The last time there was a discussion about ZClassic, the subject started out with “Whatever happened to ZCL?” ZCL might well have been dead since there was no appropriate media coverage to pave the way for ZCL towards the next stage of its development that could potentially take place before the end of 2018. What is certain for now is that ZCL is anything but dead due to a team called the ZClassic Community Edition. A new proposal on the behalf of the ZClassic CE has been submitted to the team behind BTPC, so let’s see where the status of the proposal currently stands at.
ZClassic Community Edition team
In the lack of a dev team for the neglected ZClassic, a new ZCL team emerged due to the necessity of a new dev team. The new team behind this crypto is called the ZClassic Community Edition, which more or less depicts that the core team members of ZCL are actually end-users and developers that have been by the side of ZCL since the very beginning.
The team is said to have been working on improving the ZCL system alongside with filling the voids left by the previous dev team of ZClassic.
The team has also stated that they have been with ZCL since the very beginning while taking over the project until there is a new official team ready to take over ZClassic. In order to find the best team possible, the ZClassic Community Edition has submitted a proposal to the official team of Bitcoin Private.
This is probably the best case scenario when it comes to finding a dev team for ZCL, as BTCP team would be able to understand the needs of the new ZCL project named as ZclassicCE in the submitted proposal.
Is Bitcoin Private Going to Accept the Proposal?
In the proposal that was submitted to the official team of ZClassic Community Edition, the team addressed BTCP team, stating that they have been filling in the vacuum that the previous team of ZCL left behind.
So, the team has sent a proposal to the BTCP team, suggesting crucial changes that would make ZClassic and the new face of ZCL “robust” stating that this makes a must in their proposal.
Given the fact that Bitcoin Private understands the technology behind ZClassic, sharing the same protocol, zk-SNARKS, and the BTCP team would make a perfect match for the new dev team of ZClassic that should become ZclassicCE in accordance with the new proposal.
The proposal was officially submitted on June 1st, as stated by the core member of the ZClassic Community Edition team, that shared information with Global Coin Report that the Bitcoin private team provided a reply to their proposal stating that they will take time to consider the proposal while providing them with their final decision within a couple of months.
The core member of the team stated that the reply in form of a decision should come the latest by September 1st.
How will ZClassic (ZCL) to ZclassicCE (AZCL) Transformation occur?
The ZClassic Community Edition team described all the expected changes and improvements for the future of ZCL in their proposal, providing a deep insight of what ZCL should represent in the future, while stating that ZClassic is ready to adapt to the current trends in the blockchain universe, while having the readiness to embrace the future developments.
In their proposal they have stressed out the importance of ZCL as a project, stating that ZClassic has an immense potential in the world of blockchain due to its promptness, technology, transparency, and security.
In the spirit of making a valuable comparison, the team started their proposal with favoring zk-SNARKS, the technology they share with BTCP, as well as stressing out the fact that “Bitcoin is hard.”, that way addressing the fact that they are planning on surpassing all issues that are found in the first crypto ever to be launched.
Further, in their proposal, the team represents the new asset that would make a transformation of the originally known ZCL.
The new asset of ZclassicCE should be called AZCL while one AZCL should make an equivalent to one ZCL unit.
What the team wanted to make clear is that AZCL won’t represent a new fork as the team is not planning on forking ZCL, wanting it to stay as close to ZCash as possible. Instead, the team would have the ZCL currency wrapped that way making it into an ERC233 standard asset.
The team is looking to utilize Komodo Platform in order to apply the second layer to ZCL while collecting notary fees in order to warp ZCL. It is further explained that the wrap doesn’t represent an airdrop or a fork. Just as ZCL could be transformed into a minted AZCL, the process can go in reverse as well.
While ZCL will exist on a single layer, which is on ZClassic platform, AZCL will be added for extended decentralization, making the EVM smart contract operations possible.
ZClassic Full Node Release and the Plans for Development
Alongside with the changes abbreviation for ZClassic’s own digital currency, ZCL, the team has also represented the one-year plan they have prepared, but have underlined the fact that their proposal makes up for a rather descriptive than prescriptive plan.
That being said, the Community Edition team has gone on with describing the technical capabilities of ZCL while presenting its potential for any future endeavors that might take place in the following months, depending on what the BTCP team would reply.
In addition to presenting the importance of zk-SNARKS, the team has also presented their one year plan, stating that ZCL should have a rebase from ZCash, from which it was originally forked while developing a new wallet UI.
The team is also planning on releasing 1.1.1 test net for all enthusiasts, developers, and miners by early July, as stated in the proposal.
The team has also gone forward with releasing Zclassic Full Node Ref Client, version 1.0.14, which is already available for the public, alongside with having been experimenting on creating a new user-friendly wallet, which is based on Electron wrapper.
The team has also added in their proposal that they have been working on lowering chances of centralization within the ZClassic system, stating in their proposal that this should be one of the main objectives for the further development of ZCL, which could potentially become AZCL.
Alongside with lowering the chances for centralization of the system, the team is also planning to have ZclassicCE penetrating into centralized and decentralized exchanges in order to push ZCL into the market with possibly more aggressive presence in the cryptoverse.
Now being ranked as the 202nd currency on the global coin ranking list, ZCL has a proper base that would aid this currency in achieving its full potential.
The current team that took over ZCL in order to find an appropriate dev team that would take ZCL over from this point have been doing their best to get ZCL alive and live trading for now, but as stated by the core team member the ZClassic CE team is hoping that the Bitcoin private will accept their proposal.
The proposal is public for all crypto enthusiasts, as well as the Full Node version that you can check out as we are waiting to see whether the team behind BTCP will take over ZCL and make these promising plans come true.
While ZClassic is waiting for the reply to their proposal sent to the Bitcoin Private team, ZCL can be traded at the price of 10.15$ per one unit.
After the latest change in the market that came as a byproduct of a shaky market, we can see a great portion of coins and tokens dropping against the dollar, while, for now vulnerable, ZCL is dropping with no exception by -6.96% at the moment of this writing.
Potentially, by the 1st of September, ZClassic will get revamped and taken over by a BTCP team, which is what the ZClassic Community Edition Team is hoping for.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…