Anonymous Bitcoin, Anon, and What the Upcoming September Hardfork Means

Brian Adams Kuria··3 min read
Anon is offering transparency at the time of the fork while also bringing privacy to the coin

Anonymous Bitcoin (renamed: Anon) is a new privacy centric cryptocurrency that aims to deliver a cryptographic medium of exchange that enables seamless, highly private, secure and anonymous transactions.

The ANON journey started early this year after the Bitcoin Private hardfork which failed to deliver its promise to the people. One of its failures was not getting listed on a couple of exchanges and a lack of transparent.

The community was not happy.

Jake Greenbaum  “crypto-king” being one of the dissatisfied cryptocurrency community members set himself out on a journey to create a true privacy coin making sure that every milestone covered would be communicated to the community members via their social media platforms.

ANON is introducing some very nice features to the Bitcoin and ZCL Blockchain.

Here are some of the features:

  1. ZK-Snarks
    Zero knowledge proof protocol integrates true anonymity and achieves integrity and privacy of the transactions by using the Anon. Unlike Bitcoin which is pseudonymous, Anon’s transactions will be completely anonymous.

Learn more on the zero knowledge proof protocol. the link below.

2. Masternodes
Masternodes is the new mining, way more cooler and cost friendly than mining. Masternodes and staking rewards is another very interesting topic especially for those who do not want to get involved with mining since it is more efficient and saves on a lot of costs such as hardware, electricity and maintenance costs. With Bitcoin Anonymous you get rewarded for staking your coins and running the node. The distribution of rewards between miners and Masternodes will happen in the ratio on 65%:35% respectively.

Masternodes is the new mining, way more cooler and cost friendly than mining.

 

The ANON Hardfork

Anon is offering transparency at the time of the fork while also bringing privacy to the coin

To participate in the fork and get some Anon, you will be required to hold BTC or ZCL in your wallets. Distribution and allocation of the Anon tokens will be in reference to the number of coins you held at the time of the snapshot.

ANON will be allocated in the radio of 1:1 for Bitcoin holders and 2:1 for ZCL holders. So if you were holding 1 BTC you will get 1 ANON, and if you held 240 ZCL you will get 480 ANON, and so forth.

The Zclassic and Bitcoin hardfork will take place on September 10th precisely at 8:00 PM EST. Once the snapshot has been successfully recorded, Bitcoin Anonymous will announce via their social media channels.

After the hardfork, you will be able to purchase Anons from the exchanges that they will be listed on (currently they have officially applied on Binance Exchange). You can also decide to run their Masternodes which require 500 Anons as collateral, or set up a mining rig to mine Anons.

 

See also

What happens to the unclaimed Anon?

Once distribution and allocation is done, it might be obvious that there will be some Anon balance. As of January 1st 2019 every Anon that will not have been claimed will be burnt. This means that the unclaimed Anon will be sent to a public address that does not have a private key, meaning nobody can access the Anons in this wallet address.

Coin burns do have a huge impact and are among the type of fundamentals that I like to categorize as huge magnitude fundamentals. In reference to the rule of demand of supply, whenever there is high demand, price increases and whenever there is high supply, price reduces. Reduce supply and increase demand.

Coin burning reduces the supply of Anon. The total circulating supply of Anon is set to be at 26.4 million with only 40 million max supply being made available at the time of the fork.

Anon on Social

The Anon team has been transparent from the project onset and are determined to maintain transparency to the date of the fork and thereafter.

It is however advisable to do your own due diligence regarding the hardfork. Check out their social media profiles and white paper below to learn more about the project and make a more informed decision regarding the upcoming Bitcoin Anonymous hardfork:

 

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