Zcoin’s two main pillars are privacy and decentralization. Its Zerocoin anonymization method is built into it at a protocol level and uses proven cryptography that allows users to wipe transaction history from a coin while retaining supply auditability. Unlike other privacy mechanisms which merely obfuscate the trail, the Zerocoin protocol allows complete breakage of the transaction trail while remaining auditable.
Zcoin also has a working prototype of MTP, a new proof of work algorithm that is meant to be truly ASIC resistant by requiring huge memory requirements on the miners while remaining lightweight on the verifiers. MTP is scheduled to launch in 2018. The project aims to bring back the true vision of what Bitcoin was supposed to be, private, fungible and decentralized.
Total Supply: 21,400,000
Circulating Supply: 3,487,652
Abstract—Bitcoin is the first e-cash system to see widespread adoption. While Bitcoin offers the potential for new types of financial interaction, it has significant limitations regarding privacy. Specifically, because the Bitcoin transaction log is completely public, users’ privacy is protected only through the use of pseudonyms. In this paper we propose Zerocoin, a cryptographic extension to Bitcoin that augments the protocol to allow for fully anonymous currency transactions. Our system uses standard cryptographic assumptions and does not introduce new trusted parties or otherwise change the security model of
Bitcoin. We detail Zerocoin’s cryptographic construction, its integration into Bitcoin, and examine its performance both in terms of computation and impact on the Bitcoin protocol.