Zcoin: Ledger Wallet Support
Most blockchain projects have been making strides with regards to adoption, and partnerships. Zcoin has partnered with Ledger Wallet, offering more storage options and security to their community. A tweet from the company reads:
We are happy to announce that Zcoin is now finally available on the @LedgerHQ hardware wallet. The Zcoin app can be downloaded from the Ledger Manager and used together with the Electrum and Znode tools.
Zcoin (XZC) is an open source blockchain project that focuses on privacy and anonymity for cryptocurrency transactions. The project, otherwise known as Zerocoin employs zero-knowledge protocol. This protocol is currently one of the most cited in cryptography papers.
Putting what Zcoin does in perspective, whenever you perform a transaction on any of the popular blockchains like Bitcoin or Ethereum, there is a trail on your transaction history, which is linked to your coins. This in itself is a vulnerability because your privacy and identity can be compromised once your IP or personal information is linked to your transactions.
What Zcoin does is to hide your transaction histories for the actual coins sent; only the sender and receiver are aware of the exchange of funds.
To keep the network secure and verify computationally intensive transactions, Zcoin offers incentivized masternodes, known as Znodes. Znodes are trustless, and the following criteria are needed to host a masternode:
- 1000 XZC
- 1 GB of RAM
- VPS or computer with fixed IP address
- About 25gb of hard disk space