Review on Zcoin by francis fernandez
ZCoin: the private cryptocurrency for your transactions and electoral processes!
ZCoin, also known as XZC, is a decentralized and open source digital currency; whose main feature is based on maintaining anonymity and privacy on the blockchain.
What is your privacy?
The ZCoin methodology gives users the possibility to destroy their cryptocurrencies and exchange them for new ones without leaving a trace of their operations. This makes your money untraceable, for complete privacy of your finances.
How is ZCoin privacy achieved?
ZCoin uses the Zerocoin protocol to carry out knowledge tests that guarantee the security and anonymity of the blockchain. The function of these Tests is to completely destroy the links between the business operations of the blockchain, without prejudice to the integrity of the ledger. This mechanism also involves the MPT algorithm, resistant to ASICs, which uses the Dandelion ++ routing protocol, which prevents the binding of Znodes transactions to the user's IP address.
How safe is the ZCoin platform?
ZCoin has a two-layer security system:
1-Work tests: Performed by mining teams located worldwide that execute strong computational tasks.
2-Znodes: ZCoin makes use of the master nodes distributed worldwide to also protect its blockchain. The Znodes act as a special node (computers) that get a portion of the reward from the ZCoin block for storing a reliable and robust node that helps support the ecosystem.
What additional benefits does the use of ZCoin offer?
* ZCoin can be used as a private digital currency.
* Unalterable ledger to provide the anonymity of voters in electoral processes.
* To conduct polls under anonymity.
* To create your crypto assets directly on the platform.
Pros
- This platform provides privacy in the operations of its users through the use of the Lelantus and Sigma protocol; that allow transactions without revealing the origin of the source.
- It is functional for the creation of digital assets directly by the user on the platform.
- It is one of the few that can be used in electoral processes to protect the anonymity of voters.
Cons
- It only recommends the use of some wallets.
