20% of the yield goes to the developers when mining the Zcash coin. That was too much for some, the mining too unfair. The Zclassic Coin wants to make mining fairer, but retain all the other advantages of the original currency.
These include remarkable security and anonymity. Whether the new crypto currency can outstrip the promising Zcash project may be seen from the forecast.
Zclassic Coin – What is this Ethereum code?
The Zclassic crypto currency, also called ZCL, is a „hard fork“ from Zcash. Fork means „fork“. The blockchain of the Ethereum code originated from a bifurcation of the blockchain of Zcash, where most of the code of the blockchain is kept and reused. With its original currency, the Z/classic coin shares some effective Ethereum code technologies to guarantee security and privacy in transactions. This is ensured by the Zerocoin protocol, which was originally intended to be implemented in Bitcoin. This protocol enables two types of transactions, public and private transactions. Both transactions are stored and secured on the block chain. The private transaction, on the other hand, makes it possible to encrypt the address of the Zclassic Wallet of the sender and recipient to such an extent that the transaction can no longer be traced. With the zk-SNARK-Proof the transaction arrives nevertheless without problems. Zk-SNARK-Proof stands for „Zero Perception Proof“.
The development was due to the Bitcoin revolution
With Zcash, 20% is paid to the developers when new coins are prospected. This is not uncommon during the Bitcoin revolution, but many people regarded this high mining tax as unfair. Mining means that Zcash users provide their computers and their power to Zcash to create new blocks of blockchain. The yields from mining are a reward. With the Bitcoin revolution crypto currency this tax is omitted. The upper limit of the ZCL Coins should amount to 21 million, which are created in the course of the time.
Another part of the development, where the developers want to do better than Zcash, can be found in the „Trusted Setup Meeting“. This method protects the entire blockchain in the event that one of the developer’s keys is lost. These keys are passwords that give developers access to the source code of the blockchain.