- 1 Zclassic Coin – Introduction
- 1.1 What is Zclassic Coin?
- 1.2 The Zcash Coin Distribution
- 1.3 Zcash Classic in numbers
- 1.4 Is There Enough Room for Both in the Crypto World?
- 1.5 What Contributed to the Emergence of Zclassic?
- 1.6 Who is the Team Behind the Zclassic Coin Project?
- 1.7 The Growing Community of Zclassic Coin
- 1.8 What Should We Expect for Zclassic in the Near Future?
- 1.9 Some Technical Data on Zclassic Coin (ZCL)
Zclassic Coin – Introduction
A few years ago, anyone considered a cryptocurrency expert had heard of the promising Zclassic Coin project. Zcash is considered to be one of the largest crypto projects so far and one that hopes to replace Bitcoin in the long run. But to understand Zcash Classic coin, we must first understand Zcash.
What is Zclassic Coin?
Unlike Bitcoin, Zcash provides an additional level of security and privacy, where all transactions are recorded and published in their own blockchain. Details such as the address of the sender, the address of the recipient and the amount transferred remain private.
The content is encrypted using an advanced cryptographic technique called Snark. This technique ensures the validity of transactions as well as secure accounting.
The Zcash Coin Distribution
A total of 21 million Zcash coins, with 20% of the supply promoted in the first four years (2.1 million coins) go to the founders as a reward. The remaining 80% go to the miners. The Zcash blockchain was put into operation at the end of October 2016 and is currently traded for around $480 per coin.
Zcash Classic in numbers
Zcash Classic or Zclassic coin is an implementation of the Zcash blockchain. It’s a fair, open-source cryptocurrency. When Zcash was launched, it was very difficult for long-term investors to enter the Zcash market at a specific price.
The soft start led to hyperinflation and prices were artificially driven to ridiculous heights. On the first day of trading, there was an offer of about 11 Zcash coins between all miners, investors and stock exchanges.
It was a recipe for disaster when some people paid over 3000 BTC for a Zcash coin! Many others still thought that they would make a bargain at 100 BTC, 50 BTC, 10 BTC and even 1 BTC. Today the coin is trading at 0.075 BTC.
Zclassic coin eliminates the uncertainty of hyperinflation and has a full 12.5 coins started as a block reward. Thus, the corresponding economic model can shape a realistic market and give investors the confidence to participate.
Is There Enough Room for Both in the Crypto World?
In the crypto world, there is plenty of room for the coexistence of many projects. In fact, Zclassic coin complements the Zcash project, as both communities contribute something beneficial. Even the Zcash founder has expressed contentment with the existence of both. Two dedicated parties are working towards a common goal – digital transaction data.
When some people hear about Zclassic coin, they are immediately wary of the whole Ethereum saga (Etherum and Etherum Classic). But people have to realize that this is not the same scenario. The project has no hostility and its relationship with Zcash has only grown.
What Contributed to the Emergence of Zclassic?
It was a combination of things. Initially, the developers were disappointed that they could not participate in the closed investment round of Zcash. They invest in every potential blockchain project and feel abandoned because they did not have the same opportunities.
Looking more closely at the launch of Zcash, the developers did not like the numbers. They could see the immense hype of the whole scene, coupled with the madness of hash power, investor demand and very limited supply. With every major IPO Zcash launched, it was very obvious that they would see ridiculous prices and they did not like it.
The only people who benefited were those who run large mining operations and those who invested in Zcash (seventeen early investors bought a total of 2 million coins privately at Zcash for $15 per coin).
The creation of Zclassic coin offered the community the same opportunities to invest in the project. Zclassic coin offers a decentralized coin without top investors or companies – not a slow start and equal opportunities for all investors. Essentially, Zclassic coin was developed as Bitcoin.
Who is the Team Behind the Zclassic Coin Project?
There is a whole community of active participants. The developers suggest visiting Slack to see who’s involved. You can see all the things that have been created and recognize many of the capabilities that come with them. Everything was done without funding and only with true developer spirit. At this time, there are four active dedicated developers.
The Growing Community of Zclassic Coin
The project started with a handful of people and has grown fast. In just over two weeks, they have become a Slack community of over 600 members and it keeps growing day by day. Everyone contributes to the project in their own way and with their own skills.
What Should We Expect for Zclassic in the Near Future?
The developers are building a bigger, better and stronger community. People are aware that the Zcash project will serve as an alternative investment. If Zcash continues to perform well, many of its investors can choose Zclassic in search of a variety of trusted and growing coins.
Some Technical Data on Zclassic Coin (ZCL)
Zclassic’s daily inflation is around 7200 coins or about 5 BTC. In comparison, Zcash, in just less than two weeks, has made it to about $468,000 or about 620 BTC. The hash rate is 6-7%. ZCL trades mainly on the Bittrex and C-Cex exchanges.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.