ZClassic (ZCL): Mark Your Calendar For Feb 28 To See New Excitement

It’s official! We are only days from Bitcoin’s latest fork as ZClassic (ZCL) braces to execute a Bitcoin Snapshot on February 28, 2018.

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It’s official! We are only days from Bitcoin’s latest fork as ZClassic (ZCL) braces to execute a Bitcoin Snapshot on February 28, 2018.

As of now, even with the controversy on the relevancy of the fork, the ZClassic team of developers is opting for a hard fork instead of tinkering with the block sizes or going the Segwit way.

These new developments perhaps explain the current excitement around ZClassic as holders of both Bitcoin and ZEC prepare to receive a 1:1 ratio of the yet to be forked BTCP coins.

What is BTCP

Well, there has been lots of excitement around ZClassic with its price hitting the triple digits mark since the announcement of an upcoming fork on its Blockchain as well as Bitcoin’s Blockchain to create the new private Bitcoin called Bitcoin Private.

Rhett Creighton, the creator of ZClassic, is instigation this hard fork that is set to boost Bitcoins privacy and fulfill Satoshi’s vision of an autonomous and private centric cryptocurrency.

BTCP will take advantage of the unique privacy technology embedded in ZClassic (ZCL), combine them with Bitcoin’s reliable Blockchain, to build a private centric cryptocurrency that keeps transactional metadata unidentifiable. Furthermore, with a team of over 20 engineers and tens of contributors, BTCP is set to establish its position as a transparent, community-driven platform.

ZClassic making Bitcoin Private once more

There is hardly any instigated fork in the crypto space that goes about without its fair share of controversy. Bitcoin Private is certainly no exception to the rule and even though it is touted as “the private, decentralized fast open source community driven coin” it is definitely not the only one competing for the title of the ultimate private coin.

For instance, Monero, Verge, and ZCash (the parent Blockchain to ZClassic) are only a few of the various private centric coins claiming the throne. The question, therefore, remains to be whether ZClassic will execute the fork gracefully enough and have BTCP off to a good start.

The imminent Snapshot and hard fork

The February 28 snapshot of both the ZClassic Blockchain as well as Bitcoin’s Blockchain is by and large one of the biggest events currently set to happen in the crypto space.  Holders of Bitcoin and ZClassic will be waiting for the launch of BTCP’s main net where a total of 20 million BTCP coins will be created through supply combination of both BTC and ZCL Blockchains.

The hard fork will follow right after the snapshot to take place two days later. The hard fork will split the Bitcoin Blockchain producing a BTCP Blockchain that will fundamentally remain incompatible with the main BTC Blockchain.

By enabling ZClassic’s zk-snarks technology on the new BTCP Blockchain, a more private centric spin-off of BTC will be created. So far news about the fork has not gone unnoticed. ZCL has seen a rise in price from a paltry $1 per ZCL to a mark of over $180 according to CoinMarketCap.

Conclusion

As crypto enthusiasts rush to gather BTCP, it remains to be seen whether BTCP will become a successful fork. As of now, it stands out from a bunch of previous forks that lacked in smart thinking or well thought out plans.

However, the jury is still out on the relevancy of the fork considering ZClassic (ZCL) already provides a privacy-centric alternative coin. At the moment there already exists two major exchanges i.e. Cryptopia and Bittrex where ZClassic can be traded and as a result, these two platforms are likely to be the main distributors of the BTCP coins.

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