What is the Coin Algorithm for Zcash (What is the Coin ZICC)
What is the coin algorithm for Zcash? Zcash is a forked currency of Zcash, with
What is the coin algorithm for Zcash? Zcash is a forked currency of Zcash, with its consensus protocols being ZEC and ZRX, while the Bitcoin blockchain adopts the BFT mechanism.
In Zcash, there is a new code library called “Zcash” (formerly known as “Ethereum”). ZCash is a new form of encrypted asset, similar to Bitcoin, which means it has a special feature – decentralized transactions, provability, and support for other digital currencies. This new technology rewards the contributions of early participants through mining. (Note:
) So, what is “Zcash”? “Zcash” is a new type of blockchain based on algebra, developed by the Zcash Foundation. The network uses Zcoin as its initial source of funding. According to data from Coinmarketcap.com, there are currently over 600 million users who have purchased this hard currency. If calculated at the current price, it is equivalent to about 5 billion dollars.
Specifically, Zcash’s total market value has reached about 500 trillion dollars, with over 80% being issued by Zcash. However, due to the rise in Bitcoin prices, the value within the entire ecosystem has decreased significantly, so more attention needs to be paid to security. For example, many projects have chosen to use these tokens for investment purposes. In addition, some projects have expressed their desire to join this field, such as the launch of a product called the MimbleWimble protocol in March of this year. However, the MimbleWimble protocol does not support smart contracts because it is based on cryptographic principles rather than any concept in the Bitcoin whitepaper. What is the main feature of “Zcash”? According to official information disclosed by Zcash, Zcash has been approved by the US SEC and the UK FCA to register as a regulated exchange and custodian.
In addition, Zcash has introduced an improved version of the Zcash 2.0 software package – MezcalCore, aimed at making privacy protection easier to apply. Mizcall is a solution proposed by members of the Zcash team for the first time last year. MizCarl is the technical director of the Zcash Foundation, and the company was established to help solve security vulnerabilities. Zcash is an open-source platform that allows individuals and organizations to create their own wallets and products, enabling them to easily send and receive digital or fiat currencies. Zcash can be seen as a means of payment or an exchange medium. In addition to the above functions, it can also utilize zero-knowledge proofs (ZK-SNARKs), verifiable random functions (VRFs), and other distributed ledger technologies (DLTs).
What is the Coin ZICC
ZICC is a virtual machine blockchain based on Ethereum and designed by community members. The total supply of its token ZICC is 200 million, of which 80% will be distributed to active users and contributors through destruction. In addition, 50% will be used for mining incentive activities and application in the ecosystem construction.
It is reported that ZICC is the token (ZEC) of a subsidiary project of ZInc., aiming to use ZK-Rollup technology to scale and store blockchain data, thereby achieving faster and lower-cost transaction processing.
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