Current PriceR$ 41.68
Last 30 Days
Zcoin uses the Zerocoin protocol to provide anonymous transactions in a unique and scalable way. The protocol, originally meant to be an extension of Bitcoin, allows you to send coins without transaction history. Bitcoin records the history of every transaction in a public book for anyone to see. Wallet addresses are only pseudo-anonymous with the potential for people to link their identity to an address. However, with Zcoin, you can preserve the fungibility and privacy of your spending.
By submitting Zcoins, the process works just like Bitcoin, with transactions recorded in a public ledger. However, the Zerocoin protocol involves destroying your Zcoins to mince a Zerocoin. Zerocoins are new coins with no history of transactions. "You can think of the Zerocoin layer as a form of coin laundry where you will place your existing 'dirty' coins (which have a long history of transactions) and then redeem new 'clean' coins that look new and have no history of transactions. "
You can use the Zerocoins in an expense transaction, which converts the Zerocoins back into Zcoins. With many people coining Zerocoins, it will not be obvious where the Zerocoins came from, thus preserving their anonymity.