[ANN] Zclassic, Zcash Fork No Premine, No 20% Founders Tax

[everettforth]

Zclassic is a fork of Zcash 1.0.1 with minimal changes except for 2 major things.

1. 20% Founders Reward is removed.
2. Slow start is removed (blocks start at 12.5 ZCL rewards per block).

Parameters:

PoW: Equihash
Halving rate: Every 4 years (same as Zcash and bitcoin).
Starting Block Reward: 12.5 coins every 2.5 minutes (Same as Zcash.  50 coins per 10 minutes, like Bitcoin).
Total eventual supply: 21,000,000 (21 million), as per Bitcoin (Unchanged from Zcash)
Difficulty adjustment algorithm: Digishield V3 (Unchanged from Zcash)
Difficulty adjusts each block (Unchanged from Zcash)
Symbol: ZCL (pronounced "ZICKLE" like "NICKEL")

Trusted Parameters
Zcash (and Zclassic) relies on trust that a private key was destroyed.  If anyone poseses the private key, that person can mint unlimited coins for himself/herself.  Zcash designed a ceremony where 6 individuals each created a shard of a private key and destroyed it.  As long as all 6 individuals did not conspire and collude to share their shards, the private key is destroyed.  Here are mre details about the ceremony.
https://z.cash/blog/the-design-of-the-ceremony.html

Zclassic uses the exact same trusted parameters Zcash uses.  This is also what Peter Todd suggests:
https://www.reddit.com/r/ZClassic/comments/5bbpmr/we_should_invite_petertodd_to_our_trusted_setup/

Block explorer:
https://classic.zcha.in/
https://zclassic.31337.eu/insight/
https://cronicc.github.io/

Website:
http://zclassic.org

CoinMarketcap
http://coinmarketcap.com/currencies/zclassic/

WhatToMine
http://www.whattomine.com/coins/167-zcl-equihash

Source Code:
https://github.com/z-classic/zclassic

Reddit:
https://www.reddit.com/r/ZClassic/

Slack Invite (over 300 members):
http://zclassic.herokuapp.com/

Freenode IRC:
#zclassiccoin

Pools:
https://pool.mn/zclassic
https://www2.coinmine.pl/zcl
https://pool.cryptobanx.io/zcl/
https://zcl.suprnova.cc/
https://zclassic.miningpoolhub.com/

Exchanges:
https://www.cryptopia.co.nz/Exchange/?market=ZCL_BTC
https://c-cex.com/?p=zcl-btc
https://www.tradesatoshi.com/Exchange?market=ZCL_BTC
https://bittrex.com/Market/Index?MarketName=BTC-ZCL

Twitter Social Proof:
https://twitter.com/SatoshiLite/status/796058283312189440
https://twitter.com/zooko/status/795002870651322370

Medium:
https://decentralize.today/zcash-miners-stop-paying-20-genius-tax-486d9f40884f
https://decentralize.today/five-reasons-zcash-is-the-most-corporate-cryptocoin-youve-ever-seen-a77ac430b0e8

Announcements
[Pre Ann] https://bitcointalk.org/index.php?topic=1671125.msg16781376#msg16781376
https://twitter.com/HeyRhett/status/794773732933799936
https://twitter.com/HeyRhett/status/794799248759885825

Todo:
Windows Wallet
IOS / Android Wallet

Note from developer:
I started this work on my own, writing Medium articles and reaching out to people on Twitter because I believe the ZK-SNARK technology in Zcash is the future of money, but I couldn't stomach the idea of it being taxed 20% by a small group of people.

To be honest, I never made an altcoin before.  I spent a week on my own obsessing over the Zcash code to see what could be done.  Soon after the Zcash launch, I submitted a pull-request to remove the Founder's Reward, which was quickly closed:
https://github.com/zcash/zcash/pull/1714

When I found out SuprnovaPools had 51%+ mining power of Zcash, I reached out to them to use my fork:
https://twitter.com/HeyRhett/status/792787816329515009

After failing at those two approaches, on Halloween, I announced, "I'm forking Zcash with no 20% Founders Reward.  Ping me to help.  There won't be any reward for helping."
https://twitter.com/HeyRhett/status/793201219393105921

I offer my sincere apology to the community for people who feel they may have missed the announcement because there wasn't enough advance notice.  I was reaching out to people, but I did not have the large exposure of a foundation with investors.

Now that the coin is live, most of what you see above is work done by the community.  This coin is almost 4 days old, and I'm amazed at what we've done so far.

[1685733371]

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[1685733371]

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[1685733371]

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[str4wm4n]

Zoin (ZOI)

If you like Zclassic, checkout Zoin!

It's Zcoin's Zclassic.

Zoin is a fork of Zcoin without the founder's tax just like Zclassic did.

It's also pretty undervalued at the moment, and getting masternodes soon.

https://zoinofficial.com/

https://bitcointalk.org/index.php?topic=2085112.0

https://coinmarketcap.com/currencies/zoin/

[mistercashking]

Cool looking forward to mining it. Hopefully there will be some pools soon after launch.

[cewekimut]

Indonesian translation reserved

[everettforth]

YES! been waiting for this

Will it be a slow start?

How can we trust your trusted setup?

Thank you! Please check the announcement.

[bandarfjb]

I am watching this, will mining at first, so I'm waiting for the pool.
Do you have specific plan for this coin?
Any exchangers at this moment?

[sammy007]

Don't touch PowLimit you fucking moron https://github.com/z-classic/zclassic/commit/c8898dd9d2dc90dddd7a77689474155b50cb03de#diff-64cbe1ad5465e13bc59ee8bb6f3de2e7L46

Those fags changed it last second, are you gonna do the same or you lowered it for instamine purpose?

[everettforth]

Don't touch PowLimit you fucking moron https://github.com/z-classic/zclassic/commit/c8898dd9d2dc90dddd7a77689474155b50cb03de#diff-64cbe1ad5465e13bc59ee8bb6f3de2e7L46

Those fags changed it last second, are you gonna do the same or you lowered it for instamine purpose?

We don't know the initial mining power, and it will adjust each block.  We expect to have much lower initial mining power than Zcash or Bitcoin.  If we leave it at default zcash difficulty, it will take days to mine a block  What do you suggest?

[sammy007]

Don't touch PowLimit you fucking moron https://github.com/z-classic/zclassic/commit/c8898dd9d2dc90dddd7a77689474155b50cb03de#diff-64cbe1ad5465e13bc59ee8bb6f3de2e7L46

Those fags changed it last second, are you gonna do the same or you lowered it for instamine purpose?

We don't know the initial mining power, and it will adjust each block.  We expect to have much lower initial mining power than Zcash or Bitcoin.  If we leave it at default zcash difficulty, it will take days to mine a block  What do you suggest?

I suggest to keep it as in zcash, it's not so hard actually (just 256 times harder) it's still mineable with single CPU. This way you will not break existing software already implemented for zcash.

Look at all scrypt forks, they never changed powLimit to stay 1-1 with original. This is correct, because zcash is first equihash coin and its powLimit now is a "standard" actually. And it's necessary to keep it to prevent instamine due to lack of slow start.

[wakier]

wow been waiting for another version of zcash, watch this carefully 

[sammy007]

Did you change datadir?

[everettforth]

I believe this is fixed now on dev branch, which is what we're testing.

        consensus.powLimit = uint256S("0007ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff");
        consensus.nPowAveragingWindow = 17;

Thank you, please review this branch, we need feedback before the launch!

You made this change.

consensus.nPowAveragingWindow = 0;

Do you know what you're doing?

[ajqjjj]

pool?. wallet windows?

[Brob12321]

Looks a bit rushed and not too much information about exchanges or anything, also no fancy graphics lol jk

[sammy007]

Looks a bit rushed and not too much information about exchanges or anything, also no fancy graphics lol jk

On mt. gox soon.

[bolivarcoin]

Are you planning to add it to Yobit or any other exchange? POLO maybe?

[Brob12321]

Are you planning to add it to Yobit or any other exchange? POLO maybe?

Lol yeah Yobit and maybe TradeSatoshi that exchange looks real good I like the 0 volume for just about every single coin.  So Mt.Gox, Yobit and TradeSatoshi sounds like a plan !

[jstern]

Omg, too many Z coins. Just above this coin's thread there's a coin named zoin, which just launched today.

[jstern]

Looks a bit rushed and not too much information about exchanges or anything, also no fancy graphics lol jk

Yeah, why must it be launched as soon as possible. At least let people find out about it. Mining as soon as possible is similar to a premine. 

[bolivarcoin]

But some of the new ZCOINS coins are scrypt made on walletbuilders

Omg, too many Z coins. Just above this coin's thread there's a coin named zoin, which just launched today.