What is BitcoinZ? BitcoinZ is a blockchain project focused on privacy and decentralization that was launched anonymously in 2017. Koindeks.com In this article, we tried to answer questions such as what is BitcoinZ, what it offers, what is BTCZ, what is it for, how to get it. Let’s examine this project, which includes the best sides of Bitcoin and ZCash, together.
What is BitcoinZ?
An anonymous developer launched the formation block of the BitcoinZ (BTCZ) network in September 2017. Meanwhile, he published a community-focused manifesto and adopted the motto “We trust in decentralization”. Currently, BitcoinZ is self-running with no company structure, CEO or ownership. The network is managed by enthusiastic development teams and a dedicated user community called “ArmyZ”. This project, which has some common features of ZCash and Bitcoin, offers services in the field of closure and payment.
What does BitcoinZ offer?
BitcoinZ works with a Proof-of-Work (PoW) consensus system similar to Bitcoin. However, BTCZ mining is leaving BTC using the ZHash algorithm. ZHash makes it possible for anyone with GPU processing power to mine with a mechanism called “ASIC resistor”. In this way, the network prevents mining from entering the administration of central companies. In addition to the mining difference, BitcoinZ has a decentralized exchange (DEX).
BitcoinZ-DEX allows users to do peer-to-peer (P2P) trading through their local wallets. This DEX does not require tokenization. So tokens can be exchanged directly. In addition, it does not contain any prices associated with fast swap processes and centralized exchanges. However, when users make the process, they pay a buyer price of 0.15%. Finally, since BitcoinZ is built with the ZCash core code, it also allows for internal and anonymous cryptocurrency transactions.
What is BTCZ? What’s the use?
BTCZ coin is the native cryptocurrency of the BitcoinZ network. This cryptocurrency allows for unknown and anonymous processes. Altcoin holders can trade cryptocurrencies by hiding their identities thanks to ZCash’s zkSnarks. They can also use BTCZ for digital payments, just like Bitcoin. Cryptocurrency offers extremely low transaction prices while also supporting E-commerce functionality. It also acts as the base currency for the DEX platform. The altcoin, which has a supply of 21 billion, can be obtained by mining PoW.
What is BitcoinZ? How to get BTCZ?
BitcoinZ currently does not see transactions on crypto exchanges with large trading volumes such as Binance. Investors looking to buy BTCZ need access to exchanges such as WhiteBIT, STEX, TradeOgre, Crex24 and Graviex. After doing this, users can open an account and buy the altcoin by uploading an asset to this account according to BTCZ coin pairs.