Zcoin (XZC)

$6.60379 (-5.47%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
83 $54,143,900.00 $3,562,320.00 8,198,920 XZC 51 -5.47% -2.53% $361.23

Exchange Pair Volume (24h) Price
Bittrex XZC/BTC 69,278.00 0.0006575000
Binance XZC/BTC 262,101.00 0.0006560000
BX Thailand XZC/THB 13,587.71 201.1300000000
Indodax XZC/IDR 13,699.30 95,100.0000000000
Binance XZC/BNB 9,696.21 0.2441000000
Binance XZC/ETH 12,566.98 0.0358450000
Binance XZC/XRP 7,962.81 24.6810000000
Dove Wallet XZC/BTC 2,015.50 0.0006513760
Dove Wallet XZC/TUSD 1.26 6.5857088480
Dove Wallet XZC/USDT 1.31 6.6667509950
Dove Wallet XZC/ETH 30.43 0.0353358390
Dove Wallet XZC/PAX 1.25 6.5525414990
MXC XZC/USDT 2,064,235.00 6.6051000000
AEX XZC/CNC 1,283,676.00 47.4000000000
Upbit XZC/BTC 69,279.00 0.0006575000
Digifinex XZC/BTC 187,506.00 0.0006590000
CoinEx XZC/BCH 325,619.00 0.0220515700
CHAOEX XZC/BTC 290,071.00 0.0006560000
Huobi Korea XZC/BTC 203.03 0.0006560000
HitBTC XZC/BTC 64,651.00 0.0006385000
Huobi Global XZC/BTC 42,055.00 0.0006540000
Digifinex XZC/ETH 13,701.98 0.0359290000
Huobi Global XZC/ETH 7,133.89 0.0356410000
Hotbit XZC/USDT 21,938.00 6.4774480000
Hotbit XZC/BTC 21,693.00 0.0006465800
Hotbit XZC/ETH 20,385.00 0.0353229300
Huobi Global XZC/USDT 12,587.14 6.6706000000
HitBTC XZC/USD 6,887.36 6.5803200000
HitBTC XZC/ETH 12.41 0.0357800000
QBTC XZC/USDT 2,470,790.00 6.5170000000
QBTC XZC/CNYT 2,206,454.00 46.6700000000
CoinEx XZC/BTC 111,567.00 0.0006550000
Sistemkoin XZC/TRY 40,325.00 37.6500000000
Sistemkoin XZC/USDT 3,065.56 6.5500000000
CryptoBridge XZC/BTC 77.78 0.0006555700
Satang Pro XZC/THB 20,402.00 201.7357200000
FEX XZC/BTC 715,791.00 0.0006550000
FinexBox XZC/BTC 2,811,042.00 0.0006203800
Huobi Korea XZC/ETH 0.00 0.0356020000
Dove Wallet XZC/USDC 0.00 6.6632447690
Sistemkoin XZC/BTC 2,012.03 0.0006499400
CoinExchange.io XZC/BTC 0.00 0.0006654300
CryTrEx XZC/BTC 247.05 0.0006465000
CREX24 XZC/BTC 0.00 0.0009900000
Nova Exchange XZC/DOGE 0.01 2,504.5999211800
Nova Exchange XZC/BTC 0.00 0.0006515000
Trade Satoshi XZC/DOGE 0.06 2,346.0284840000
Trade Satoshi XZC/ETH 0.03 0.0325010100
Livecoin XZC/BTC 0.00 0.0000000000
Trade Satoshi XZC/BTC 0.00 0.0006505700
Livecoin XZC/ETH 1.92 0.0053656800
Trade Satoshi XZC/USDT 0.00 6.8034944200

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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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