Zcoin – Built For Anonymous Transactions
What Is Zcoin, Precursor To Zcash?
Zcoin is a privacy-featured cryptocurrency, using Lyra2, which is based on the Proof of Work algorithm similar to Bitcoin and Zcash. It implements the Zerocoin protocol, which enables the encryption of transactions using zk-SNARKS (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), another feature also similar to Zcash.
Zk-SNARKS work by allowing fully encrypted transactions to be confirmed as valid on the network, the Zerocoin protocol is the precursor to the Zerocash protocol, which was later developed for the Zcash.
How Does It Stand Out Against Rival Privacy Coins
In an industry where regulations are a concern, privacy is something in high demand in the cryptocurrency space, we have seen Monero, Zcash and even Verge rally in volume and price as privacy-focused cryptocurrencies meet the growing needs of the markets.
In the privacy niche there can be more than one winner, utilizing the effective zk-SNARK protocol is a step in the right direction, while Bitcoin transactions do not show user’s personal names or addresses, wallet addresses can be viewed on the Blockchain publicly and transactions can be traced easily.
Over time the Zcoin price has gained momentum, it has performed well against both fiat and bitcoin with many cryptocurrencies only performing well against fiat.
With governments issuing tough laws to tackle money laundering and tax evasion, we could see an explosion in volume and price for privacy-based cryptocurrencies, the fear of regulations could be used to an advantage.
Where To Buy
Where To Store It
Please remember to invest what you can afford to lose, conduct sound research in all assets before investing.