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ZClassic (ZCL): Hard Fork Merge with Bitcoin

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ZClassic

The last week was pretty ecstatic for ZClassic as this currency had a hard fork merging with the oldest cryptocurrency – Bitcoin. With combined forces of the two blockchain-based digital values, we now have a hard fork product called Bitcoin Private. Due to this massive change, ZClassic has gone through a pretty turbulent period, so let’s see how this coin did a couple of days before, during and after the hard fork merge with Bitcoin.

ZClassic: Why the Hard Fork?

Jacob Brutman, the leader of operations for Bitcoin Private stated that the reason for having ZClassic and Bitcoin merged together in a hard fork project called Bitcoin Private lies in the fact that these two cryptocurrencies combined together could bring more satisfactory services for all users and coin holders.

With Bitcoin Private, it is said that all transactions being processed through this decentralized ecosystem would be much easier to process with fast processing time, ridiculously low fees and complete privacy. This is very important for Bitcoin as well, as this coin, although the oldest on the market and launched as the first prototype of digital currency, wasn’t following up with the competition so its technological capabilities got stuck in the past without any further improvement.

Bitcoin had troubles with slow processing time, higher fees when compared to most other cryptocurrencies and also had some issues with privacy as it is a known fact for quite some time now that Bitcoin blockchain ecosystem keeps all your transaction info “onboard”, which means that your privacy is potentially jeopardized from exposure at all times.

The white paper of Bitcoin Private states that this project represents the true vision that Satoshi Nakamoto, an anonymous hacker that launched Bitcoin, had for Bitcoin back when it was first issued as an alternative payment mostly used within the dark web for the first couple of years.

So, the story about ZClassic getting a new hard fork with Bitcoin has going on for some time now, with the merging scheduled for the end of February of 2018 then being rescheduled for March 2nd, 2018. The hard fork happened on the rescheduled date as planned, but many people are still not sure what is going on, with the exception of ZCL and BTC coin holders.

What we are interested in finding out is why the hard fork and why this merging occurred in the first place

While we know that Bitcoin had some major issues with privacy, the time taken for processing transactions and steep fees, it seems that ZClassic also had some troubles that made Bitcoin Private a pretty tempting opportunity for this currency to jump up from the bottom of the top coins.

ZClassic is already a fork project derived from ZCash, but it seems that the things were not all sunshine for this currency as it is going through with another hard fork. The reason for having ZClassic joining Bitcoin Private project and getting another hard fork is, of course, related to issues with ZCL pricing.

In case you don’t remember, ZClassic was a hard fork result of ZCash motivated by the goal of removing founders’ tax. ZCash was one of the rare digital coins that actually had a founder’s tax. If you are not sure what a founder’s tax is, you will surely be disappointed to find out that this is actually a way for the founders to earn cash. That is everything but in the spirit of decentralization.

Nevertheless, starting from day one for Bitcoin Private, all BTC and ZCL holders got BTCP in exchange for their Bitcoin and ZClassic units. Within the new protocol, 1 BTC is worth 1 BTCP, while 1 ZCL also makes up for 1 BTCP.

Just as with every other hard fork taking place, both, BTC and ZCL holders can refuse to go under the changes the hard fork is offering so they can choose to keep their original ZCL and BTC units.

All users may at any time refuse to renew and update their system. These users would still be able to use BTC and ZCL within the networks they’ve been using these coins so far.

The reason why many coins are getting a hard fork in the case described above: whenever a coin goes through a hard fork-induced change, other users who are not interested in these changes can refuse to exchange their currency for a newly developed digital value. The refusal to go under the hard fork creates limited supplies of coins which then creates a fake market capitalization. Once ZClassic’s cap merges with Bitcoins cap, Bitcoin Private will get a market capitalization of both coins combined, that way creating a

This is how the price of a freshly hard forked coin can jump up high dizzily in no time. Besides from the newly established Bitcoin Private, BTCP, Bitcoin already has a colorful set of “derivates” in form of Bitcoin Gold and other BTC projects that can still be invested in as we speak.

To get the best out of the BTCP story, Bitcoin Private will have improved privacy thanks to the zk-SNARKS, which is a technology used in ZCash for providing completely backed up private and anonymous transactions within the decentralized network. Thanks to this technology, new BTCP users would be able to take advantage of private transactions with low fees, fast processing time and anonymity.

ZClassic and Bitcoin: Following up on Prices

ZCL had an immensely devastating drop 6 days ago on March 1st when this currency fell for over -79% against the dollar in a course of a single day. Over the last week, the total drop in ZCL’s price went down to -83.5% against the dollar, so at the time, ZClassic could be bought at a bit over 23$ per one unit. At the moment of writing, on March 11th, ZCL is worth 9.67$ per one coin after the latest negative change in price that resulted in a drop of -6.77% against the dollar.

Bitcoin is 8847.00$ per one unit, which is the most recent price marked after a drop of -1.21% against the dollar.

The price of Bitcoin Private (BTCP) is still not available on any of the exchanges as it is marked as “not trading”.

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

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.

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

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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 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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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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