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ZClassic (ZCL): Peaks, Lows and Hard Fork

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The last couple of days were thrilling for ZClassic (ZCL) holders and investors, but not at all times positively exciting. ZCL often showed changes in the volume of selling as well as in the price, starting with changes from January 21st, 2018, still leaving everyone wondering what will happen next.

Trading at its all-time high just a couple of days ago, from that moment things got pretty turbulent for this cryptocurrency as it had its price going up and down day by day, keeping everyone expecting and even cautious. Another thing collecting the general interest of holders and investors is the case of Hard Fork. When will ZCL get its fork and will this currency come to a safe point with continuous increases in price?

What is ZCL?

When talking about ZClassic, the best currency to be compared to would surely be ZCash. In case you have heard of ZCash, you surely know that these two cryptocurrencies are closely related. So, to explain what ZClassic is, we first need to follow up with a couple of facts that describe ZCash.

ZCash is thought to be one of the most significant currencies on the market. It is even believed that this digital coin will also replace Bitcoin very soon. ZCash is created in a way that would make you think that its creators wanted to address everything that wasn’t quite right with the original cryptocurrency – Bitcoin.

So, unlike Bitcoin, ZCash is covering all issues regarding general privacy when it comes to tracking transactions. ZCash is programmed in a way to represent a decentralized community where fast and cheap transactions are enabled, but unlike with Bitcoin, the amount of each transaction, the recipient’s address and all information about the sender remain private and kept on its own blockchain. That way, ZCash managed to solve what they thought was the biggest issue regarding the privacy during and after the process of completing transactions by using blockchain.

ZCash thus managed to earn its place on the global coin ranking list, fair and square, also acquiring a stable pace of increases in price, which led this coin to a fabulous price of 472.58$ per one unit.

Now, you are probably wondering (in case you don’t already know), what ZCash has to do with ZClassic? Well, ZClassic is an implemented value existing simultaneously with ZCash on ZCash’s blockchain.

What is interesting about ZClassic is that from the moment of its launching, this coin didn’t have a “soft start” like other coins do – meaning that every coin when released and launched must go a long way until it gets the opportunity to hold any value. The market is always dictating that price.

So, the price of any coin per one unit would depend on its popularity and the number of holders and investors. Also, in case the coin is being massively sold at its lowest, this scenario would result in having the price decreased. The same goes for having the holders of a certain coin holding and using the coin for a long time – this scenario would result in having the price increased during the time the coin would be doing well.

But, with ZClassic, this just wasn’t the case at the beginning when this coin was first launched. So, instead of having ZClassic starting from a soft price, dealing anywhere from 0.000001 to 0.1$ which is the usual case, ZClassic started with an imaginary price that wasn’t even roughly determined. That way you had a chaos on the market where some people were buying 1 ZClassic at the price of 3000 BTC, which is a ridiculously high price for a new coin.

The only difference between a regular new coin and ZClassic was the fact that ZClassic had a history of being related to ZCash – a coin that was doing pretty well as at that time, just as it is doing great at the moment of this writing.

Although ZCASH and ZClassic story is a whole different story from the story about Ethereum and Ethereum classic, most people were still cautious, and some still are, when it comes to buying and investing in ZClassic.

ZClassic and ZCash are working together, simultaneously solving the problem of privacy during and after transactions and complementing one another. Developers even use ZClassic to improve ZCash, following up with bugs and potential issues and working on fixing everything. That way, a large community of people with the same goal is working together to create a decentralized ecosystem, ZClassic, that peacefully coexists with ZCash, somewhat its patron network and the original Z-coin.

But, what makes most holders make up their mind for ZCL over ZCash, especially miners, is the fact that ZClassic doesn’t take 20% from the miners. The miners involved in mining this currency, get all they can mine and keep their rewarding chains.

The Hard Fork

The case where ZCL came down from its all-time high of over 50% in only a matter of a week, might have something to do with the long-awaited hard fork. In case you are not familiar with this term, Hard Fork represents a complete renewal of the blockchain system and protocol that affects nodes into making transactions valid if previously invalid.

This occasion also goes vice versa. Hard Fork then represents a radical change within a protocol of blockchain technology where all users must upgrade to the latest software to be able to still participate in the blockchain ecosystem.

The announced hard fork was responsible for having ZClassic go from a bit over 10$ to over 200$ per one unit, as investors expected all new changes to be applied within the given deadline. When the announced changes weren’t applied, the price dropped as investors started to sell their ZCL, that way affecting the price to drop down to 50%. Now, ZCL is trading at 164$ per one unit after rising 11% in the last 24 hours.

The most recent change was probably the result of having developers confirming that the hard fork protocol is already prepared for implementation, but the announced date was moved four weeks after the original announcement.

In case the hard fork is implemented as announced, and all changes are put in practice, ZClassic will most certainly continue with increases, getting back to its all-time high and potentially going beyond that price within a short period. And, in case hard fork implementation fails, it is certain that this coin will suffer from many decreases.

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.

Image courtesy of coinmarketcap.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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. One of the ways to have a successful trading…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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