Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Zclassic, Zcash Fork No Premine, No 20% Founders Tax
by
SixFigures
on 27/05/2018, 01:32:14 UTC
NO, Zclassic was not a free coin / hardfork for Zcash users.. it was a code fork and a totally new coin that did NOT inherit ZEC transactions/UTXO

it only inherited the code MINUS the founders' tax, premine, slow start..


Hi, I've found this thread reading BlockchainForums, it's discussed there in relation to Zcash and Zencash https://blockchainforums.info/topic/388/zencash-vs-zcash-all-you-need-to-know/4

I was surprised by "20% Founders Reward is removed."
So really ZCash founders have 20% of ZCash (or had in the beginning)
For me that's a lot, especially considering the price of ZCash!
Definitely ZClassic has a room to grow!

iM sad but not surprised that the wikipedia article was removed, but there's a latest copy of it here, right before unfair DELETION: http://web.archive.org/web/20180322010119/https://en.wikipedia.org/wiki/Zclassic

Quote

Zclassic started as a fork of Zcash on November 5, 2016, eight days after Zcash's own release.

At launch, the only differences between them was that Zclassic waived the 20% miners fee for its founders, and supply was not artificially limited at its creation (i.e. no "slow start" for blocks). Zclassic kept the same defining parameters of Zcash, such as the use of the ASIC-resistant equihash timestamping scheme, and a total supply of 21 million units.


Great, thanks for additional info!
I didn't know that the difference was only 8 days. So probably Zcash owners do not have Zclassic amounts? (Like in Bitcoin Cash fork every Bitcoin holder receive same amount of Bitcoin Cash)..


"MINUS the founders' tax, premine, slow start" - you mean tax (or may be better to say royalty?) to founders of ZCash?
How long was premine and slow start?
It seems it's profitable for miners to join on slow start and mine a lot of coins...

I was just wondering whether this tax that goes towards the ZCASH guys will be coded into the protocol forever? Or will there be a last block with that tax?