ZClassic
Crypto Overview
Overview
ZClassic (ZCL) is a fork of Zcash that removed the controversial 20% founder's fee while maintaining the core privacy features. It was created in 2016 to provide a more equitable distribution model for privacy-focused cryptocurrency transactions.
Purpose and Utility
The primary purpose of ZClassic is to serve as a medium of exchange with enhanced privacy features through zk-SNARKs technology. This allows users to shield transaction details while maintaining blockchain verification.
Development and Adoption
While ZClassic maintains an open-source codebase, development activity has been minimal in recent years. The project has experienced periods of reduced community engagement and limited updates to its core protocol.
Token Distribution
ZClassic launched with a fair mining approach, with no pre-mine or founder's rewards. This aligns with principles of equitable distribution and transparency. Mining is open to anyone with appropriate hardware through a Proof-of-Work consensus mechanism.
Business Model Analysis
The core functionality of ZClassic - enabling private, verifiable transactions - is inherently permissible under Islamic principles as it facilitates legitimate trade and privacy protection. The protocol does not involve interest-bearing mechanisms or gambling elements.
Crypto Impact
To assign a comfort level investing in ZClassic from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ZClassic.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.