What is ZilBerCoin (ZBC) – Crypto Beginner’s Guide
With the popularity of cryptocurrency growing, various options of cryptos have flooded the market. Bitcoin has remained the most popular, but multiple cryptocurrencies are doing what they can to make a name for themselves, whether it is through what they offer as a currency or as a unique platform that the currency might be associated with. Zilbercoin is a new cryptocurrency that offers lofty promises and yet is very mysterious.
Features of ZilberCoin (ZBC)
Some of the more popular cryptocurrencies, especially Bitcoin, have been criticized for outdated features that affect its performance. Bitcoin’s massive popularity has caused scaling issues, for one, which have put a stranglehold on transactions and causes them to be slow while fees begin to rise. Many are also critical of the some of the security flaws that come with outdated technology.
Zilbercoin is a cryptocurrency that claims it will solve the problems associated with speed and security that has troubled Bitcoin for a while now.
Similar to Litecoin and Dogecoin, Zilbercoin uses the Scrypt algorithm. It is both a Proof-of-Work and Proof-of-Stake coin, however the PoW aspect of this coin ended at the 10,000 block, which means that all minable coins for this currency have been mined.
While the ZBC supply seems to be at 9 million, the creators intend to distribute 55 million. Unfortunately, due to lack of information about ZBC, there isn’t any indication of market cap or amount of coins in circulation. This makes it hard to estimate the value of the coin, which severely affects its perception and validity to investors.
That said, there is a lot more about this coin that casts it in a questionable light.
Lack of Information on Zilbercoin (ZBC)
Unfortunately, details about Zilbercoin are severely lacking. The website does not provide any information at all about the coin, instead just offering a link to the currency’s Telegram channel. There doesn’t seem to be a white paper in circulation, which means a lot of the details about the currency, the team behind it, and what its intensions are remain a mystery for the time being.
The review site Bitcoin Exchange Guide did some digging into ZBC and found some troublesome signs. ZBC’s open source code, for example, does not have addresses that can be validated due to code discrepancies. There are also indications of pre-mining, even though the ZBC creators claimed no pre-mining was done. These kinds of inconsistencies point to possible unethical behaviors that could put investors at risk.
Considering the number of cryptocurrencies in circulation, it is only expected that some individuals may attempt to take advantage of the market by duping investors. While Zilbercoin may not be a scam, its claim of fixing major problems with Bitcoin while offering no additional information and suffering from suspicious coding inconsistencies does not do anything for its credibility. When investing in any cryptocurrency, especially a new one, it is important to be as diligent and aware of the legitimacy of the investment as possible in order to avoid scams.