In the ever-changing environment that is blockchain, security and privacy are paramount with community and choice following soon after in both importance and trust.
When looking at security and privacy, the Zerocoin protocol is one of the few protocols that have remained constant and unbroken in the everchanging cryptocurrency landscape with different iterations and implementations being made and released. One of the key versions is the reference implementation, ZCoin, with is notable for its respectable privacy-minded approach, with some conformities to the status quo. ZCoin Classic is the other key implementation.
ZCoin Classic is a fork of the reference implementation with a more conservative stand-alone and infrequent centric approach in the space, with both a security-hardened version of the Zerocoin protocol and the intent of keeping to the original values of privacy and security. As such it retains some of the key features of its predecessor with a 5-minute block time and 21 Million Coin Emission. However, ZCoin Classic, to remain competitive with both existing cryptocurrencies and future ones will be doubling it’s per block emission rate.
ZCoin Classic adapted Blake256 from the reference implementation of Decred with a modified header to prevent existing Blake256 ASICs from easily entering into the mining space without hardware or firmware changes. While this may be the case, the ZCoin Classic team intends to remain neutral on the issue of ASICs as a whole.
As a whole ZCoin Classic has retained the notable privacy functionality of ZCoin such as TOR integration which has allowed for anonymity on both the connection and chain level. This has allowed for privacy levels to remain at a level of high-vigilance without introducing incentivized masternodes right off of the back.
That is not to say that ZCoin Classic plans to completely avoid the incentivized masternode model. As of current, it appears that the plan of the team is to first build out a sufficient community and then proceed to outlay the necessary nodes, dubbed “Classic” Nodes. The timeframe expected for this role out is projected to be in 2019. Allowing for those who entered in the height of the market to enter at a lower point.
The coin’s development team’s goals on both use case and standard, are to serve the high risk-level underserved communities such as those that generally need severe privacy such as OTC, dark markets, gaming, porn, marijuana among others.
To entertain high-risk markets and communities, having both fiat and cryptocurrency based cryptocurrencies is vital. To preempt and solve this basic need, Atomic Swaps from existing cryptocurrencies and markets such as Litecoin, Decred, and Zcoin among others. The other entryway that the ZCoin Classic team has purposed and has begun the implementation process of is the Dobitrade Exchange and ATM network which will provide a clear and simplified method to enter the market through a fiat gateway.
ZCoin Classic is planned to be listed on September 1st of 2018.
Follow ZCoin Classic on Twitter at @ClassicZCoin
Check out the ZCoin Classic Telegram at @ZCoinClassic