ZClassic (ZCL) Opens New Chapter after ANON Fork Wrap-Up

Published on 11 September 2018 by Cryptovest Staff

The ANON hard fork preserved some of the features of Bitcoin without keeping the name itself, unlike other hard forks.

TheANON hard forkwent through as planned on September 10 at 9:00 EST, in effect creating another version of Bitcoin despite the different brand. Following the hard fork, the original asset,ZClassic (ZCL),announced its own path of development, with an upcoming new roadmap and a relaunch event.

https://twitter.com/ANON_WeAreANON/status/1039319812122525697

The ANON team plans to launch the mainnet in the next 72 hours and create the first ANON assets after forking from Bitcoin. ANON is short for Anonymous Bitcoin, which uses Equihash mining and the ZK Snarks technology to obscure transactions.

https://twitter.com/JBTheCryptoKing/status/1039396335647043584

ZClassic aims to continue its development with a new team at the helm of the project.

https://twitter.com/ZclassicCoin/status/1039352612766801927

Unfortunately, the news of a new roadmap could not stem the sell-off wave following the fork, which depressed the price of ZCL immediately. ZCL lost more than 16% in 24 hours, sliding from around $5.05 to $4.12 as of 9:00 UTC. The price did not rise even in the hours leading up to the fork.

The rally predicted by those shilling ZCL failed to materialize:

https://twitter.com/inspiring_ty/status/1038523011991851011

There is an additional anomaly where rapid-fire selling depressed the price to as low as $3.50 on Cryptopia, while the Bittrex value hovered around $4.30. The latest hard fork did not even manage to lift ZCL to double-digit prices, unlike the fork for Bitcoin Private (BTCP), which saw interest in ZCL push the prices to more than $199.