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Here’s Why ZClassic (ZCL) Is Running Right Now

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ZClassic (ZCL) is up more than 35% over the last twenty-four hours versus the USD and up more than 43% in relation to bitcoin. The coin is trading for a market capitalization of $63 million as of today (morning, US, December 28) and across the last twenty-four-hour period, against a backdrop of the just mentioned increase in price, more than $39 million worth of ZCL has changed hands over the various exchanges on which it’s traded.

ZCL Daily Chart

ZCL Daily Chart

In other words, something is getting markets excited about ZCL right now and it’s causing a wave of speculative volume to flow towards the coin.

What is getting markets excited and what does it mean? In other words, is it sustainable and can it support continued advance?

Let’s take a look.

This one is a privacy type coin that was set up on the back of a fork of the Zcash blockchain. Many reading will likely be already familiar with Zcash but, for anyone that isn’t, it’s defined as a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as bitcoin.

Basically (there’s no real need for us to go into the protocols that underpin this technology for the purposes of this discussion), Zcash uses a masking type technology that serves to hide certain details associated with a transaction while, at the same time, maintaining certain elements of the transparency that’s associated with bitcoin.

Specifically, everything is recorded on the blockchain and anyone using an explorer can see that a transaction took place but they can’t see who is on either side of the transaction (i.e. who sent the ZEC, in the case of a Zcash transaction and who received it) or how much was sent.

So why did ZClassic decide to fork the Zcash chain?

Because while Zcash was designed to fix some of the privacy issues associated with BTC, there were a number of undesirable elements built into its protocol.

One of these was that the founders of Zcash take 20% of the rewards (the rewards that, in bitcoin, are paid to miners) for the first 4 years subsequent to release, leading to 10% control of the entire monetary supply.

Another is that there is a slow start system built into Zcash, which would essentially make it very slow and difficult to mine the first 20,000 blocks, leading to a potentially artificially inflated market price.

ZClassic got rid of these features.

That’s a bit of background, what’s making the coin run now?

The team just announced that it’s forking again to create what’s going to be called Bitcoin Private. This is going to work (basically) in the same way that ZClassic works but will be rebranded as above.

What does this have to do with anyone buying ZCL?

Anyone that owns ZCL at the time of the fork will receive BCTP (which is the ticker being used to refer to the upcoming Bitcoin Private) on a ration of 1:1. Markets are assuming, therefore, that there’s going to be a dramatic increase in price on the BTCP as and when they hit exchanges and that, through ZCL, there’s an easy way to pick up plenty of BTCP incredibly cheap.

So is this a genuine opportunity?

Well, yes and no. If it plays out as described above, then yes. However, we don’t know when (or even if) the major exchanges are going to support this fork (i.e. whether they will issue BTCP to anyone holding BTC or ZCL at the projected ratio) and, as such, there’s a risk built into any position held in ZCL ahead of the fork.

With that said, it could be well worth a punt given the upside potential at current ZCL prices.

We will be updating our subscribers as soon as we know more. For the latest on XXXX, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of ZClassic

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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