Privacy Coins are a hot topic right now. The biggest story is that the Zclassic team is sewing ZK-Snarks into Bitcoin to create Bitcoin Private. Bitcoin Core had no plans to create an update that included ZK-Snarks, so the team at ZCL has decided to make a non-contentious snapshot hard-fork merging a democratic coin, ZCL, with Bitcoin. Since then the BTCP team has expanded considerably.
There are several reasons why Privacy Coins are a hot topic right now...
1. Speed
Privacy coins that utilize ZK-Snarks Zero-Knowledge Proof technology allows for proofs that are only 300 bytes, verifiable within milliseconds. This means can transfer between accounts in about 90 seconds.
2. Fees
Less network congestion means lower fees. If you do not have to increase your fees to get in front of another user, the average transaction fee will be reduced.
3. Innovation
Currently Bitcoin has a data storage problem. While using the network, transactions are filed into blocks then verified. If you increase the block size, you will be able to verify more data per block. With Bitcoin Private, they aim to reduce the amount of data that is verified, which will open the door for faster and more intelligent transacting.
4. Privacy
I see privacy as a by-product in this system. When developers are considering how to fix the problems in Bitcoin, privacy is the clear winner due to the simple fact that you can handle more transactions due to less data and fees.
To accomplish this merge, ZCL development team will sew the ZCL addresses into Bitcoin Private at its inception. This means that ZCL and BTC holders will get BTC Private. ZCL holders will get their BTCP by providing their ZCL keys and BTC holdrs will wake up to see their BTCP added directly to their accounts.
ZCL is currently trading at $75 and is likely to continue to climb when enough people wake up to learn that BTC Private could solve a lot of the problems facing Crypto Currency.
You just scored a @battleaxe 69'r, Now don't go spending all the monies in one place! ;)
here is a 31'r to fill the gap.
lol, he he, thanks...... I've been getting a kick outta going "you have scored a 69'r , it is world famous! don't spend it all in one place" sometimes with a gif of something equally classy :P
So you need to come back into voice chat and grace us with your ASMR skills
You just got a non famous mega money 69'r
Congrats! Remember, don't spend that all in one place, some shit coins could be bought with that, lol
Happy new year @fyrstikken
We need z classic before bitcoin goes to 45k and zcl goes to 600 like zcash
we wil get wealthy on BCP btc private will be our bitcoin salvation
bitcoin salvation.....
sweepin' the nation!
This is the first time that I am exited about a Bitcoin fork. Privacy is hot idd and so are bitcoin forks. Bitcoin Private will have the same mining algorithm as Bgold AND the privacy features. This is why I expect the market cap to be higher than Bgold when it got launched. To accomplish this the price simply HAVE TO RISE! Here is my article about it from a few days ago:
http://hardware-wallet.com/bitcoin-private-hardfork-zclassic/
Would love to buy in if I had any money but I'll look forward to you getting filthy rich! :D
I've picked up some and am hodling stong!
LOL we have a gang in here now
http://Steemspeak.com is where all of us talk if anyone is reading this
it has to be big, lets spread more the news
Hey, thanks for the info on ZCL! Glad to have got in (relatively) early. Thanks for the tip!
Nice one...happy new year @gktown
HAPPY NEW YEAR EVERYONE, HEALTH, HAPPINESS AND JOY FOR ALL OF US, TOGETHER WE CAN MAKE THIS COIN GREAT! BRIGHT FUTURE AHEAD OF US