Friday, July 30, 2021

ZClassic is looking to relaunch its mainnet following a price collapse this year

The Takeaway:

After crashing down last year ZCL is looking to relaunch its mainnet. Earlier in July Bitterx delisted the coin from the exchange which caused its price to collapse further. Currently, ZCL is being traded at its lowest at $0.38.

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ZCL coin will go through a relaunch for its mainnet after a hard fork led to its crash last year. The new technology will protect it from the attacks on blockchain and rewriting history. ZClassic emerged in 2016 as a fork of privacy-focused ZCash (ZEC) with no “founders tax.” 

In 2018 when the hard fork took place, a snapshot of all existing ZCL and BTC holdings occurred. Anyone holding ZCL or BTC in a wallet or supported exchange was credited Bitcoin Private (BTCP) at a 1:1 ratio. This event spiked the price of ZCL to new heights before it crashed down and lost 99% of its price. 

Earlier in July ZCL got delisted from Bittrex which led to the crash in its price. Currently, the coin is being traded at its all-time low $ 0.38. ZCL is looking to restart the project from scratch by inviting miners and node operators to rebuild the network. 

The new version will be supported on Dorbi exchange, and the exchange will also lower the required number of confirmations for a transaction.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Glenn Harper
Glenn Harper
Glenn has only two interests: Bitcoin and Aviation. After completing his graduation from San Diego State University in 2006, Glenn started working in the airlines and aviation industry. Aviation was his only passion before he came to know about bitcoin in 2012 after which he decided to dedicate 8 hours of his day for aviation and 8 hours for learning and writing about bitcoin and the technology behind it. Glenn lives with his wife and a 7-year-old son who mines ethereum on his computer and is also quite passionate about cryptocurrencies.

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