Review on Zcoin by Toprak Dere
About Zcoin
When we talk about cryptocurrencies in general, there is something often described as a core feature: their ability to facilitate anonymous transactions. However, this is a misunderstanding because even cryptocurrencies such as Bitcoin and Ethereum cannot provide full anonymity of transactions.
Zcoin is a cryptocurrency that aims to add more anonymity and privacy to transactions while retaining all the other advantages of cryptocurrencies like Bitcoin.
As Zcoin is a Zerocoin based cryptocurrency, it provides zero knowledge proof; This means users can send and receive coins without revealing which specific coins belong to them. According to the Zerocoin protocol, every cryptocurrency goes through a burning and minting cycle. This cycle ensures that the coin history is deleted; Thus, it eliminates the chance to identify and link a crypto currency to previous transactions while spending cryptocurrencies.
Zcoin claims to be the first cryptocurrency to implement the Merkle Tree Proof (MTP) as a proof-of-work algorithm. In simple terms, MTP charges the same for a single calculation across all computing devices to eliminate inequality between ordinary users and attackers.
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Pros
- In a world of ever-increasing privacy concerns, Zcoin seems to be a viable solution for achieving privacy and anonymity in cryptocurrency transactions.
- A detailed look at the roadmap shows that many innovative and promising features will come in the future.
Cons
- the project should be developed and promoted more
