Introduction

Zcoin or Zero Coin is based on zero-knowledge proof and is a cryptographic extension to Bitcoin, which enables completely anonymous and private digital and forex transactions, unlike Bitcoin. Bitcoin offers a new type of financial freedom in form of digital currency but lags significantly in terms of privacy as all the transactions are recorded and are displayed in public ledger.

How ZCoin functions

Zcoin is based on Zero Coin protocol/ Zero-knowledge proof which is a way of proving that you possess some data without revealing the nature of data. Under this protocol, the transaction is not linked to the previous chain of the series, thus breaking the chain and removing the possibility of tracking transactions through blockchain analysis. Znodes play a vital role in running the network and anyone running a Znodes are incentivized to run a full copy and to process Zerocoin transactions. Those who are running Znodes are entitled to a share of 30 percent in newly minted coins (i.e 15 every block). Running Znodes also require staking 1,000 Zcoins.  Zcoin system is secured by miners and they are rewarded for every new block that is generated with 50 new Zcoins. Zcoin follows the same half-cycle as Bitcoin in which during the first four years, 40 coins will go to the miner and rest 10 coins will be credited to founders. After the fourth year, the entire reward will go to Zcoin miners. 

Key Features

Privacy is the main feature of the XZC coin through the Zero Knowledge Proof protocol which masks the transactions and makes it highly anonymous in the chain. The zero-knowledge protocol helps discourages tracking of transactions through the blockchain analysis. 

Founder & History

Poramin Insom is the founder and core developer of the Zcoin and has written a research paper on implementations of zero coin protocol in masters degree programme from Johns Hopkins University. Zcoin is launched on 28th September 2016 and has a total supply of 21 million coins with a block time of 10 minutes. Each block contains 50 coins

Exchange

• Bittrex
• Binance
• Bitcoin Indonesia (IDR pairing)
• Coin exchange
• Novaexchange
• Bx Thailand (THB pairing)
• Bitsquare
• Cryptopia
• LiteBit.eu
• UPBit.com
• AEX.com

Wallets Supported

• Zcoin official wallet

How to Buy Zcoin (XZC)

• At first, a user needs to setup Zcoin official Wallet available on its website in able to store purchase XZC coins.
• After successful setup of wallet, the user needs to open an account in the exchange-listed above. Purchase Ethereum(ETH) in able to convert it with XZC tokens. If you already own ETH tokens then send to your new wallet address use it to convert into to XZC tokens.
• Transfer all your XZC tokens to your Zcoin official wallet to store it securely.

Conclusion

Zcoin is based on zero-proof protocol and is a cryptographic extension to bitcoin. It helps in achieving secure and private transactions as it makes the transactions highly anonymous on the chain.

Key Links

Website: http://zcoin.ioTwitter: https://twitter.com/zcoinofficialReddit: https://www.reddit.com/r/zcoin/Whitepaper: https://zcoin.io/wp-content/uploads/2016/11/zerocoinwhitepaper.pdf