.6 mtp.
This type of mining, like the rest, requires a large amount of RAM and video memory.
For more information, you can visit the official Zcoin website (XZC).
By the way, one of the main advantages of the MTP algorithm is full protection against ASIC devices.
The project started on September 28, 2016. Its leader is Poramin Insom.
A whole group of ransomware from D. Hopkins University worked to resolve the problem of completely anonymous transactions.
Zerocoin Electric Coin Company is a company that has set about putting this technology into practice. His goal Z.E.C. Company has designated it as the development of a digital currency similar to Bitcoin, but with the highest degree of privacy and anonymity. As high as possible in our time.
The advantages were that if absolutely all transactions of participants are published in the BTC blockchain and any error can calculate your bitcoin address and track its history, then the Zerocoin blockchain does not provide information about the recipient, nor about the sender, nor about the transfer amount.
This project also attracted the attention of large and reputable investors.
Where can I buy Zcoin
It is very interesting, but most likely not surprising that most of the trading volume goes to AEX, where Zcoin is traded in conjunction with BITCNY. BITCNY cryptocurrency is similar to Tether, only tied to RMB.
China has banned the purchase of bitcoin for its fiat currency due to problems with capital flight.
At first glance, it may seem strange that a certain percentage of rewards for a block goes directly to the owner.
But in fairness, it should be noted that Satoshi Nakamoto owns about one million bitcoins. Insom invented Vertcoin, but admits that he is no longer working on this project due to lack of funding.
Due to the sufficient funding of Zcoin and promising developments in the roadmap, there is reason for optimism regarding its new team.
He returned to Thailand to help his country become a leader in cryptocurrencies with Zcoin.
Another advantage of Zcoin is that its code is based on Bitcoin. It will be relatively easy for them to integrate new developments that appear in Bitcoin code.
Do you believe in Zcoin or not, it is important to know that there is an option for anonymous transfer of funds.
And finally, although Bitcoin in the past abandoned the Zerocoin protocol, if Zcoin proves its viability, it is possible that anonymity will become part of the future of the world’s main cryptocurrency.