What is Zclassic?
Zclassic is a decentralized blockchain that operates as a fork of the Zcash platform, with the removal of the Founder's Reward fee of 20%. The Zcash platform, developed and run by Zero Coin Inc., utilizes 20% mining for the Founder's Reward to support their operations. Miners of the Zcash platform send 20% of freshly mined coins to a Zero Coin Inc. controlled address to keep the consensus mechanism on track.
Zclassic leverages the open-source Zcash source code to remove the 20% Founder's Reward feature. This enables Zclassic network users to develop a blockchain with the same Zcash technology without the 20% Founder's Reward fee. According to the Zclassic whitepaper, the platform aims to provide its users with the same Founder's Reward fee removal with Zcash technology, without pre-mine or any other fee.
The Zclassic platform utilizes proof of work (PoW) consensus, and all mined Zclassic coins have been generated using this method. The platform does not have any coin sale, Initial Coin Offering (ICO), pre-mine, or tax.
The Zcash platform's team consists of privacy-protecting science and engineering professionals, and they aim to protect the freedom of saving and spending of their users. Zcash also aims to be the first to deploy zk-SNARKS, which refers to zero-knowledge cryptography that introduces higher levels of cryptocurrency privacy. Zero-knowledge proofs allow one party to prove to another party that specific information is true without disclosing any more information than the information's validity.
Moreover, Zcash supports numerous emerging platforms on its platform, and the platform token is designed to be a fair-launch token. The reason behind Zclassic forking Zcash is these exciting key features of Zcash technology.
The founder of the Zclassic platform is Rhett Creighton, and the platform released its whitepaper on January 10, 2018. The Zclassic Genesis block was mined on November 06, 2016.
In conclusion, Zclassic is a decentralized blockchain that operates as a fork of the Zcash platform, providing users with the same technology without the Founder's Reward fee. With its focus on privacy and fair launch token, Zclassic offers an attractive option for those seeking to trade in a secure and transparent blockchain environment.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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