Zcoin is an open-source privacy coin. It has seen a series of technological advancements since its inception. Zcoin pioneered the use of Zerocoin to enable privacy. However, it has since transitioned into a more scalable scheme called Sigma.
Recently, Reuben Yap, Project Steward of Zcoin (XZC) elaborated on the top 5 areas of Zcoin’s roadmap. The following content is excerpted from the Zcoin Roadmap Update Session.
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Lelantus
Lelantus is a new privacy protocol. It has the potential to make Zcoin one of the best privacy coins. Zcoin is taking a really interesting step where they are going for ‘privacy-on’ by default but with an ‘opt-out’ option. In the current privacy space, we have seen only privacy opt-in (which is optional) or privacy by default (everything private). Ruben considers this as the most important development of Zcoin since its inception.
With the upcoming Lelantus launch, Zcoin hopes to see greater adoption and usage. The Lelantus protocol will bring in auto-anonymization to the Zcoin platform. The first phase of Lelantus will launch in the 3rd quarter of this year. The second phase will go live in 2021. These will enable direct anonymous payments.
Read More: Zcoin Lelantus Protocol
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Chainlocks
Before Lelantus, Zcoin will implement Chainlocks. Zcoin just completed the movement of Znodes infrastructure to deterministic masternodes. This makes the Znodes much more reliable. This strong base helps to implement Chainlocks. This has all the benefits of Proof of Work combined with the security of Proof of Stake. Once Lelantus is live, Zcoin will have instant private transactions.
Read More: Zcoin to Launch Deterministic Masternodes and LLMQ
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Elysium
Elysium is the Tokenization Layer. It is set to activate in July. It allows people to create tokens in the Zcoin blockchain and inherit all privacy features of Zcoin. Zcoin recently entered into the Ren Alliance. It is a way to bridge Zcoin tokens into the Ethereum ecosystem in an almost trustless manner.
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Bridge Ethereum tokens into the Zcoin Elysium layer
Stable coins like USDT or DAI do not have any privacy features. If they can be represented in the Elysium layer, they can be used as a Private Stablecoin.
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Mobile Wallet
The mobile wallet is delayed for quite some time. A mobile wallet with full sigma privacy support will be launched in a few weeks.
More Updates
Zcoin Halving: Zcoin halving is coming up in September. It is the first halving and marks the end of the founder’s rewards. There is also a change in the way the block reward is divided.
Currently, rewards are divided as follows: miners 56%, Znodes 30%, founders and seed investors 8%, and development 6%. Post halving, founders, and seed investors will no longer get rewards. The reward distribution will be changed as follows: miners 50%, Znodes 35%, and development 15%.
Read More: Zcoin Announces Post-Halving Block Reward Allocation
Zcoin Reserve
A separate fund called the Zcoin reserve fund is created. This will be useful when the Zcoin (XZC) price rises. This fund can be used in very clear circumstances, for example, bug bounties, code audits, etc. It is going to be completely transparent.
Conclusion
As per Ruben, in 2020 Zcoin focussed on cleaning and fixing the backend. In 2021, Zcoin will become easy to use and focus on adoption. To ensure development, Zcoin Crowdfunding is in progress. The crowdfunding has raised 4000 Zcoins for Lelantus audits.
The original Zcoin roadmap update can be found here.
We also covered Zcoin recently on Altcoin Buzz’s YouTube channel – TOP CRYPTOCURRENCIES THAT ARE READY TO MOVE!
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