The key difference between Zclassic and Bitcoin
If you’ve decided to exchange ZCL to BTC we recommend you to dig deeper into the technologies and learn the difference between these two currencies as it is important in when you invest in cryptocurrencies.
Bitcoin is the starting point for all cryptocurrencies as it was the first one launched in 2009. All currencies that have been created afterward are in fact its derivatives. Bitcoin allows to exchange value for its users without relying on any third party because all the information about the transaction is written into the public ledger for anyone to see. If you know the identification of a given transaction you can find it on the blockchain and see how much was transferred between which wallets. It is very difficult to identify the owner of a given wallet but still not impossible. This is where Zclassic can help you and this may be the reason for you to exchange Bitcoin to Zclassic.
Zclassic is the fork of Zcash that aimed to give cryptocurrency users more anonymity. Just like Zcash, Zclassic uses shielded transactions and thus makes it impossible to trace the min the network. Remember this when you convert BTC to ZCL.
What is Bitcoin mining algorithm?
Before you exchange ZCL for BTC, we strongly recommend you to learn first how these two cryptocurrencies are created. Being the first cryptocurrency in the area Bitcoin utilizes the Proof-of-Work algorithm for mining. The specialized equipment called ASICs consume electricity to resolve computational problems in order to identify cryptographically encoded blocks linked into one chain. Whenever somebody finds a new block he gets a reward in Bitcoins which can later be sold on an exchange platform for profits. Although Bitcoin mining was profitable in the early years when the cryptocurrency was not so popular and anyone could gain these coins on a laptop or a PC, now with the rising of its popularity you have to consume too much electricity and eventually, mining is not so profitable anymore
What is Zclassic mining algorithm?
Zclassic is a fork of Zcash which is in its turn a fork of Bitcoin, so it uses the same mining algorithm with a few minor differences. Both on Zcash and Zclassic, 10% of the block reward are forwarded to stakeholders of Zcash company for the first 4 years of the coins’ existence up until the year 2020.
Zclassic is based on the Equihash algorithm whic his designed specifically for end-users’ machines and can’t be applied on ASICs. Remember this fact when you make a decision to convert Zclassic to Bitcoin.
The circulating supply of Zclassic equals to , while its maximum supply equals to .
For Bitcoin, the circulating supply equals to 17,608,175, while its maximum supply equals to 21,000,000.
If you want to buy ZCL with BTC, the market capitalization is a very important index that you should pay attention to.
For Zclassic, the current market capitalization equals to . Bitcoin’s capitalization equals to $70,852,377,897.00.