Zclassic
Zclassic Zclassic is a Zcash fork founded by Rhett Creighton, but it removed 20% founder’s reward and slow-start mechanism. We believe miners merely receive the fair compensation they deserve, and miners should indeed receive this compensation; token development can be supported by the community.ZCL also distinguishes itself from ZEC(source) by removing the slow-start mechanism; we are not attempting to deliberately create scarcity: the market will determine the price. We use the same parameters generated at the now-famous security “trusted setup ceremony” (source); Peter Todd participated in that ceremony and confirmed to us (source) that these parameters can be safely used. As long as participant keeps and destroys their key in secret, the entire system is secure. Zcash is a cryptocurrency operated by Zerocoin Electric Coin Company. To fund its operations, it includes a “founder’s reward” amounting to 20% of mining rewards. In every block, in order to maintain consensus, miners running the Zcash code send 20% of their newly mined reward to an address controlled by Zerocoin Electric Coin Company. Because the Zcash source code is open source,Zclassic simply removed the 20% “founder’s reward.” This gives people the option to mine a blockchain that uses the same technology as Zcash but does not require payment of the 20% “founder’s reward.”Zclassic Zclassic’s mission is to remain as technologically similar to Zcash as possible, while never charging any pre-mine, founder’s reward, or any other fee and paying those fees to a small group of individuals with special privileges, whether those privileges were obtained through election, appointment, or otherwise.
Overview
Zclassic Zclassic is a Zcash fork founded by Rhett Creighton, but it removed 20% founder’s reward and slow-start mechanism. We believe miners merely receive the fair compensation they deserve, and miners should indeed receive this compensation; token development can be supported by the community.ZCL also distinguishes itself from ZEC(source) by removing the slow-start mechanism; we are not attempting to deliberately create scarcity: the market will determine the price. We use the same parameters generated at the now-famous security “trusted setup ceremony” (source); Peter Todd participated in that ceremony and confirmed to us (source) that these parameters can be safely used. As long as participant keeps and destroys their key in secret, the entire system is secure. Zcash is a cryptocurrency operated by Zerocoin Electric Coin Company. To fund its operations, it includes a “founder’s reward” amounting to 20% of mining rewards. In every block, in order to maintain consensus, miners running the Zcash code send 20% of their newly mined reward to an address controlled by Zerocoin Electric Coin Company. Because the Zcash source code is open source,Zclassic simply removed the 20% “founder’s reward.” This gives people the option to mine a blockchain that uses the same technology as Zcash but does not require payment of the 20% “founder’s reward.”Zclassic Zclassic’s mission is to remain as technologically similar to Zcash as possible, while never charging any pre-mine, founder’s reward, or any other fee and paying those fees to a small group of individuals with special privileges, whether those privileges were obtained through election, appointment, or otherwise.