ZCoin - Private Financial Transactions on the Blockchain
Price Info - https://coinmarketcap.com/currencies/zcoin/
Zcoin is based on the Zerocoin protocol, which makes not only your transactions anonymous, but the sender and recipient addresses as well. Their goal is to ensure privacy and anonymity on the blockchain. The team is led by developer Poramin Insom.
Masternodes were released in Q4 2017 ensuring anonymity for everyone. Also, at the end of December there will be a reward reduction - founders will receive 10% in profits from each mined block.
Zcoin’s goal is to ensure both privacy and anonymity on the blockchain using truly untraceably coins through minting. Based on the Zerocoin protocol, this coin makes not only your financial transactions anonymous, but also the sender and the recipient’s addresses as well. Poramin Insom is the lead developer as well as its founder.
In 2018, ZCoin will be developing their Sigma Protocol, creating a decentralized marketplace where users trade items or Zcoin, alternate wallet, encrypted communication between node peers, salability research, Ethereum port and interledger connectivity.
Zcoin ﬁnished the year 2017 by releasing Zcoin v0.13.4.1, which will help Zcoin scale. It will reduce computation time, prevent blockchain bloat, and incentivize Zerocoin transactions by providing a portion of the block reward. Having an incentivized node structure allows will allow for higher performance nodes, which will form a strong backbone for Zcoin and Zerocoin network.
Zcoin recently released an update that includes performance enhancements, security fixes, and better privacy.
Zcoin also expanded its team.
It’s great to see the Zcoin team expanding, as it made great strides in 2017. First, it made mining on Zcoin ASICs more fairly distributed. It also uses a bitcoin base, which means it can adopt bitcoin improvements easily.
Second, Zcoin implemented Znodes. Znodes will enable the entire system to process more transactions, improving scalability. Further, miners will no longer need to verify transactions, which will improve eﬃciency.
Znodes also have the benefit of locking up supply, which reduces the float of XZC in the market. Each Znode is required to hold 1,000 XZC. Today, there are nearly 3,000 Znodes.
The progress over the year led to increased usage of the network as well. For much of 2017, Zcoin averaged 750 transactions per day. But by the end of the year, it had grown to 4,000.
Looking forward, Zcoin wants to develop a truly secure and private platform that works for everything, from peer-to-peer transactions to more commercial applications.
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