Zcoin (XZC)

$6.77121 (5.79%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
114 $72,835,600.00 $23,077,500.00 10,756,700 XZC -- 5.79% -8.77% -$392.05

Exchange Pair Volume (24h) Price
BKEX XZC/USDT 1,579,605.00 6.5900000000
Bitforex XZC/BTC 2,761,998.00 0.0005813500
Bitforex XZC/ETH 2,431,763.00 0.0175768100
Binance XZC/USDT 1,173,853.00 6.5900000000
MXC XZC/USDT 267,378.00 6.5796000000
Binance XZC/BTC 785,527.00 0.0005832000
Huobi Global XZC/USDT 810,455.00 6.5782000000
AEX XZC/CNC 881,969.00 45.8200000000
HitBTC XZC/BTC 323,058.00 0.0005839000
BiKi XZC/USDT 757,483.00 6.5667000000
Huobi Global XZC/BTC 151,429.00 0.0005820000
Binance XZC/ETH 65,485.00 0.0175750000
Huobi Global XZC/ETH 55,474.00 0.0175180000
Bittrex XZC/BTC 54,999.00 0.0005829300
HitBTC XZC/USD 205,117.00 6.5982600000
Dove Wallet XZC/BTC 4,331.05 0.0005829860
Vinex XZC/BTC 7,214.73 0.0005841400
ProBit XZC/KRW 22,849.00 7,825.0000000000
ProBit XZC/BTC 15,893.33 0.0005832000
Dove Wallet XZC/KRW 13.44 7,902.5500000000
Vinex XZC/ETH 14,953.30 0.0175962800
Atomars XZC/USDT 1,362.49 6.6049000000
Atomars XZC/BTC 3,537.77 0.0005846000
HitBTC XZC/ETH 409.30 0.0177310000
Atomars XZC/ETH 315.65 0.0176040000
BitZ XZC/USDT 845,631.00 6.5720000000
Bitcoin.com XZC/BTC 323,327.00 0.0005839000
VCC Exchange XZC/BTC 53,767.00 0.0005829300
Bitcoin.com XZC/USD 205,472.00 6.6045000000
CoinEx XZC/USDT 130,885.00 6.5820000000
Hotbit XZC/USDT 44,514.00 6.0000220000
Bitcoin.com XZC/ETH 409.32 0.0177310000
CoinEx XZC/BTC 137,321.00 0.0005837300
Hotbit XZC/ETH 106,449.00 0.0176120600
Hotbit XZC/BTC 97,208.00 0.0005774300
Sistemkoin XZC/TRY 118,834.00 47.7000000000
FEX XZC/BTC 512,420.00 0.0005831000
Huobi Korea XZC/BTC 61.26 0.0005830000
Digifinex XZC/BTC 548,022.00 0.0005950000
Digifinex XZC/ETH 72,864.00 0.0178670000
Indodax XZC/IDR 27,229.00 99,300.0000000000
Livecoin XZC/BTC 420.54 0.0005914300
Satang Pro XZC/THB 10,329.84 210.0000000000
CREX24 XZC/BTC 262.00 0.0006020000
Sistemkoin XZC/USDT 35,263.00 6.7500000000
Dove Wallet XZC/ETH 487.60 0.0181072000
Dove Wallet XZC/USDT 2.99 7.9499900000
Dove Wallet XZC/PAX 3.41 9.8699900000
Dove Wallet XZC/TUSD 1.16 4.0600100000
Dove Wallet XZC/USDC 1.41 4.2000500000
FinexBox XZC/BTC 6,709,795.00 0.0006179700
Huobi Korea XZC/ETH 362.44 0.0191240000
Sistemkoin XZC/BTC 75,902.00 0.0006065600

Links


Background

Zcoin is a privacy-focused cryptocurrency project that was the first to implement ideas from the Zerocoin project whitepaper written by a group of academics in 2013. By using RSA encryption and zero-knowledge proofs, the project aims to allow users to remain anonymous when sending or receiving payments. Zerocoin was proposed as a way to avoid the pseudonymity in Bitcoin that allows transactions to be traced to a specific user and creates the potential for specific coins to become tied to illicit activity. The project competes directly with Zcash, which is based off a follow-up whitepaper from the same group that proposed Zerocoin. Though they both use zero-knowledge proofs, Zcoin believes that by using well-known RSA technology they can provide more security than the newer zK-SNARKs cryptography used in Zcash and create a more simple setup process compared to Zcash, which requires multiple human participants to generate pieces of the initial network keys from different geographic locations. Zcoin is a rebranding of the earlier Moneta project, which was created from a fork of Litecoin. Founders Poramin Insom and Gary Le launched Zcoin with backing from private investors including Roger Ver, Tim Lee, and Startup Chile, an accelerator run by the Chilean government. Le also helped fund the project with a grant he received through a Thiel Fellowship.

Technology

Zcoin is based on a fork of the Bitcoin Core codebase and uses Lyra2z as its mining proof-of-work algorithm making it mineable by GPUs and to a lesser extent, CPUs. The team plans to release a new mining algorithm based on Merkle tree proof of work (MTP) in the second quarter of 2018, after delaying this integration in 2017. MTP integration aims to create an efficient and decentralized CPU mining network. New blocks are created every ten minutes and the difficulty is adjusted every six blocks. In Dec. 2017, Zcoin initiated a hard-fork to allow for the addition of new non-mining nodes known as Znodes. These nodes are responsible for storing blockchain data which is necessary in the Zcoin network due to the relatively large amount of computational resources and storage needed to facilitate the cryptographic verification process. Nodes are required to stake 1,000 Zcoin (XZC) tokens as collateral and receive a portion of mining fees for their services. In an effort to ensure fair distribution of rewards nodes are shuffled in rank based on when they last received a block reward, with the most recent recipient moving to the bottom of the list. The next node to receive a reward is selected randomly from the top 10% of the list. Nodes must meet certain activity requirements based on the overall size of the network and the confirmations on the collateral transaction. There are currently more than 2,900 active Znodes in the network. Zcoin’s privacy is particularly focused on dissolving the ability to associate certain coins with distinct addresses from the past, thus eliminating traceable coin histories within the network. Using zero-knowledge proofs, users prove that they burned a specified amount of XZC without divulging which particular token within the network was destroyed. Upon XZC burn, a “Zerocoin” is minted by the user, which has no transactional history. When a coin is spent it appears the same as any new coin that had entered the network through a block reward. Unlike other privacy-focused cryptoassets, Zcoin has an auditable supply, due to the fact that the number of coins originally burnt are not hidden. While this can add transparency by allowing others to check that users are using a legitimate process to create new coins, it creates the ability for third parties to see addresses for large holders on the network.



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