Zcoin is an open source decentralized cryptocurrency platform that seeks to offer users an opportunity to carry out anonymous and private transactions that cannot be traced back to the sender nor the receiver. In order to ensure that transactions are private and cannot be traced, the platform makes use of the Zerocoin protocol which has been described as one of the leading cryptographic papers in the world at the moment. To explain better, when you carry out transactions using the Ethereum or Bitcoin network, the transaction history and detail is linked by default to the transaction which means that anyone can easily view the history and details. On the Zcoin network, when you carry out a transaction, the detail of the transaction will be linked to the coin to be transferred and only the receiver and sender will be able to see the history and transaction detail.
Image Source : https://zcoin.io/
Zcoin was developed on the Zerocoin protocol which ensures that zero proof or knowledge is enforced. This anonymous coin was developed in December 2016 and since then it has become one of the most secure anonymous coins in the world at the moment. The Zcoin is designed in such a way that only the receiver and sender know the exact amount of token that will be sent. Users will find it interesting to know that there is no wallet address that is linked to any coin that is sent, this makes it one of the most secure and anonymous driven crypto platforms.
Features Of the Zcoin Network
- Minting; on the Zcoin network, when you want to carry out anonymous transactions, you will have to select the number of tokens you have to mint. Once this is done, the balance of Zcoin tokens you have reduces automatically and you might be credited with the new coins.
- Two layers; this anonymous coin has two layers the base layer and the anonymized layer. The base layer functions like every other cryptocurrency, users will be able to carry out transactions that can be traced back to them. The anonymized layer, on the other hand, allows users to be able to carry out transactions that cannot be traced back to them.
- A total of 21 million Zcoin tokens will be supplied and over 10% of the total supply will be sent to the founders' fund. The reward would be given to early developers, investors, and the community of Zcoin members at large.
- The price for one Zcoin is fixed at $124,47
Also, this cryptocurrency has a wallet that can be used to store tokens. These wallets will ensure that when users carry out transactions, the wallet address will not be attached to it. Since its launch, over 10 exchanges have announced their support for the crypto.
Pros
- It is a secure network
- Ensures 100% anonymity
- Considerable coin supply
- Was developed by a team of innovative and purpose-driven developers
Cons - About 10% of the total tokens will be sent to the founders of the platform.