ZClassic is a decentralized blockchain forked from Zcash that removes the 20% Founder’s Reward. More
| Fully Diluted Valuation | $66,404 |
|---|---|
| 24H Trading Volume | $2 |
| 24H Low / High | $0.01 / $ 0.01 |
| Circulating Supply | 9.29M |
| Total Supply | 11.46M |
| Max Supply | ∞ |
| Categories | Privacy 2 more |
|---|---|
| Founder | Rhett Creighton |
| Website | zclassic.org |
| Socials | 1 more |
| Explorer | Zelcore 1 more |
| Name | Pair | OG Score |
|---|
ZClassic is a decentralized blockchain that started as a branch off the Zcash platform. It aims to offer a more straightforward and cost-effective alternative by making significant changes to its financial structure.
The Origin of ZClassic
Founded by Rhett Creighton, ZClassic saw its genesis block mined on November 6, 2016. The platform released its official whitepaper on January 10, 2018. It utilizes the open-source code of Zcash but diverges in key economic aspects.
Zcash’s Financial Model
Zcash, developed by Zero Coin Inc., includes a Founder’s Reward system where 20% of newly mined coins go to support the platform’s operations. This setup is intended to fund ongoing development but imposes costs on miners.
ZClassic’s Approach
In contrast, ZClassic removes the 20% Founder’s Reward, allowing miners to keep all coins they mine. This change makes ZClassic attractive to users looking to avoid extra fees associated with supporting the platform.
Consensus Mechanism and Mining
Both ZClassic and Zcash rely on Proof of Work (PoW) for validating transactions and adding new blocks to the blockchain. This approach ensures the security and reliability of the network through computational puzzles miners must solve.
No ICO, Pre-mine, or Fees
ZClassic stands out for its fair launch approach. It did not conduct an Initial Coin Offering (ICO), pre-mine coins, or levy any additional charges on its users. This policy underscores ZClassic’s commitment to transparency and fairness.
Conclusion
ZClassic offers a user-friendly alternative to Zcash by eliminating the Founder’s Reward and avoiding upfront token sales or fees. Its adoption of Zcash’s robust technology ensures reliability while providing a more economically favorable environment for miners and users.
ZClassic distinguishes itself by forking from Zcash to eliminate the 20% Founder’s Reward, offering a decentralized blockchain without additional fees like pre-mining or ICOs.
ZClassic was founded by Rhett Creighton, with its genesis block mined on November 6, 2016, and its whitepaper released on January 10, 2018.
You can buy Zclassic (ZCL) on SafeTrade cryptocurrency exchanges.
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