There is a growing concern about Zcoin (XXC). Investors are getting worried about the ever dropping value of the coin especially since the beginning of this year.
Some may argue out that it is the current general trend in the cryptocurrency markets but for Zcoin, it has become too much. Even if other major crypto coins are also currently registering a bearish trend, non has had a major drop like the XZC coin.
Zcoin (XZC) is one of the cryptocurrencies that have successfully been able to attain total anonymity and privacy in its transactions. The crypto coin uses zerocoin protocol technology. By making the digital coin anonymous, its users are not vulnerable to hacking or any other form of internet malpractice.
Zcoin (XZC) is one of the oldest crypto coins and it has maintained a clean record all through.
However, the crypto coin’s value has remained drastically low for the last two years with a spike being witnessed around December 2017 and January 2018. After the sudden appreciation in price, Zcoin (XZC) investors got quite excited.
But unfortunately, the crypto coin started deprecating and its price has gone too low over the last two months. There are fears that the price will go below $20.
What is causing the drop in price?
To begin with, some investors are finding it had toto trust the minting process of Zcoin where the user is creditted with new coins that have no attached history at all.
Minting: Zcoin (XZC) minting is the process through which a user gets new XZC coins that has no history. In short, you can’t trace the origin of the coins. The coins could be mined, or from another user who has sold to you or worst still from a hacker.
Although it is true it is quite difficult to hack a cryptocoin without history. The internet technology is still evolving and you never know what the hackers are up to. Without a traceable history anybody can use Zcoin XZC coins regardless of how they obtained the coins. This posses a great challenge and it is also keeping off investors.
Zcoin XZC future
Although, the crypto coin’s future looks quite non-promissing, the Development team is sure working on making the crypto coin more attractive to investors.
Zcoin uses MTP proof of work which enables any user to mine the coin. This gives the users the liberty to mine the coin.
The development team is also working on Znodes to reduce the amount of rewards that goes to the founders. This will help in making the crypto coin more decentralized.
Crypto Exchange Platforms listing Zcoin XZC
There are a number of crypto exchange platforms that list XZC. These are:
Zcoin XZC Wallets
There are only two confirmed cryptocurrency wallets that support Zcoin. These include the Zcoin’s official GUI wallet and Coinomi, which is a mobile wallet.