Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Zclassic, Zcash Fork No Premine, No 20% Founders Tax
by
Ekonom
on 07/02/2017, 14:55:19 UTC
ZCL is great, it's only problem is that it's flying under the radar...

I put up a list of why I think it will succeed:

- Anonymous transactions are needed by everyone and not only for people "who have something to hide" like Dark markets. Private transactions are a necessity in business. It's also the basis of fungibility. But at the moment, Bitcoin is not anonymous. We don't know when/if it will be upgraded with privacy features.
- There is only 2 serious technology offering anonymous transaction right now Monero and Zcash.
- Zcash technology is better than Monero:

  • Zcash is close to Bitcoin in design and therefore can benefit from the developpment network effect unlike Monero where everything needs to be developped from scratch for it. Zcash also has the exact same model of issuance as Bitcoin, 21m coins, same rate of mining.
  • Zcash has opt-in anonymous transactions where Monero is anonymous by default. This means that with Zcash you can either do transparent regular blockchain transactions or cloaked anonymous transactions. This offers 2 advantages, first transparent transactions are useful for different type of usecases. And second it doesn't raise as much redflags from governments while offering the same privacy.
  • On the technical side, Zcash transactions are considered theoretically more perfectly anonymous and Zcash has better scalability than Monero.

- But Zcash suffers from a fatal flaw, it's the product of a US corporation and they made the mind-boggling decision to add tax of 20% on every block mined (until half of the total coins are mined).

  • Corporate coins add general uncertainty such as centralisation pressure and legal targets.
  • The 20% tax is not acceptable and destroys the foundation of what is supposed to be a worlwide currency. This will put a ceiling on Zcash potential as money. Cryptocurrencies are meant to free people and enable worldwide unfettered commerce not bring us back to Middle Age seignorage !

=> Zclassic is a fork of Zcash that simply removed the mining tax, it was released just a few days after Zcash and is what Zcash should have been.