Bluebelt Boldly Announces the Listing of Its First Zero-Knowledge Proof Coin

2018/08/30

Do you think current popular coins and tokens are giving you the privacy, anonymity, and decentralization you need?

If not, you may want to explore something new, like this new coin we are listing.

We at Bluebelt are happy to list our first privacy coin, Zcoin!

Once intended to be Bitcoin’s extension, Zcoin utilizes the Zerocoin protocol to send coins with no transaction history, providing users real anonymity.

Zcoin was created due to the potential association of certain addresses to user identity within the Bitcoin network.

The Zerocoin Protocol destroys users’ Zcoins to mint Zerocoins (new coins with zero transaction history). Zerocoins are then spent, converting them back into Zcoins. The sheer amount of Zerocoins minted will shroud information on where they came from.

Zcoin is a cryptocurrency that utilizes zero-knowledge proof, a method of determining a party’s knowledge of access info by letting him do something that proves his knowledge without revealing the access info itself. It uses the Zerocoin technology to “mint” a coin found on a public ledger into a private coin. Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge that makes it safe to use for years to come.

To solve scalability problems and prevent centralization, Zcoin uses memory hard algorithms that prevent the development of ASICs for centralized mining farms as well as botnets. The aim is to keep mining feasible and equitable. Currently, Zcoin has a block time of 1o minutes and rewards of 50 coins per block. After releasing the block rewards, miners can collect fees from transactions.

You can deposit your Zcoin (XZC) into your Bluebelt General Account wallet and Exchange wallet, both of which use multisignature technology, for safekeeping.

You can also trade your Exchange wallet’s Zcoin (XZC) with Bitcoin (BTC) and Ether (ETH) on Bluebelt Exchange.