Greetings Midas and XZC Communities!
As you all are aware, Midas has adapted its Masternode Index (MNI) share into the brand new Masternode Yield Automated Portfolio (MN YAP). This transition has included the addition of three new Masternode coins into the portfolio: XZC, NRG, and ZEN. These three projects are some of the leading Masternode coins and have been around for years. In this series of articles, we are going to take a look at the projects included in the YAP and what makes them so special. Today we will be discussing XZC.
Introduction to XZC
Zcoin (XZC) is a decentralized cryptocurrency that focuses on private and anonymous transactions. It accomplishes this through the implementation of the zero-coin protocol, which uses zero-knowledge proofs to conduct anonymous transactions. While several coins have gone on to implement the zero-coin protocol, Zcoin was the first to do so,launching in September of 2016. Zero-knowledge proofs are a method by which two parties can prove that they know a value without revealing what that value is. Zcoin uses both Proof of Work and Proof of Stake mining algorithms and is ASIC-resistant.
Zcoin was created to solve the issues that a modern economy faces, namely surrounding privacy. As more and more transactions become digital, privacy and government control of funds was only increasing. Cryptocurrencies became a natural competitor to fiat money, and offered an opportunity to hedge against inflation. But Bitcoin is not completely anonymous, as transactions can be traced. Zcoin solved this issue, creating a mathematical barrier for transactions that only quantum computing can break. By guaranteeing financial privacy, Zcoin helps to ensure freedom of trade. Zcoin believes that people should be able to use their money however they see fit.
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Lelantus is Zcoin’s next-generation privacy protocol. It builds upon the original Sigma and adds some additional layers of security. This is on track to launch in late 2020 after thorough testing. This protocol will combine the best aspects of other protocols into one.
It’s key feature will be removing the increments that users would have to use to mint anonymous coins, giving users greater flexibility in transactions. It will also reduce proof sizes, allowing the blockchain to be usable at higher transaction volumes, speeding up the proof process nearly 10x.
Another goal of Zcoin is to create a completely decentralized crowd funding platform. This will be similar to other cryptocurrencies that feature these types of platforms, but with complete anonymity and security. All raised funds are held in the platform until certain tasks are met by the team, releasing funds as milestones are met.
In Zcoin’s long history (relatively speaking), the team has been reliable in meeting their goals. For 2020, plans remain to build a decentralized governance portal and developing quantum-resistant zero-knowledge proofs. As quantum computing becomes more relevant, quantum resistance for cryptocurrencies will grow more vital.
Total Supply: 21.4M (21,400,000) XZC
Rewards: 12.5 XZC per block (Post Sep 2020)
- Miners (50%)
- Znodes (34%)
- Development Fund (15%)
Mining Algorithm: Lyra2z
Masternode Collateral: 1000 XCZ
To learn more about ZCoin, please use the following links: