Zcoin’ Highly Anticipated Merkle Tree Proofs Algorithm is Now Live
When it comes to ensuring privacy and increasing anonymity for blockchain users, Zcoin (XZC) is one of the leading projects in this aspect of blockchain technology. Zcoin pioneered full implementation of the Zerocoin Protocol, which allows users to have complete privacy over their transactions via zero-knowledge cryptographic proofs.
According to a recent press release, the project has gone live with its Merkle Tree Proofs Algorithm.
Privacy and Anonymity
According to the projects’ white paper, Zcoin is highly focused on making sure that anonymity and privacy are achieved by its users while conducting their various transactions on the network.
is highly focused on making sure that anonymity and privacy are achieved by its users while conducting their various transactions on the network.
Zcoin pioneered full implementation of the Zerocoin Protocol, which allows users to have complete privacy over their transactions via zero-knowledge cryptographic proofs.
Zcoin is also the first coin to integrate the Dandelion protocol in order to protect against tying IP addresses to a particular transaction.
According to a recent press release from Zcoin, the project has switched over from its existing protocol—Lyra2z to a new one called the Merkle Tree Proofs. As a result of this switch, the “Zcoin network will now reject any blocks mined with its old algorithm, Lyra2z, and only accept blocks mined using the MTP algorithm.”
The Merkle Tree Proofs
According to the press release, the new MTP is designed to help fight against crypto mining centralization. This release states that:
“MTP is a Proof of Work (PoW) algorithm which aims to level the playing field for cryptocurrency miners by fighting against crypto mining centralization like ASIC (application-specific integrated circuit) farms.”
The COO of Zcoin— Reuben Yap, has also released a statement regarding this recent development. He stated that:
“We are excited to be the first cryptocurrency to pioneer MTP on a blockchain network and see this as a necessary step in our fight to bring back fair distribution to crypto mining. In the early stages of cryptocurrency, we need to find solutions which prevent those with sufficient resources like ASICs to gain an unfair advantage over the network and push out the everyday crypto user.”
