Zcoin (XZC)

$4.54854 (29.39%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
148 $51,250,800.00 $6,656,720.00 11,267,500 XZC -- 29.39% -0.87% -$1,336.82

Exchange Pair Volume (24h) Price
Binance FIRO/USDT 8,610,520.00 12.1360000000
Gate.io FIRO/USDT 112,293.00 12.1060000000
Binance FIRO/BTC 2,150,306.00 0.0002707000
AEX FIRO/USDT 1,643,517.00 12.2400000000
Atomars FIRO/USDT 13,793.80 12.0819000000
MXC FIRO/USDT 842,478.00 12.2090000000
Atomars FIRO/BTC 3,239.61 0.0002700000
Atomars FIRO/ETH 1,205.19 0.0034710000
Binance FIRO/ETH 695,859.00 0.0035200000
Bittrex FIRO/BTC 114,310.00 0.0002700400
WazirX FIRO/USDT 33,202.00 12.3220000000
Huobi Global FIRO/ETH 143,482.00 0.0033620000
CoinEx FIRO/USDT 24,646.00 11.8090000000
HitBTC XZC/BTC 24,190.00 0.0002700000
HitBTC FIRO/BTC 24,185.00 0.0002700000
HitBTC XZC/USD 15,571.58 12.3210400000
Changelly PRO FIRO/USDT 15,298.14 12.1704900000
Bitcoin.com Exchange XZC/USD 15,271.75 12.1668800000
Bitcoin.com Exchange FIRO/USD 15,271.75 12.1668800000
Changelly PRO FIRO/BTC 23,968.00 0.0002700000
Bitcoin.com Exchange XZC/BTC 23,919.00 0.0002714000
Changelly PRO XZC/BTC 23,839.00 0.0002714000
Bitcoin.com Exchange FIRO/BTC 23,839.00 0.0002714000
HitBTC FIRO/USD 15,686.18 12.3543400000
Bitcoin.com Exchange XZC/ETH 819.41 0.0034950000
Changelly PRO XZC/ETH 821.68 0.0034950000
Bitcoin.com Exchange FIRO/ETH 819.41 0.0034950000
Changelly PRO FIRO/ETH 819.18 0.0034950000
HitBTC FIRO/ETH 825.87 0.0034950000
HitBTC XZC/ETH 827.28 0.0034950000
Digifinex FIRO/BTC 2,249,346.00 0.0002693000
CREX24 FIRO/BTC 392.96 0.0002700000
Hotbit FIRO/USDT 4,805.70 12.2034000000
Hotbit FIRO/BTC 2,037.34 0.0002702200
Hotbit FIRO/ETH 430.35 0.0034980000
CoinEx FIRO/BTC 4,268.83 0.0002598475
FinexBox FIRO/BTC 512,668.00 0.0002937700
Huobi Global FIRO/USDT 1,167,742.00 11.6825000000
BiKi XZC/USDT 1,613,995.00 11.5889000000
Huobi Global FIRO/BTC 421,183.00 0.0002580000
Indodax FIRO/IDR 294,490.00 186,000.0000000000
BKEX FIRO/USDT 394,232.00 11.6539000000
Satang Pro XZC/THB 58,760.00 414.9900000000
Huobi Korea FIRO/ETH 191.95 0.0037040000
Huobi Korea FIRO/BTC 17.23 0.0002700000
Freiexchange XZC/BTC 79.90 0.0002900000

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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