ZClassic released beta version of a desktop wallet

The development team of ZClassic announced ZClassic Wallet beta release available on desktop for Mac, Windows, and Linux
09 January 2018   716

On January 9, the team behind ZClassic has made an announcement presenting the beta release of ZClassic desktop wallet, which the development team worked nonstop on to get the wallet to the users. It was reported that 100 volunteers have already tested the wallet alpha version.

The release of the wallet can be found on GitHub, and the team reported that they have put together 6 dedicated server nodes around the globe to ensure connectivity for all users with more to come.

Nevertheless, the team highlighted that this is a beta version, which means that there are some issues noted in alpha testing that may be unresolved:

  • Users cannot import a private key into the wallet, though they can export it. The only way to import your wallet is with a wallet.dat file placed in C:\Users\Your-Username\AppData\Roaming\Zclassic
  • Sometimes the program does not start properly on the first start up
  • The sync status jumps around a lot when users first start the program, but eventually it should synchronize
  • The Mac version only works on the latest version of Mac OS (High Sierra and Sierra) and will not work on older versions
  • The program is 64 bit and will not work on 32 bit OS
  • When sending funds, users should allow for a small transaction fee and are recommended to leave at least 0.0001 ZCL in the wallet to pay for a fee when performing transactions
  • Users cannot run this wallet simultaneously with ZCash wallet
  • Transparent addresses will not show in the "addresses" tab until a transaction has posted to it, and users are recommended to make one in the "receive" tab and then use immediately

Previously, we have reported that the hard fork of ZClassic under the name Bitcoin Private was scheduled for January of 2018, but no exact date was known.

Currently, the general trend of ZClassic price is rising, as it grew 83% within past week, increasing from $85 on January 3 to $239 on January 7, but then significantly dropping to the point of $185 on January 9. Nevertheless, the market capitalization of the coin increased from $196 million to $334 during the course of past 7 days.

ZClassic Charts january 2018ZClassic Charts January 2018

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

  • Average Price: $187,80
  • Market Cap: $339 885 869
  • 24h Volume: $25 122 100

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   840

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.