Question 1

What's Zclassic (ZCL) Price Today?

Accepted Answer

As of now, the current price of Zclassic (ZCL) is XRP 0.20429783, with a 24 hour trading volume of 1.7K. In the last 24 hours, Zclassic's value has increased, and its market cap stands at XRP 2.1M, securing a #2202 spot in all cryptocurrencies by market capitalization.

Question 2

What Is Zclassic (ZCL)?

Accepted Answer

Zclassic is a fork of Zcash that differs fundamentally by eliminating the 20% founders' reward and slow start stipulation. Zclassic was founded by Rhett Creighton with the aim of ensuring that miners earn their deserved reward and that the coin's development is supported by the community. Zclassic leverages the same advanced cryptographic techniques as Zcash, notably zk-SNARKs, for ensuring network privacy. However, it does so without mandating a mining “Founder’s Reward”, which is the case with Zcash.

Question 3

Who Created Zclassic?

Accepted Answer

Zclassic was founded by Rhett Creighton, a blockchain developer and enthusiast. He created ZClassic with the mission of staying as technologically close to Zcash as possible, but removing any kind of pre-mine, founder's reward, or any other types of fees that end up in a select group of individuals' pockets.

Question 4

How Does Zclassic Work?

Accepted Answer

Zclassic works in much the same way as Zcash, offering strong privacy features to its users. It leverages zero-knowledge proofs (zk-SNARKs) allowing the network to maintain a secure ledger of balances without disclosing the parties or amounts involved in transactions. Miners in the ZClassic network earn their rewards through the process of mining, in which they lend their computational power to solve complex mathematical problems to add transactions to the blockchain. Unlike ZCash, however, they do not need to contribute a portion of their mining reward to the founders. This means that miners are simply earning their fair reward.

Question 5

What Makes Zclassic Unique?

Accepted Answer

Zclassic is unique mainly due to its decision to remove the 20% Founders Reward that Zcash incorporates. It maintains all of the technological aspects of Zcash, such as privacy and fungibility, without this feature. Its uniqueness also lies in its commitment to a completely fair reward system for miners and a development process funded by the community, rather than a small set of founders.

Question 6

What Is the Technology Behind Zclassic?

Accepted Answer

Zclassic employs the same privacy-oriented technology - zk-SNARKs, or Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge - as used by Zcash. This technology enables the validation of transactions without revealing any information about the amount and parties involved. The security and privacy features afforded by zk-SNARKs technology make Zclassic one of the premier privacy coins in the market. Furthermore, Zclassic includes no selective functionality that benefits any particular group over the community as a whole.

Question 7

How Much Zclassic Is in Circulation?

Accepted Answer

As of the moment, there are 10.3M ZCL coins in circulation. It's important to note that the total supply of Zclassic is 10.4M coins.

Question 8

Where Can I Buy Zclassic (ZCL)?

Accepted Answer

Zclassic (ZCL) can be purchased on several cryptocurrency exchanges, but make sure to do your own research and find an exchange that fits best with your expectations and provides the level of security you need. You can find Zclassic listed for trading on TradeOgre, Dove Wallet.

Convert ZCL to XRP

Try our Crypto Pro app