Zcoin Wallet Installation Guide
Download the Zcoin wallet for your OS by heading to the download page and download the version for your OS. Once the download is complete, follow the installation guide below.
Create a new folder and name it ‘zcoin’. Extract the contents of the zip file that you have downloaded to this folder. Double-click on zcoin-qt.exe to start the wallet.
Please note that the first synchronisation of the wallet will take about a day. Subsequent startups of the wallet will be within a few seconds.
You can also download the latest blockchain data (bootstrapping) at znode.io which speeds it up a little.
See Github Wiki.
Zerocoin Minting and Spending
The Zerocoin layer is where you will anonymise your coins and it works through the Mint and Spend transactions. You can think of the Zerocoin layer as a form of coin laundry where you will put in your existing ‘dirty’ coins (that have a long transaction history) and then redeem new ‘clean’ coins that appear to be brand new and have no prior transaction history. Unlike other coin mixing solutions, Zerocoin does not rely on trust of other people you’re mixing with and is built directly into Zcoin’s protocol.
Zcoin: This is the base coin that you use to do transactions including receiving or sending. This coin works just like any other cryptocurrency.
Zerocoin: A Zerocoin is a token you receive after destroying Zcoins. It’s a token that you have destroyed a certain number of Zcoins. Zerocoins cannot be directly transferred to other people. For Zerocoins to be transacted they need to be ‘spent’ to turn them back into Zcoins before they can be used for transactions.
Minting a Zerocoin means destroying a fixed number of Zcoin and turning them into ‘Zerocoins’ which are tokens to redeem completely new ‘clean’ Zcoins.
Start the wallet. Click on the Zerocoin tab on the top section.
In the dropdown menu at the bottom, choose a denomination (1, 10, 25, 50, 100) in which to mint the Zerocoin. A mint fee of 0.01 Zcoin will be charged regardless of how many coins you mint.
After an amount is chosen, click on the Mint Zerocoin button. It takes about 7 confirmations (about 70 minutes) before you can spend the Zerocoin you have just created. The newly minted Zerocoin will appear as ‘New’ in the list.
Click on the Spend Zerocoin button. This will take awhile, and your Zerocoin will appear as ‘used’ after it is completed. Your Zerocoin is now redeemed into Zcoin and will be sent to a new Zcoin address with no previous transaction history.