What is ZeitCoin (ZEIT)?
Future of ZEIT Cryptocurrency and know how to buy ZEIT

#1 - Zeitcoin: The Basics

Zeitcoin is a decentralized blockchain, a fork from Peercoin, which runs on an open-source platform. An open-source platform means that the service can be used without any payment. Zeitcoin has been developed with a motto to promote the equal growth of users in the financial market.

What is Zeitcoin/ What is ZEIT?

  1. Zeitcoin works in a secure environment and records all the transactions in a couple of minutes. It eliminates the role of the central governing authority that monitors the ledger, thereby, maintaining user privacy.
  2. The project’s vision is to create a community of users who believe in equality and prosperity of everyone involved. It will be used to remove the barriers in commerce and bring back balance in place of inequality.

 

#2 - What are the Benefits of Zeitcoin?

Zeitcoin Development

  1. Zeitcoin was launched on 20 March 2014 as a fork from Peercoin, was listed on the top exchange platforms within a short span of time after its launch.
  2. Zeitcoin has started to create a communityof people who are willing to spread awareness about this unique decentralized blockchain providing equal opportunities to all the users.The main principles on which Zeitcoin works are speed, anonymity, and security.
  3. After being successfully listed on the top exchange platforms, the team started to roll out a promotional planto assist in mass-adoption of the cryptocurrency.

Zeitcoin Technology

  1. Zeitcoin started off using a hybrid of Proof of Stake and Proof of Work mechanism using the Scrypt algorithm. The hybrid system ensured enhanced security for the network. It then switched to a full Proof of Stake system with an annual interest of 25%.
  1. What made the hybrid system more efficient was that it was using the properties of both the protocols to maximize profits at minimum investment.
  2. Using the PoW protocol, the miner’s profit is maximized in terms of rewards. In the PoS protocol, there’s barely any requirement for top of the line hardware or software. Hence, even when using a hardware of low specifications, the profits can be maximized.
  3. This also makes the coin far more energy efficient than those relying on Proof-of-Work mining.
  4. Each block has a time of 30 seconds, and confirmation time for transactions is about 2 minutes.

Features:

  1. Security: The decentralized blockchain is secure, with funds stored using a public key cryptographic system like most other cryptocurrencies. Only user having a private key can send the cryptocurrency.
  2. Anonymity: As with other cryptocurrencies, the accounts and the transactions on the blockchain cannot be easily identified with real-world entities. There are alphanumeric addresses to which the coins are received in a wallet.
  3. Fast: Each transaction is confirmed in about 2 minutes.
  4. Ultra-low inflation: Inflation is generally witnessed when the supply of the cryptocurrency is low and the demand is high. But in the case of Zeitcoin, as it uses the Proof of Stake protocol, there is an unlimited supply of coins. This rarely creates inflation.
  5. Low Operating Cost: A hybrid system of Proof-of-Work with Proof-of-Stake helped itsminers to generate maximum rewards with decent, or low, hardware and software requirements.
  6. Free of ASICs: ASICs are powerful computers used to mine quicker and faster. However, with Zeitcoin’s migration to a Proof of Stake system, there’s no mining, let alone ASIC danger, involved.

 

#3 - How to Buy and Store Zeitcoin?

How to buy Zeitcoin/ How to buy ZEIT

The Zeitcoin cryptocurrency can be purchased with the help of exchange platforms that it is listed in. Zeitcoin is listed in the most commonly used platforms such as Cryptopia and YoBit. It is paired fairly well, with transactions possible using Bitcoin, Litecoin, Ethereum and even Dogecoin.

Apart from these exchange platforms, you can also consider the largest cryptocurrency platform, CoinSwitch for trading Zeitcoin. It is secure, fast and easy to use.

  1. There are over 45,000 pairs available on this exchange platforms. All the popular and the not so popular coins are listed here. You can exchange the coin that you own and purchase ZEIT in return. You can also use 300+ tokens that are offered by CoinSwitch.
  2. CoinSwitch serves as a one-stop solution for the exchange of the cryptocurrency. It offers you the best prices of the coins in the market. Moreover, the environment is secure and the exchange does not take a lot of time.

Zeitcoin Storage

The safest and the easiest way to store the ZEIT coin is to store it in its official wallet. The ZEIT coin wallet is available for download on both Windows & MacOS. It is a software wallet which can be used for payment using Zeitcoin or simply storing the coins.

 

#4 - What is the future of Zeitcoin?

  1. Zeitcoin has a fairly long vision for its future development. The first long-term goal, according to its team, is to get listed on Cryptsy. Later, there should be a mobile application development team appointed to work on its mobile wallet as well.
  2. The company also aims to make Zeitcoin a platform for project funding. This project funding platform will be aimed majorly at charities and small-scale businesses.
  3. The value of Zeitcoin as of August 2018 is $0.000026. However, analysts at Digital Coin have predicted that the price will rise to $0.000102 in 2019.

Also Read: Complete Analysis of ZeitCoin | Live ZeitCoin (ZEIT) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.000059

0.000063

0.000055

0.000058

447

2,045,576

June 01, 2018

0.000079

0.000122

0.000078

0.000081

2,047

2,926,130

May 01, 2018

0.000091

0.0000174

0.000089

0.000092

6,082

3,347,087

Apr 01, 2018

0.000092

0.0000135

0.000070

0.000071

3,887

3,418,253

Dec 01, 2017

0.000048

0.000072

0.000047

0.000051

668

1,790,877

Oct 01, 2017

0.000090

0.000090

0.000045

0.000088

8,746

3,100,163

 

#5 - How is Zeitcoin different from other cryptocurrencies?

  1. The pillars on which Zeitcoin functions are privacy, anonymity, and speed. With transaction times of about 2 minutes, Zeitcoin is among the faster cryptocurrencies out in the market.
  2. Its initial reliance on a hybrid coin creation system ensured that the miners get maximum rewards regardless of the system configuration that they are using. Of course now, there are no miners for the cryptocurrency, by design.
  3. The fixed transaction fee set by Zeitcoin is quite low. This enables all the owners of the coin to use it freely without worrying about the expenditure.

 

#6 - Should you Invest in Zeitcoin coin?

  1. There have been mixed opinions about the Zeitcoin cryptocurrency. While a group of traders is of the opinion that the coin is worth investing in, there is another group which denies investment, which is pretty much the story of nearly every cryptocurrency if you think about it.
  2. The coin has been on the market for 4 years, but has seen no release of a whitepaper. Nor is there a roadmap which could help users know about the future plans for the coin’s development.
  3. These drawbacks create suspicion in the mind of an investor and showcase an overall negative impression.
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