ZCL rising due to the news of Bitcoin Private hard fork

Zclassic founder is working on the project and ZCL will undergo a hard fork in 2018 after which all ZCL holders will receive Bitcoin Private tokens
27 December 2017   2371

ZClassic is a coin that appeared on November 6, 2016 forking from ZCash in order to bring such changes as the removal of slow start and 20% founders reward. ZClassic did not receive a lot of public attention lately due to absence of any outstanding announcements, but from December 8, when Rhett Creighton tweeted that he would resume work on ZClassic, the coin started actively rising in price.

  • Total circulating supply of BTCP: 18,500,000 BTCP (supply BTC + supply ZCL)
  • Max supply BTCP: 21,000,000 BTCP

As it is stated on ZClassic subreddit thread, if the users own Zclassic and/or Bitcoin during the snapshot, they will receive Bitcoin Private in the ratio of 1:1. The users are not recommended to hold ZCL and BTC on Bittrex because it is still unclear if they will support the fork or not.

The community is still in the process of deciding the details of the fork, choosing between non-SegWit BTC addresses and BCH addresses.

The news about the upcoming fork and Bitcoin Private tokens distibution attracted lots of attention to ZClassic coin and the users started actively buying it in order to receive distributed tokens. This lead to the surge in ZClassic price which rose 453% within past 7 days and 175% within past 24 hours.

Zclassic in the list of coins ranked by market capitalizationZClassic in the list of coins ranked by market capitalization

The price of ZClassic grew from $4,66 on December 20 to $31,9 on December 27 while the market capitalization increased by $50 million within only one week reaching the mark of $57 million at 6:04 UTC on December 27.

ZClassic Charts december 2017ZClassic Charts

At the moment of press, these are the main market parameters of ZClassic:

  • Average Price: $25,72
  • Market Cap: $46 542 627
  • 24h Volume: $25 396 900 

Zcash Privacy to Have Vulnerability, Researchers Say

Four researchers from University College London have identified patterns in certain kinds of Zcash transactions that weaken their anonymity
10 May 2018   838

George Kappos, Haaroon Yousaf, Mary Maller and Sarah Meiklejohn found that when coins move from "unshielded" to "shielded" and back to "unshielded" addresses, they lose much of the anonymity that zcash users expect. The team noted that "relatively simple heuristics ... reduce the size of the overall anonymity set by 69.1 percent." This is reported by Coindesk.

Note that ZCash, positioned as one of the most promising and respected confidential crypto currency, offers two types of addresses: "T-addresses" are transparent and unprotected, transactions and balances are publicly available. In turn, "Z-addresses" are protected and invisible to the general public.

Thus, transfers from one unprotected address to another are completely public, whereas transactions between protected addresses are almost anonymous (only time marks and commissions related to mining are displayed).

At the same time, researchers found that transactions involving different types of addresses are much less confidential. So, if you want, you can get information even about Z-addresses, the report says. 

Our heuristics would have been significantly less effective if the founders interacting with the pool behaved in a less regular fashion. In particular, by always withdrawing the same amount in the same time intervals, it became possible to distinguish founders withdrawing funds from other users.
 

The University College London Research Team

These transactions (as well as similar ones carried out by the miners) are caused by the necessity of holding ZCash coins through secure Z-address pools before they can be used for other operations.

Researchers also noted that they told the founders about the problems found before the publication of the report, which has already led to a change of patterns. In turn, the founder of ZCash Zooko Wilcox and marketing director Josh Swihart in the reciprocal message congratulated the university team.

It is valuable to understand how much privacy is lost when using shielded addresses as a pass-through mechanism, but using it in that way is not recommended. Instead, store your Zcash in a shielded address.
 

Zooko Wilcox and Josh Swihart

Zcash

Wilcox and Swihart said that planned upgrades to the zcash protocol would lessen the risks to anonymity identified in the reasearch.