How to Use Zoin's Zerocoin Protocol
The Zerocoin protocol is a key feature of the Zoin blockchain which allows for the complete anonymity of all your Zoin coins; nevertheless, learning how to use it properly will increase the privacy and safety of all of your prior and future transactions.
Without the Zerocoin protocol, all Zoin coins would be completely public and traceable since their creation. Zerocoin allows you to completely erase the history of your Zoin by using the Mint and Spend commands.
The Mint command basically cleans your Zoin by converting a certain number of Zoin into Zerocoin. All of the new Mints will be together on the blockchain and it would be impossible to determine who processed them. After performing a Mint you must wait for 6 confirmations until the Zerocoin are available to spend.
The Spend command converts back your specific number of Zerocoin into clean, new Zoin which lack any prior transaction history and can be used safely. After doing a Spend you must wait for 6 confirmations until the Zoin is available in a new address.
For Minting Zerocoin, you must go to the Zerocoin tab in the wallet and choose the Mint Zerocoin button.
You will then choose to mint a specific number of Zerocoin: 1, 10, 25, 50 or 100.
Once you choose the number of Zerocoin to Mint, it will take a couple of confirmations on the blockchain to process. Be aware that your wallet must be completely synchronized with the blockchain in order to proceed with the Mint and Spend commands.
Once the Mint command is fully confirmed on the blockchain, you can use the Spend command which will place your Zerocoin as safe-to-use Zoin in a new address with no prior history.
Don’t Mint and Spend right away. If you mint 50 coins and you spend 50 coins right after the Mint command is confirmed, this transaction can be assumed as yours. It’s convenient to Mint and let your confirmations merge with thousands of other Mint transactions on the blockchain before spending them.