Zclassic cryptocurrency: online course and forecast, mining and pools

Andrey Primula 10/01/2018

Zclassic (ZCL) appeared at the end of 2016 and is a fork of the Zcash coin.

The key reason for the division of the Zcash network was the opinion of a significant part of the users of this cryptocurrency that its anonymity should become complete, and not partial, like Zcash.

Zclassic has several differences from the main coin:

• There is no commission for creating new blocks. In the old format it was 20%;
• There is no system slowdown at the start of work. In Zcash, mining the first 20,000 blocks was artificially complicated to give more miners the opportunity to earn money;
• Absolute anonymity of transactions, ensured by a completely new algorithm called “Proof Knowledge algorithm”.

Blockchain Specifications

ZCL was formed on November 5, 2016 as a result of the split of the main network into 2 chains, one of which was Zclassic. At its core, the Zcash classic blockchain is technically not much different from its parent, ZCash, with the exception of some features that will be discussed below.

The same protection method is used - Proof of Work using the Equilash .

The total emission is limited to 21 million tokens , of which 3.7 million have already been issued.

Zclassic price movements

At the very beginning, there was no particular interest in the coin; for more than a year the price remained within $2 with small breakthroughs to the area of ​​$5, and later $10.

At the end of December 2022, there was explosive growth, the peak of which formed on 01/07/18 at around $235.

The reason was the release of another Bitcoin Private fork, which was credited to all ZCL holders.

Many miners have transferred their capacity to its production due to the high market value. After the BTCP accrual, there was a drop in interest in the Zcash fork. Consequently, a significant part of the mining capacity switched to more profitable coins. But there are also those who take advantage of the opportunity to purchase or mine a coin at a time when interest in it among the bulk of competitors has faded.

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Features of the ZClassic cryptocurrency

A key feature of the project is increased anonymity when using the blockchain network. The use of cryptographic methods actually turns the network into a secure communication channel with zero knowledge.

The use of Inter-Planetary File System technology allows you to transfer various documents directly on the blockchain. Also a pleasant nuance is the absence of commissions to the creators of the project. Thus, all rewards for the block mined during mining are received by users. In addition to all this, the developers have removed the artificially set limit on the speed of block mining, which increases the difficulty of mining.

We can say that ZCL carries all the advantages of Zсash, but at the same time is devoid of its main disadvantages.

What is Zclassic?

The Zclassic cryptocurrency is a hard fork of Zcash (ZEC). The parent chain of the blockchain had some drawbacks, in particular, not all community members were happy with the fact that Zcash developers charge 20% of the miners' fee for processing payments. To fix these problems, a hard fork was made, and ZenCash (ZEN) and Zclassic emerged.

Official website Zclassic.org.

Key characteristics of Zclassic are shown in the table.

The official website Zclassic.org has an interface only in English.

Differences between Zclassic and Zcash, technology

Both cryptocurrencies Zclassic and Zcash have the following technology features:

1. Cryptographic algorithm – Equihash. ASICs for it have not yet been created, you can mine on a CPU or GPU, the second option is more profitable in terms of money.
2. Consensus is implemented through Proof of Work.
3. Block generation time is 2.5 minutes.
4. Issue of 21 million coins.
5. The blockchain uses zero-knowledge proof and is a reliable system for protecting data confidentiality.

The differences are as follows.

Zclassic does not offer any of its own fundamental innovations. The Zclassic development team performed another hard fork of the chain in January 2022, resulting in the creation of Bitcoin Private (BTCP).

Zclassic roadmap

The roadmap was not published on the official website, but it was found on the developers’ Twitter account dedicated to promoting BTCP.

There are no better quality pictures. According to this roadmap, alpha and beta testing of the Zclassic Electrum wallet will take place in January 2022. Nothing more is known about plans for the Zclassic project; it seems that the team is focused on promoting Bitcoin Private.

Hardfork ZCL and Bitcoin Private

On February 28, 2022, at 17:00 UTC, a planned hard fork took place in the Bitcoin and zclassic networks, called Bitcoin Private, supporting the zk-SNARK zero-knowledge proof protocol. To the surprise of many users, at this moment the ZCL rate dropped by 60% . At the same time, Zclassic holders who stored their tokens in their wallet were awarded new tokens at a rate of 1 to 1. And the total volume of emission of the new cryptocurrency amounted to the total volume of BTC+ZCL emissions.

At the same time, the Bittrex exchange announced a couple of days later that it does not plan to list a new cryptocurrency.

ZClassic ZCL registration on the Cryptopia exchange

At the moment, you can create a wallet for Zclassic (ZCL) only on a couple of exchanges. We will use the Cryptopia .

Follow this link cryptopia.co.nz/Register to register. Be careful to only use this link. From now on, only visit this address.

Indicate your login, your email, password in two places, PIN code (from 4 to 8 digits). Each time you log in, you will enter your email and password, and then this PIN code, you need to write it down too.

After this, you will receive a letter from the exchange by email; to confirm your registration, follow the link in the letter.

After that, click “ Login ” in the upper right corner to enter the exchange. Enter your email, password, check the box that you are not a robot and click “ Log in ”, then enter your PIN that you specified during registration.

Where to buy ZCL

Today, Zclassic can be bought, sold and withdrawn on five cryptocurrency exchanges.

1. Bittrex. The largest trading volume for the cryptocurrency of the zcl project, which reaches 750 thousand dollars per day, falls on this exchange. Buying and selling ZCL is carried out using BTC.
2. Cryptopia. Cryptopia is the second most popular exchange with a trading volume of 50 thousand USD. Bidding is for Bitcoin and Litecoin.
3. Vebitcoin. The only exchange that trades classics for fiat money is the Turkish lira. At the same time, there is a significant trading volume of about $40 thousand per day.
4. CoinExchange. It has the lowest price for a coin - $5.53 per piece.
5. Trade Satoshi. Here, in addition to Bitcoin and Litecoin, the coin is also traded for the digital dollar and Doge.

Creating a ZClassic ZCL wallet

After authorization on the exchange, go to the “ Balances ” section.

In the search bar in the upper right corner, enter ZCL or (ZClassic ZCL) . Below in the search results you will find this cryptocurrency “ZClassic ZCL”. Click on the green arrow to create a ZCL .

Here we have created a ZCL wallet for mining Zclassic (ZCL) .

We don’t close this tab, so soon we will copy this address and paste it into the body file.

Mining ZCL

Mining of the ZCL cryptocurrency can be done both using a processor and on video cards. One of the best is the CUDA EquiHash miner, which works with Nvidia and is supported by Windows and Linux operating systems. But you can use any other miner that supports Zcash mining. For video cards from the AMD manufacturer, you can use Claymore's ZCash AMD GPU Miner. But keep in mind that this software is paid with a 2.5% commission to its developers.

In order to mine on a processor, we can recommend using Nicehash.

To start mining you need to follow these steps:

1. Register on a cryptocurrency exchange
2. Get a wallet
3. Select the appropriate pool for mining.
4. Download miner.
5. Configure the program for the selected pool.

The choice of miner for ZCL is quite wide, again due to its relationship with Zcash, so everyone can make a choice to their taste and based on their specific mining needs. Within the scope of our article, we will not describe the setup of each specific miner. If necessary, finding instructions for such setup on the Internet is not difficult.

It should also be noted that due to the specificity of the coin and low profitability, ZCL mining is not very popular, giving preference to other currencies.

Where can I store Zclassic?

The coin has four recommended storages:

• Zclassic-full-node-wallet (desktop wallet for Windows, Linux and Mac OS)
• ZCL Electrum (light wallet for Windows, Linux and Mac OS);
• paper storage option – ZclassicPaperWallet;
• mobile version of storage from COINOMI (for Android and iOS OS).

You can choose any type of wallet and install it by visiting the official cryptocurrency page.

The safest storage method is a paper certificate. It is preferable to store significant amounts on it. Desktop wallets also have a high level of security, since all private keys are stored remotely from the network. If you use the wallet often, then it will be most convenient to install the mobile version of the storage.

Mining pools ZClassic

Since Zclassic uses the same mining algorithm as its older brother Equihash, you can use the same pools as when mining Zcash. The project website https://zclassic.org/ contains data about 8 officially supported pools. These include:

1. https://zcl.suprnova.cc/ is the most common pool for zcl, where more than 13.5 thousand users mine.
2. https://www2.coinmine.pl/zcl/ - Canadian pool for zclassic with the number of clients about 2 thousand people.
3. https://pool.mn/zclassic/ - a pool located in Germany.
4. https://pool.cryptobroker.io/
5. https://zclassic.miningspeed.com/
6. https://zclmine.pro/
7. https://minez.zone/
8. https://pool.cryptobroker.io/

The project team

There is no separate page on the site representing the team. But in an interview, Zclassic representatives emphasize that the project is open source, in which everyone can take part. The community already has 5,700+ users, several dozen of them are actively working on the project in various collaborative opportunities, and 7 active members are working on the code base.

You can join the developer community directly on the website:

Forecast for 2022 and 2022

Many of those who did not sell their ZClassic on time are interested in the forecast for 2022 and 2022. There are two options here.

1. Since the coin has real value in the form of anonymity and retains the best features of ZCash, in the future the price of ZCL will slowly but recover.
2. The second forecast is pessimistic, but more realistic. The coin will join the ranks of unclaimed cryptocurrencies that have no prospects for practical use.

The latest forecast is supported not only by the low price, but also by the capitalization of 50 million USD. That is, obviously, the “smart money” or “whales” have left the market and are not interested in this coin. In addition, the development team is openly inactive and does not provide any valuable comments.

The only fact that inspires faith that everything will change for the better is that few coins have been mined on the ZClassic network (less than 4 million). Therefore, having found the bottom, the cryptocurrency is theoretically capable of gaining popularity, playing the role of a safe haven asset. Of course, the probability of such a forecast being fulfilled is small, but it exists, and such a scenario should not be discounted, because in April-May the price jumped from 4 USD to 34 USD.

Reasons for ZCash fork

The ZCash blockchain, along with Monero, offered a level of transaction anonymity that Bitcoin and other cryptocurrencies are far from achieving. This has provoked an increase in the popularity of tokens, especially on the darknet, where anonymity is paramount.

But the ZCash community is faced with two problems that need to be addressed. It was impossible to eliminate them within the ZEC network. Therefore, the idea of ​​a fork matured, the main task of which was to create a new cryptocurrency that could absorb the best features of the previous one. So at the end of 2022, ZClassic appeared, which did not have such disadvantages in comparison with ZCash.

Characteristic features of ZCL in comparison with ZEC:

• the 20 percent commission when creating new blocks, which was kept by the creators of ZCash, disappeared;
• eliminated a system slowdown that artificially slowed down the emergence of new blocks, which provoked an increase in prices for ZEC, and also increased the chances of earning money for more miners;
• transactions within the new network occur with a guarantee of complete anonymity, for which the Proof Knowledge algorithm is responsible.

Since the new coin eliminated the problems of ZCash, its prospects were assessed higher. It is not surprising that the price from the initial 5.5 USD, with which the coin entered the exchange, soared to 260 USD, recorded at its peak on January 7, 2022.

But since everything was so rosy, why did the value of the cryptocurrency fall? To answer this question, let’s take a look at the ideas that the project team wanted to bring to life.