ZClassic (ZCL) is one of the cryptos receiving a lot of attention due to enhancing privacy in transactions within blockchain. Users can now select whether or not they want to transact anonymously within the ZClassic platform, a Zcash fork that is built on Bitcoin’s philosophy of no central authority with only like-minded developers making contributions to the network.
Zclassic was forked from Zcash which was named “Zerocash”, a name which did not last for long as crypto gained popularity in 2014. This beautiful enhanced design, Zcash (ZEC), was a result of pulled efforts, young researchers in popular institutions like the MIT, John Hopkins and a few other varsities were among the pioneer developers. Users can now be able access high quality user experience from private coins with the existence of ZCash (ZEC).
It wasn’t long after Zcash launched that the crypto market received a Zcash fork, ZClassic (ZCL). This was officiated through an announcement on Bitcointalk in late 2016, ZClassic was the coin set to solve the inefficiencies in ZCash. This altcoin is more focused on achieving a free market besides its private feature; ZClassic scrapped off the founders reward and let the launch run as per demand as opposed to ZCash which regulated during its ICO.
Why Crypto Needs Zclassic (ZCL)
- Enhanced Anonymity Feature
A significant number of crypto users and businesses adopting the blockchain tech are in constant pursuit of hiding their ID while transacting. ZClassic guarantees the privacy through its option on operating transparently, Bitcoin is yet to reassure its community and interested investors of the long term prospects in scaling their privacy features.
- Relevancy in ZClassic Technology
The Zclassic technology is highly relevant within its scope of design as a marketing and adoption factor within the crypto space. The ZCash technology originally a development of the protocol used in Bitcoin has been a key factor in the high quality working product by Zclassic. ZCash (ZEC) is not comparable to coins such as Monero which tries to cover the same niche addressed by ZCash developers. The research work done on ZCash led to integration of anonymity features in the Bitcoin core protocol, this resulted to a more advanced technology than that of Monero where transactions are private by default.
- Originality of the Protocol
ZClassic (ZCL) is fortunate enough to have its protocol being linked to that of Bitcoin, this among the factors that have influenced the price behavior of cryptocurrencies in the recent past. The ZClassic protocol is built on Bitcoin which saves developers the stress of starting from scratch unlike its peer, Monero.
ZClassic over ZCash (ZEC)
Most Crypto enthusiasts are still trying to figure out the difference between these two cryptocurrencies, this is not a surprise given the confusing nature of their names and one being a fork of the other. However, it is very easy to distinguish what makes these two cryptos different though they are built on the same platform with the same niche, anonymity. ZClassic is more market oriented with an objective of leaving the forces of demand and supply to bring to level ownership of the coin, ZCash on the other hand has a founders reward which has normally not gone well in agent relationships especially in wealth distribution and incentives for participation. Users who opt ZClassic over Zcash will avoid paying a 20% tax for each block that is mined prior to mining half of the total intended ZCL’s. This is well in line with the concept of currency that is being replicated in cryptocurrency.
An investor who wants to own this coin as of press date would have to part with approximately $18.5096 or 0.00164733 BTC for an asset with a 33% liquidity ratio; this is quite liquid in comparison with other cryptocurrencies. ZClassic (ZCL) is ranked at 183 with a market capitalization of $60,451,547 according to coinmarketcap. The coin is traded on various exchanges with Bittrex leading at an average volume of over $39,000,000 within the last 24 hours; prospects for increased trading remain high given the current speculative mood in crypto. ZClassic is quite risky given its 5 day volatility that places it at 3rd position in high risk Micro Cap coins.