Zcoin is a cryptocurrency in the Zerocoin project. Its creators are cryptographers representing Johns Hopkins University. For this purpose, a hard fork was held in the Bitcoin network. The launch took place in 2015. Initially, experts expected to create a coin as an addition to BTC, but the creators quickly realized that it was necessary to develop an independent project with its own Zcoin masternodes.
The idea of the startup was to create a means of payment that would be more perfect than bitcoin. Zcoin was to become the most anonymous cryptocurrency with the highest protection of users' personal data. The BTC blockchain had the necessary developments that could be improved to make the privacy better. That is why it was chosen as a basis. The creators made some changes and launched the coin with the updated protocol of the Proof-of-Work consensus and the lyra2 hashing algorithm.
Zcoin mining is carried out with the help of processors or video cards. XZC is mined in the same way as BTC. First you need to register a wallet in the system, then download the software from the official site of the project. Then you need to register in one of the pools for mining. For example, it can be Zpool, Suprnova, F2 Pool and others. Adjust the Zcoin mining hardware and start the process.
Decentralization. The cryptocurrency does not have a single management node, which guarantees stability.
Anonymity. Zcoin is characterized by increased anonymity, as promised by the creators of the project. Personal data is not required either during transactions or when creating a Zcoin wallet.
High speed of transactions. It takes only 10 minutes to perform a financial transaction in the system.
MTP algorithm. It is necessary in order to equalize the rights of single miners and large farms. In Bitcoin, large miners had an advantage over singles and could make hacker attacks. Thanks to MTP, this is not possible in the new network, according to the recent Zcoin news.
It is possible to store Zcoin in the official wallet. You can download the installation file on the project website. There are desktop versions of storage for all major operating systems, including Windows, Linux, Mac. After downloading, you should install the wallet on your PC and go through the registration procedure. When the installation is complete, you will see a warning from the antivirus, which should be ignored.
It is also possible to store cryptocurrency in some multi-currency wallets. For example, you can use Jaxx, Atomic, Exodus. You can also use the Ledger Nano 5 hardware wallet for storage.
Zcoin is traded at most of the major cryptocurrency exchanges. In particular, it can be bought on Bittrex, Cryptopia, Binance, LiteBit, UPBit. In addition, XZC is traded on less well-known trading platforms, such as CoinSwitch, Exbase, TDAX, Bitsquare, etc. users can Find out the current Zcoin price on Coinmarketcap.
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