ZCoin is a decentralized blockchain-based cryptocurrency that supports private financial transactions. These private financial are made possible by the ZeroCoin protocol, an open-source technology developed to make transactions untraceable and anonymous to the public. The ZeroCoin protocol also supports “minting”, in which a cryptocurrency coin or token from another public blockchain can be “minted” into a private coin and sent anonymously over the ZCoin blockchain. Zero-Knowledge proofs allow a user to show ownership of a coin without having to reveal which specific coin they own. ZCoin uses a Merkle Tree Proof algorithm to power its Proof-of-Work blockchain consensus.
ZCoin (XZC) is the digital asset of the ZCoin blockchain that can be sent peer-to-peer and used to power the Proof-of-Work consensus by paying out mining rewards.