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Zclassic Simple Ledger Protocol (ZSLP)

A next-generation simple token system for Zclassic
based on Simple Ledger Protocol

What is ZSLP?

ZSLP is an emerging next-generation protocol for issuing and management of tokens on Zclassic blockchain. Storing and managing tokens on the blockchain provides greater auditability than traditional asset management and trading. Tokens can be used anywhere from rewarding your followers, to the creation of stocks, securities, registries, smart properties, utility tokens, contracts, coupons, bonds, demand deposits, local currencies, representation of physical assets, representation of individuals and much more. Anyone can create ZSLP Tokens can be easily created, traded and managed on Zclassic blockchain within few seconds.

Benefits

ZSLP has everything you need to easily issue, spend or trade your own token.

SPV Friendly

The first and currently only ZCL token system to support light wallets.

On Chain

All transactions are 100% on the blockchain for full auditability by any party.

Simple

Many systems are complicated. ZSLP is easy to understand, giving users confidence.

Robust

A limited set of consensus rules makes the system reliable. A unique address format helps prevent loss of tokens.

No Native Token

Some token protocols have their own coin which you must first acquire in order to use other tokens. ZSLP runs directly on top of ZCL.

Scriptable

You can use multi signature addresses and other Bitcoin script features with ZSLP tokens.

Flexible Issuance

Choose from a fixed supply, 1-time issuance token, or multiple issuance tokens with a variety of options.

Permissionless

ZSLP tokens can be exchanged peer to peer with no trusted third party.

Extensible

The protocol can be extended to support different types of tokens including those with issuer controlled whitelists for regulated securities.

Free & Open Source

The protocol and Electrum implementation of ZSLP are both free and open source.

Learn more & get involved

Information, resources,
and support for ZSLP.

Electrum - ZSLP edition

Download the beta Electrum - ZSLP edition.

Download

ZSLP Explorer

Explore all ZSLP token transactions with ZSLP Explorer.

Explore

Protocol Spec

Read the ZSLP specification on Github.

Read

Support

Follow our discussion forum on Telegram.

Join Group

FAQ's

You have questions?
We have answers.

What makes ZSLP different from other emerging token protocols?

ZSLP is created for developing a rich ecosystem of users. ZSLP is user-friendly, issuing and transfer of tokens take a fraction of seconds and can be used for day-to-day purposes.

How are ZSLP tokens different from ERC-20 tokens?

ERC-20 tokens and SLP tokens have many similarities. For instance, to send an ERC-20 token, your wallet must contain ETH to pay the transaction fee. Similarly, to send a ZSLP token, your wallet must have ZCL to pay for the transaction fees.

It is these transaction fees where the tokens are most obviously different. The transaction fees for sending a ZSLP token are consistently fractions of a penny, whereas we’ve seen transaction fees for sending ERC-20 tokens to vary wildly from a couple of cents to over a dollar. This makes ZSLP tokens more favorable for microtransactions over ERC_20 tokens

How does ZSLP work technically?

You can think of ZSLP as a ‘transaction within a transaction’. ZSLP transactions live within a special output known as OP_RETURN, which is a part of a standard Zclassic transaction. You can read more about the functioning of ZSLP transactions in the blog

How can I start using ZSLP today?

Download the Electrum ZSLP wallet. You can ask your friends to send you some tokens, or mint your own.

Can anyone create their own token?

Yes. But we recommend consulting a legal professional before attempting crowdsales or similar activities.

Why should I choose ZSLP for my project?

You should carefully review all of the available protocols on Zclassic for tokens. Some may be more suited to your purpose than others. We have listed many of the benefits of ZSLP above.

What are the issuance options for token creators?

Token creators can generate a token with a 1-time issuance, thus guaranteeing a fixed supply, or alternatively, a token that has multiple issuance rounds. These rounds can continue indefinitely until the issuer decides to switch it off permanently, marking the end-of-minting capabilities for that token.

Token issuance authority can also be delegated to someone else after the token has already been created.

How do token names and hash IDs work?

The initial genesis minting of a token is also a Zclassic transaction. The ZCL transaction Id is then one and the same with the hash Id of the token.

Token issuers can also specify a name for their token within the data. However, there are no reserved names. Names can be duplicated, sometimes maliciously. (This is also true of ERC-20). Therefore, users should always check the hash Id against a trusted source.

How does ZSLP handle decimal precision?

The Bitcoin protocol deals directly with smallest granular units, which are called satoshis, but amounts in wallets are often expressed in decimal format (i.e. 3.0723432 ZCL). A similar system is used in ZSLP; the protocol itself deals with integer units, but some tokens are better displayed with decimals. The genesis mint of a transaction can set a decimal preference if desired.

How can I avoid accidentally losing or burning tokens?

The most important thing you need to know is that you should not use a non-ZSLP wallet on a wallet file that has tokens on it. If you do this, the non-ZSLP wallet may end up spending the coin (the UTXO) that contains the tokens.

For example, once you have tokens on a wallet file, only open that file with the Electrum ZSLP wallet, not the normal Electrum wallet. This applies not just to wallet files per se, but also wallets that you restore from seed, as they will contain a particular set of addresses and coins.

Does ZSLP have its own address format?

Yes. "ZSLP Addr" is a new encoding for addresses, similar to CashAddr. Theoretically, tokens could be sent and received from any address format, but we strongly encourage wallet implementations to use ZSLP Addr format. This helps prevent user mistakes when transacting in either Zclassic or tokens.

Is ZSLP robust and well tested?

The ZSLP protocol is based on Simple ledger protocol on bitcoin cash blockchain. There are thousands of SLP tokens created. Still, the project is new and there could be bugs discovered later. We would recommend you to test your project before launching and report any bugs during the process.

What are the risks of using ZSLP?

ZSLP is a new protocol and there could be bugs discovered at any point. It is also possible to lose tokens if used improperly or if there are bugs in a wallet implementation.