ZClassic (ZCL) “appreciation club” seems to have stuck around despite the general confusion revolving around the currency for the past 6 months or so. To get back to when it all began, ZClassic had previously fallen into turmoil, with two different teams submitting two different ideas on the matter of ZCL’s future.
In the meanwhile, Anoncoin (ANC), a new hard fork derived from ZClassic and Bitcoin appeared, additionally stirring things up. Eventually, the care of ZCL was “assigned” to the team called ZClassicCE (Community Edition), that prior to getting support for ZClassic from Bitcoin Private (BTCP) team has sent an official proposal letter to BTCP.
In the end, ZClassic Community Edition did get the status of the official ZClassic team, so what is going on behind the scenes of renewed ZCL?
ZClassic Heading towards New Updates and Developments
ZClassic started out back in 2015 as a hard fork product derived from a well-known privacy coin, ZCash. Since then, ZClassic has had some decent runs in the market, having reached an all-time high of over 200$ per one ZCL unit back in January, also keeping the price above 160$ in February 2018.
However, ZClassic had then fallen into some sort of motionless state as it turned out that the currency was left to take care of its self. Even though decentralization is what describes cryptocurrencies, an asset with the network has to have a dev team in order to live up to expectations of the community.
Due to the lack of a dev team, ZCL plummeted in the market as well. However, two teams seeking support from BTCP team appeared with official proposals, among which ZClassic Community Edition stood out, finally getting a green light for taking over ZCL developments.
Back in June, precisely on June 1st, ZClassic CE team sent their proposal to BTCP, expecting the answer by September 1st. The answer came earlier than expected, alongside with another announcement regarding a sudden hard fork that would combine ZClassic and Bitcoin core systems in order to create Anoncoin that was officially launched on September 10th.
Although team CE announced their support for Anoncoin, ANC doesn’t seem to be doing that well in the market as it plummeted by -30% in the course of the last 24 hours, while ZCL is seen going up by over 18% in a bold rebound, now being traded at the price of over 4$ per one unit.
Moreover, the new ZClassic team wanted to update the community on what is going on behind the scenes, as ZCL is getting ready for new updates and developments as described in the official proposal sent over to the BTCP team back on June 1st.
First of all, the new team stated that there is a lot of planning going on within the team when it comes to making new updates, currently placing focus on ZCL Core.
The team is currently looking into updating ZClassic Core as they have stated that there are lots of systematical moves that need to be done in order for ZCL Core to align with the most recent updates to the ZCash network.
As stated in a Medium post released on September 20th, the team is already working on these updates and will update the public once the upgrades are ready to be released for the public.
As per the community requests that the team has picked up along the way, they realized that the community is seeking for more direct insight into the future developments of ZCL, as well as more regular announcements from the CE team, so the team is working on setting up a unique channel that should eventually become an app.
Mining Pool and Wallet Updates – Infrastructure Tweaking
Some of the crucial works the team is involved in at the current moment is preparing the official mining pool for ZClassic, as well as releasing a new version of Electrum wallet.
While the version of the wallet, called 1.0.6 has been released for Linux in the Github repository, MacOS version still has some testing to go through before being officially released. The team has also stated in their official Twitter post that the version of the wallet for Windows is also completed, however it would need to get through some testing before getting released.
The team added that they, the core team, are currently covering the costs of the network maintenance for the community, however, they are already working on a long-term solution, so they have built an official mining pool that ought to be released once the tests are successfully conducted.
In that spirit, the team is seeking for the feedback on the matter of their proposal of having 1% going to all infrastructure needs of the network, which includes block explorers, core network, different servers, and more.
The mining pool that should be released for the community when the tests are done should become the main source of revenue for the maintenance of the ZCL infrastructure.
It seems that the CE team has all priorities set up straight for now as ZCL is showing quite a progress in the market with the latest change on September 24th, going up by over 18% in the course of a single day.