The ZClassic blockchain, a cryptocurrency that is itself a fork of ZCash, will soon split into two separate blockchains - ZClassic and ZenCash.
Two fundamental differences between ZClassic:
- no commission for developers (devfee)
- there is no slow start, because from the very first block, the reward for each block is 12.5 ZCL.
In all other respects, the alternative is completely identical to Zcash and may be of primary interest to miners, because For mining, the same miner programs are used as for the original Zcash using the Equihash algorithm.
Description
Zclassic is an open-source, decentralized cryptocurrency designed to provide optimal privacy and selective transparency for the user experience.
On their website, the Zclassic development team positions the coin as a fair and impartial coin that provides users with optimal value and privacy.
Zclassic is a fork of Zcash created in 2016 by Rhett Creighton. Creighton was concerned that the 20% of Zcash (ZEC) coins that the founders retained jeopardized the very idea of decentralization.
He removed 20% of the developer fee to create a new coin called Zclassic (ZCL). Thus, Zclassic is an exact copy of Zcash, with one caveat - the coin does not use a reward for the developer.
Like Bitcoin, Zclassic has a total of 21 million coins that will only exist on this network. In addition, the coin uses the proof of work protocol and the reliable Equihash algorithm.
In the white paper, Creighton stated that the main goal of Zclassic remains as similar as possible to Zcash and ensures that all mining rewards go to the miners.
While this may seem like a great idea, it also has a downside as the project has limited funds to support development. This can lead to a very bad experience.
The emergence of Bitcoin Private
The split in the ZClassic cryptocurrency network occurred due to disagreements between Rhett Craigon, who calls himself the founder of ZCL, Bitcoin Private and WhaleCoin, and Zuko Wilkos, who developed the ZCash platform. As soon as the fork took place, and Craigon received the reins of sole control of the ZCL branch, he began to prepare a new division of the network, which produced the Bitcoin Private (BTCP) cryptocurrency.
That is, it is fair to say that Craigon was not interested in developing the ZClassic project, but hoped to create a new generation Bitcoin that would embody the best features of ZCL, but in combination with the distinctive functions of BTC. At the same time, it was promised that new Bitcoin Private coins will be received in a 1:1 ratio by everyone who has ZClassic or BTC on their balance.
It turns out that since its inception, the ZCL cryptocurrency has been growing, as it was expected to replace ZCash. Well, since ZEC at its peak costs about $500, the target line was clear to investors. Then the public found out that each ZCL owner would also be given BTCP coins, and this added fuel to the fire, increasing demand and, accordingly, the price. Here a question arose that haunted smart investors, but for some reason was completely ignored by a huge army of crypto hamsters.
The fact is that there was no road map on the website of the new ZClassic project. Surprisingly, this bothered few people, although its absence speaks louder than any words - the project is not going to be developed.
In addition, the developers openly announced the fork and launch of Bitcoin Private, created according to the ZCL principle, but improved with Bitcoin functions. Therefore, if Bitcoin Private is successfully implemented, the ZClassic network and the cryptocurrency itself will cease to be needed and will depreciate, which is what happened.
Of course, the fall scenario was not obvious, but still the probability of its implementation was almost 70%. At that moment, there were only three development scenarios, but many still did not believe that the coin that embodied the idea of ZCash would lose so much in value.
The table below shows the prospects for ZClassic and Private Bitcoin, voiced by experts before the advent of BTCP.
The Private Bitcoin fork occurred, according to the developers’ plan, on February 28, 2022. The very next day, ZCL made one last attempt to grow and collapsed. Now it has become obvious to everyone that the coin’s growth was due to pumpers and those who wanted to get their hands on Bitcoin Private.
What problem does Zclassic solve?
To solve all the problems raised, the founder of Zclassic and the entire development team took a number of measures, which were also aimed at strategically positioning the coin in an increasingly competitive environment. The team was especially focused on presenting itself as a better option than direct competitor Zcash.
Zclassic refused 20% of the developer reward
Rhett Creighton forked the Zcash code, removing the lines that were responsible for the 20% developer reward. This means that miners working on the Zclassic system receive all the rewards for mining new blocks. In the first four years, the miners' reward is 12.5 ZLC. This award will decrease every four years.
Improved miner rewards mean there will be more nodes supporting and protecting the Zclassic system.
Zero knowledge proof technology
Like Zcash, Zclassic uses an encryption technology called zero-knowledge proof to guarantee users optimal anonymity. This technology is a method of authenticating transactions without exchanging passwords. Therefore, an attacker cannot simply hack into your system to obtain your password and steal personal data.
Complete decentralization
The problem of centralization in the financial system has cryptographic experts looking for alternatives that can help reduce transaction costs. Zclassic is a completely decentralized network. This means that it uses distributed nodes in its system to store data, confirm transactions and secure them.
Cryptocurrency mining
The mining process for ZClassic is no different from the ZCash cryptocurrency. To successfully mine coins, you need to consider two main components:
Miners
There have been more and more high-quality miners lately, but the following five can be especially highlighted:
- Claymore's Dual Miner
. One of the best programs in its category. It has absolutely no competitors among miners in terms of performance. Claymore uses a special Equihash algorithm to mine ZClassic, which is strikingly different from others. Thanks to this, mining can be carried out on a fairly simple computer. The main condition is the presence of a large amount of RAM. The miner only works on Windows. Another plus is constant updates; the developers emphasize that they want to create a product with maximum performance. The only negative aspect that can be noted is the creators’ commission in the amount of 2.5 percent of the mined coins. - Nicehash EQM miner
. An extremely fast miner that only works on NVidia video cards. It has many advantages, for example, developers do not charge a commission from users. The miner only works on Windows. The main negative point associated with it is that it is too tied to the Nicehash pool, and all mining goes through other users. - CUDA EquiHash miner
. The speed of this miner is the highest for NVidia video cards. Main advantage: support on two major operating systems: Windows and Linux. Just like Claymore, the developers take a commission of 2.5 percent. - Silent Army
. According to experts, it is a universal miner that combines many advantages. For example, no commission, support for Windows and Linux, open source written in Python. Some of the ideas from the creators of Silent Army were also used by Claymore developers in their work. - Optiminer ZCash miner
. The main competitor of Claymore, if you take into account AMD video cards. The miner's commission system is interesting. It doesn’t just take a percentage of the amount earned, but also mines cryptocurrency in parallel, using the user’s power.
Pools
Currently, it is not profitable to mine cryptocurrency alone, since the costs of servicing the large capacities required to mine blocks are unlikely to recoup the income. In this case, pools come to the aid of users - special servers that connect users and allow them to unite to receive cryptocurrency. Popular pools that deal with ZClassic are:
- CoinMine
. The service supports 15 cryptocurrencies for mining, including ZClassic. The number of miners exceeds thousands, which makes the turnover of funds large, so the pool is beneficial for users. - suprnova
. The service was launched in 2015 and during this time it has become popular among miners, primarily due to its simplicity and the division of servers by continent, which makes work easier. The fee for using the pool is 1 percent.
Where to store?
You can store ZCL coins on an official cold wallet, for such operating systems as:
- Windows
- Linux
- Mac
You can get these wallets from Github.
The installation and configuration of the wallet is the same for QT wallets, so you can use our instructions for QT wallets: Core QT wallet: installation, configuration, backup and private keys
You can also store coins on an Electrum wallet, for such operating systems as:
- Windows
- Linux
- Mac
You can also store coins on the Coinomi multi-currency wallet.
You can also store coins directly on the exchange where they are traded.
Let's start work
When all the preliminary settings are completed, the data has been entered and the equipment is ready, we launch bat. Miner file and wait for initialization.
If everything is done correctly, after a few minutes the mining process will begin to be displayed in the pool, indicating the hashrate taken into account.
go
How to mine?
The ZCL coin works on the Equihash algorithm, which means it is mined on ASICs.
Pools:
https://zclassic.miningpoolhub.com/
https://zergpool.com/
https://www.f2pool.com/
https://luckpool.net/zclassic/
How to mine on video cards (GPU)?
If you have 1 video card suitable for mining, or a whole mining farm, then you can resort to the “pseudo mining” technique.
In this case, you must start mining any of the most profitable coins on your video card and sell it on the exchange in exchange for ZCL.
Conclusion
Is ZClassic a coin with potential?
Definitely.
With so many different cryptocurrencies and tokens that focus on privacy and anonymity, it is now becoming increasingly difficult to stand out. ZClassic is a currency that eliminates unfair mining reward cuts and does not intend to create artificial scarcity as is practiced by Zcash.
There will be 21 million ZCL in circulation over the next few years, and the altcoin appears to be following the same issuance model as Bitcoin.
So far, just over 4 million coins have been mined, which means there is still a lot of work ahead for both miners and the entire ZClassic crypto community.
It will be quite interesting to see how this situation changes over time.
Sources:
https://cryptopotato.com/
https://cryptostec.com/
https://zclassic.org/
https://coinmarketcap.com/
Where can I buy?
The coin is traded on the following exchanges:
| # | Exchange | Pair |
| 1 | Bittrex | ZCL/BTC |
| 2 | CoinExchange | ZCL/BTC |
| 3 | Trade Satoshi | ZCL/USDT |
| 4 | Trade Satoshi | ZCL/BTC |
| 5 | Trade Satoshi | ZCL/LTC |
| 6 | Trade Satoshi | ZCL/DOGE |
| 7 | Trade Satoshi | ZCL/ETH |
ZCL rate:
| 1 ZCL = | 0.49360000 AED |
| 1 ZCL = | 0.00000000 AFN |
| 1 ZCL = | 13.1700000 ALL |
| 1 ZCL = | 60.2100000 AMD |
| 1 ZCL = | 32.4700000 AOA |
| 1 ZCL = | 0.17390000 AUD |
| 1 ZCL = | 0.00000000 AZN |
| 1 ZCL = | 0.19500000 BAM |
| 1 ZCL = | 0.00000000 BBD |
| 1 ZCL = | 13.0300000 BDT |
| 1 ZCL = | 0.26220000 BGN |
| 1 ZCL = | 0.46540000 BHD |
| 1 ZCL = | 0.84800000 BOB |
| 1 ZCL = | 0.70650000 BRL |
| 1 ZCL = | 5.16100000 BSD |
| 1 ZCL = | 0.00000289 BTC |
| 1 ZCL = | 24.9700000 BTN |
| 1 ZCL = | 3.95900000 BTS |
| 1 ZCL = | 0.33790000 BYN |
| 1 ZCL = | 0.15820000 CAD |
| 1 ZCL = | 0.11600000 CHF |
| 1 ZCL = | 0.80540000 CNY |
| 1 ZCL = | 494.680000 COP |
| 1 ZCL = | 80.4800000 CRC |
| 1 ZCL = | 2.70400000 CZK |
| 1 ZCL = | 0.00088220 DASH |
| 1 ZCL = | 0.66240000 DKK |
| 1 ZCL = | 0.72800000 DOGE |
| 1 ZCL = | 7.70000000 DOP |
| 1 ZCL = | 9.15000000 DZD |
| 1 ZCL = | 144.500000 EAC |
| 1 ZCL = | 2.03200000 EGP |
| 1 ZCL = | 2.51300000 EMC |
| 1 ZCL = | 10.2900000 ETB |
| 1 ZCL = | 0.00003777 ETH |
| 1 ZCL = | 0.11060000 EUR |
| 1 ZCL = | 0.08945000 FCT |
| 1 ZCL = | 10.7000000 FTC |
| 1 ZCL = | 0.09233000 GBP |
| 1 ZCL = | 0.40050000 GEL |
| 1 ZCL = | 0.00650800 GGP |
| 1 ZCL = | 0.00085100 GIP |
| 1 ZCL = | 1.11900000 GTQ |
| 1 ZCL = | 0.98920000 HKD |
| 1 ZCL = | 3.25700000 HNL |
| 1 ZCL = | 0.85780000 HRK |
| 1 ZCL = | 42.2000000 HUF |
| 1 ZCL = | 1815.75000 IDR |
| 1 ZCL = | 0.41930000 ILS |
| 1 ZCL = | 10.5100000 INR |
| 1 ZCL = | 35.2100000 IQD |
| 1 ZCL = | 38090.7000 IRR |
| 1 ZCL = | 29.9000000 ISK |
| 1 ZCL = | 25.2400000 JMD |
| 1 ZCL = | 0.12020000 JOD |
| 1 ZCL = | 14.5300000 JPY |
| 1 ZCL = | 15.3400000 KES |
| 1 ZCL = | 10.5900000 KGS |
| 1 ZCL = | 480.770000 KHR |
| 1 ZCL = | 154.330000 KRW |
| 1 ZCL = | 50.3800000 KZT |
| 1 ZCL = | 208.260000 LBP |
| 1 ZCL = | 35.4400000 LKR |
| 1 ZCL = | 0.00090170 LTC |
| 1 ZCL = | 1.27100000 MAD |
| 1 ZCL = | 2.94800000 MDL |
| 1 ZCL = | 0.00000000 MGA |
| 1 ZCL = | 38.7900000 MMK |
| 1 ZCL = | 3.62800000 MVR |
| 1 ZCL = | 220.660000 MWK |
| 1 ZCL = | 2.59500000 MXN |
| 1 ZCL = | 0.53390000 MYR |
| 1 ZCL = | 0.00000000 MZN |
| 1 ZCL = | 2.89000000 NAD |
| 1 ZCL = | 72.3000000 NGN |
| 1 ZCL = | 0.02050000 NMC |
| 1 ZCL = | 1.24500000 NOK |
| 1 ZCL = | 18.5100000 NPR |
| 1 ZCL = | 0.01011000 NVC |
| 1 ZCL = | 10.3200000 NXT |
| 1 ZCL = | 0.18620000 NZD |
| 1 ZCL = | 0.06376000 OMR |
| 1 ZCL = | 0.14120000 PAB |
| 1 ZCL = | 0.50450000 PEN |
| 1 ZCL = | 0.70380000 PGK |
| 1 ZCL = | 8.38400000 PHP |
| 1 ZCL = | 26.8100000 PKR |
| 1 ZCL = | 0.50510000 PLN |
| 1 ZCL = | 0.17970000 PPC |
| 1 ZCL = | 726.750000 PYG |
| 1 ZCL = | 0.54650000 QAR |
| 1 ZCL = | 0.48540000 RON |
| 1 ZCL = | 13.6900000 RSD |
| 1 ZCL = | 9.46700000 RUB |
| 1 ZCL = | 0.52160000 SAR |
| 1 ZCL = | 1.16100000 SEK |
| 1 ZCL = | 0.17100000 SGD |
| 1 ZCL = | 8.62000000 STR |
| 1 ZCL = | 0.00000000 SVC |
| 1 ZCL = | 2.27400000 SZL |
| 1 ZCL = | 4.29600000 THB |
| 1 ZCL = | 0.09467000 TND |
| 1 ZCL = | 19.1400000 TOP |
| 1 ZCL = | 1.71300000 TRY |
| 1 ZCL = | 1.17200000 TTD |
| 1 ZCL = | 4.11600000 TWD |
| 1 ZCL = | 282.690000 TZS |
| 1 ZCL = | 3.58400000 UAH |
| 1 ZCL = | 556.000000 UGX |
| 1 ZCL = | 0.12660000 USD |
| 1 ZCL = | 5.69400000 UYU |
| 1 ZCL = | 1762.48000 UZS |
| 1 ZCL = | 135541.0400 VEF |
| 1 ZCL = | 6561.30000 VND |
| 1 ZCL = | 0.29860000 VTC |
| 1 ZCL = | 11.0200000 VUV |
| 1 ZCL = | 0.00000000 WST |
| 1 ZCL = | 83.2200000 XAF |
| 1 ZCL = | 0.00058410 XMR |
| 1 ZCL = | 86.9300000 XOF |
| 1 ZCL = | 0.42310000 XPM |
| 1 ZCL = | 0.15840000 XRP |
| 1 ZCL = | 2.00000000 ZAR |
| 1 ZCL = | 2.54300000 ZMW |
