Announced on May the 15th, Anonymous Bitcoin ($ANON) Will be forking Bitcoin ($BTC) and ZClassic ($ZCL) in their attempt to add complete anonymity to the robust protocol of Bitcoin, but that’s not even half the story. $ANON’s consensus will be a hybrid Proof of Work plus Proof of Stake which means the coin will be mineable and at the same time you can stake it via a masternode. This is the part that got me very interested.
It’s not the first project to fork these two coins and probably not the last but the approach the $ANON team is taking should be an example for all current or future projects in the cryptosphere. Their motto is “Transparency = Legitimacy” and so far they’ve been very transparent about the things they work on and more importantly they are currently pacing ahead of schedule having reached multiple milestones on their way to the fork date.
Why ZClassic?
Because of zk-SNARKs. The acronym stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof of construction where an individual can prove possession of information, without having to reveal that piece of information. zk-SNARK was MIT tested and it is considered the most secure privacy protocol to date.
Considered an abandoned project for a while, ZClassic has been revived by two reputable development teams (ZClassic Community Edition and ZClassic Blue) that have begun working on it and collaborating with the community.
The biggest problem.
99% of the projects I see in the cryptocurrency world promise to solve a variety of problems that traditional currencies have like centralization, enormous fees, slow transaction speeds and, of course, the possibility to print more.
But in my opinion, the biggest problem that 99% of the coins have is the lack of an actual use case. Here is why I think ANON will be different. In addition to complete anonymity compared to Bitcoin where all the transactions are traceable and wallet balances public, Anonymous Bitcoin will be a faster and a more decentralized network because of its hybrid consensus and even if we are a couple of months away from the fork date they’ve already announced a first partnership with uRunit.io which is currently holding their ICO and accepting ZClassic as investment.
uRunit is going to be a gambling platform that is 100% managed by its community and that’s something interesting and unique. You can read more about uRunit if you are interested, here. Having strong fundamentals and use cases is very promising news for the future of the ANON project.
Coin fundamentals.
Anonymous Bitcoin ($ANON) will be forking two very established coins: Bitcoin ($BTC) and ZClassic ($ZCL) and will combine their best features into a single coin. In addition to the dual consensus, ANON will be making use zK-SNARKs as a privacy protocol and SegWit plus Lightning Network for faster transaction confirmation speed.
At the time of the mainnet launch, soon after the fork, around 24 million coins will be released into circulation out of the 31.5 million total supply. The remaining coins will serve as block rewards for miners and masternode owners. Miners will get 65% while masternodes 35%.
The mining algorithm will be ASIC resistant allowing users to strictly GPU mine, this leads to further decentralization and better protection against 51% attacks. The cost of setting up a masternode will be 100 ANON coins. It is worth noting that there will be no pre-mine and any unclaimed coins will be burnt in January.
The team announced that ANON but also ZCL will eventually be listed on at least one top 5 cryptocurrency exchanges.
The ANON Team.
The Anonymous Bitcoin Team is broken into multiple layers and is composed of the core development team, founders, advisors, social media gurus, blockchain journalists, and even crypto compliance attorneys.
Founder of the project is Jake Greenbaum J.D. a.k.a. “The Crypto-King”. He considers himself a blockchain enthusiast with a passion for technology, finance, law, and altcoins.
The main development team is located at Bushido Lab in Miami, FL. Lead developer: Sam Abbassi.
Key advisors: Steven Neyaroff (worked on projects such as Ethereum, Lisk, tZERO, ZClassic, AION and others) and Ran NeuNer (CNBC’s Cryptotrader host, he is #8 on the list of most influential crypto personalities).
They have proved their hard workmanship by reaching all of the milestones in time so far. I will enumerate some of them here: project announced on CNBC (major media coverage), presence at Consensus 2018, whitepaper published, major advisor came onboard (Ran NeuNer), bounty campaign launched. As for future milestones, they have planned to attend crypto conferences in Seoul, Tokyo and Paris.
More info on the team and their profiles can be found here.
How can I get ANON?
ANON coins will be provided at a 1:1 ration for every ZCL or BTC held at the date of the fork. The date is 10th of September but due to the fact that the team is pacing ahead of schedule it might be moved earlier. You should follow their very active twitter account @ANON_WeAreANON and stay up to date with the progress.
From an investor’s perspective, I think this is a good time to enter, at the time of writing this (1st of July) 1 ZCL is worth $7.51 per coin. So if you’re thinking of a medium/long term investment, as I certainly do, this is a good time. But, of course, this is just my own personal opinion and not financial advice and I recommend you do your own research before taking any decision.
Another way you could get ANONs is by participating in the bounty campaign. 5500 ZCLs will be given to the community prior to the fork. More information about the bounty campaign and how to participate, can be found here.
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