Bitcoin is huge, no one can doubt that. However, alongside the Bitcoin revolution and an overall cryptocurrency movement, hundreds of different new crypto coins have sprouted all over the internet. Some were more successful than others, some even attempted to overtake the lead of this crypto revolution. Plenty of these altcoins have become very well-known like Ethereum, Ripple, and Litecoin, each attempting to fix some aspects of Bitcoin which the devs of these new coins though could use improvements.
There are some other cryptocurrencies which aren’t as famous and aren’t at the top of the charts. Among these coins is Zilbercoin, a relatively new coin which claims to have been created in order to fix “errors and optimize the Bitcoins to modern needs for speed and security.”
ZilBerCoin Crypto Wallet, Exchange & Explorer Specs
Zilbercoin uses the Scrypt algorithm which is the same algorithm used by Litecoin and Dogecoin. Both proof of work (PoW) and proof of stake (PoS) methods are being used by Zilbercoin. At the given moment PoW blocks are no longer available since they have already been mined up of which there were only 10,000 blocks available.
The creators of Zilbercoin offer only roughly about 55 million ZBC in total. According to Cryptocurrency Market Capitalizations (coinmarketcap.com), the total supply of ZBC is slightly higher than 9 million. The market cap of ZBC is currently unknown which is somewhat troublesome. Same goes for the circulating supply. However, if we take the total known supply and multiply it by the current price of a little over 3 cents per ZBC, the total value of this coin should be equal to roughly $348,108.59 USD, a pretty small amount when compared to other Scrypt coins.
ZilBerCoin ZBC Details
We tried to do some research about ZBC but were left in complete awe at how little knowledge, goals, or even plain communication there is being offered to the consumer by the developers of Zilbercoin.
The claim that ZBC was created to fix errors and improve speeds of BTC is pretty grandiose. We took a look at the open source that is offered by the developer of ZBC and compared it to the binaries on their Github and noticed that they don’t match. This essentially means that addresses can’t be validated from the source code. In short, this is really bad and points towards unethical coding. Furthermore, it seems that the first block of ZBC was premined according to bex.zilbercoin.space even though the developers were stating that there wasn’t any premining done.
The Zilbercoin website is also very convoluted and confusing. There is very little information about the coin under the “How it works?” section, which was extremely difficult to understand. Additionally, even though the domain for Zilbercoin is registered in Italy, it seems to be operated by personnel located in Russian Federation, which adds to the mystery of ZBC.
Validating this altcoin is very hard. There isn’t enough evidence pointing to it being a legitimate attempt to rectify some of the challenges that many cryptocurrencies face. In short, this coin seems to have been created as a way to siphon money from unsuspecting investors. Add the clearly visible pre-mining of the coin by the devs and the less than viable source code and you have a recipe for a coin that should be avoided at all costs.
It is ultimately up to you to decide if you want to invest in Zilbercoin, but take into account everything we have dug up. Legitimate information about ZBC was impossible to find through the sources offered by the developers. It is best to keep your distance from this altcoin and invest into something that seems a bit more promising.