Zclassic (ZCL) is a cryptocurrency that emerged as a variant of Zcash, initiated by Rhett Creighton. What sets Zclassic apart is the elimination of the 20% founders’ reward and the slow start mechanism typically associated with Zcash. This means that miners receive the full reward for their efforts without any deductions, promoting a fairer distribution of rewards and fostering community-driven development.
Unlike Zcash, which intentionally incorporates a slow launch to regulate supply, Zclassic allows the market to dictate its own price without artificial scarcity. It utilizes the same foundational parameters established during the well-known "trusted setup meeting," which included input from notable figures like Peter Todd, ensuring robust security for the network. The integrity of the system relies on the confidentiality of the setup keys; if even one participant keeps their key secure and destroys it, the entire framework remains protected.
Zcash operates under the aegis of Zero Coin Inc., which utilizes a 20% mining "Founder’s Reward" to finance its activities. In contrast, Zclassic eliminates this fee, allowing miners to benefit fully from their contributions. This approach enables users to engage with a blockchain that shares the technological advancements of Zcash while bypassing the additional costs associated with the founders' reward.
Zclassic aims to closely align with Zcash in terms of technology but is committed to refraining from any pre-mining, founder’s rewards, or fees that would benefit a select group of individuals, whether through election or appointment. The focus is on equitable participation and transparency within the cryptocurrency ecosystem.
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