What is ZClassic? ZClassic (ZCL) is a privacy-focused fork of ZCash released without pre-mining or founder share in the supply. cryptocoin.com In this article, we have answered the questions of investors such as what is ZClassic, what it offers, what is ZCL coin, what is it for, how to buy it. Now, let’s examine this cryptocurrency project that left ZCash with a hard fork.
What is ZClassic?
Led by Rhett Creighton, Zclassic launched as a fork of the ZCash network. Fork deleted ZCash’s 20% founder bounty and slow start feature. Creighton’s disagreement that led to a fork in the network was that he considered ZCash’s 20% founder fee quite unfair. This 20% reward would lead to whales controlling the token price. However, the slow start feature was also problematic for him. Creighton argued that this feature would cause extreme price hyperinflation.
ZClassic was launched in November 2016, just 4 days after the launch of Zcash. Creighton extracted 22 lines of code from Zcash and thus the fork took place. This Blockchain network basically kept many of the main features of ZCash. However, with its slow start feature, it did not include a number of unfair elements such as founder rewards. However, the cryptocurrency also serves as a privacy-focused altcoin, just like its predecessor ZCash. Users have the advantage of making transactions with this cryptocurrency completely anonymously.
What does ZClassic offer?
ZClassic claims to offer some of the best benefits to its users. The advantages that Blockchain offers to its users enable them to work better and more transparently. These advantages include:
- No founder share: All mining rewards on the network go directly to miners. But in ZCash, the founders get 20% of the rewards, giving 10% control over the entire money supply. The awards that go to the founders will continue for 1 year.
- No slow start:Blockchain does away with the slow start feature of the roughly 20,000 blocks that ZCash introduced.
- Reliable parameters: ZClassic uses the same security parameters that ZCash uses. Security parameters benefit users in several ways.
What is ZCL? What does it do?
ZClassic uses the ZCL token, which is different from the ZEC used by ZCash. ZCL altcoin solves slow start problem on Blockchain network. It also rewards Proof-of-Work miners on the network. The scarcity of ZCL coin is also not controlled by any particular group. Instead, the altcoin’s price varies depending on the network’s use case and the nature of the market.
What is ZClassic? How to take ZCL?
ZClassic is listed on Finexbox, SafeTrade and BTX Pro cryptocurrency exchanges. Interested investors need to access these exchanges and follow the buying steps to purchase ZCL.
