What is BitcoinZ? BitcoinZ is a privacy and decentralized blockchain project that was launched anonymously in 2017. cryptocoin.com In this article, we tried to answer the curious questions such as what is BitcoinZ, what it offers, what is BTCZ, what is it for, how to get it. Let’s examine this project, which includes the good sides of Bitcoin and ZCash, together.
What is BitcoinZ?
An anonymous developer launched the formation block of the BitcoinZ (BTCZ) network in September 2017. Meanwhile, he published a community-focused manifesto and adopted the motto “We trust in decentralization”. Currently, BitcoinZ is self-running with no company structure, CEO or ownership. The network is managed by volunteer development teams and a dedicated user community called “ArmyZ”. This project, which has some common features of ZCash and Bitcoin, offers services in the field of privacy and payment.
What does BitcoinZ offer?
BitcoinZ works with a Proof-of-Work (PoW) consensus mechanism similar to Bitcoin. However, BTCZ mining is leaving BTC using the ZHash algorithm. ZHash makes it possible for anyone with GPU processing power to mine through a mechanism called “ASIC resistance”. In this way, the network prevents mining from entering the management of central companies. In addition to the mining difference, BitcoinZ has a decentralized exchange (DEX).
BitcoinZ-DEX allows users to trade peer-to-peer (P2P) through their local wallet. This DEX does not require tokenization. So tokens can be exchanged directly. It also does not have fast swap transactions and no fees associated with centralized exchanges. However, users pay a buyer’s fee of 0.15% when they transact. Finally, BitcoinZ also allows for private and anonymous cryptocurrency transactions as it is built with the ZCash core code.
What is BTCZ? What does it do?
BTCZ coin is the native cryptocurrency of the BitcoinZ network. This cryptocurrency allows for confidential and anonymous transactions. Altcoin holders can trade cryptocurrencies by hiding their identities thanks to ZCash’s zkSnarks. They can also use BTCZ for digital payments, just like Bitcoin. Cryptocurrency offers extremely low transaction fees while also supporting E-commerce functionality. It also acts as the base currency for the DEX platform. The altcoin, which has a supply of 21 billion, can be obtained by mining PoW.
What is BitcoinZ? How to get BTCZ?
BitcoinZ is not currently traded on large cryptocurrency exchanges such as Binance. Investors looking to buy BTCZ need access to exchanges like WhiteBIT, STEX, TradeOgre, Crex24 and Graviex. After doing this, users can open an account and buy the altcoin by uploading an asset to this account according to BTCZ coin parities.
