What is ZECASH COIN ?
A breakthrough digital solution related to Cryptocurrencies transactions. Using new proprietaries features to make ZeCash Ze next gen of Coin. New protocols to Secure Proof of Stake, new Staking concept, new anonymity features, lightning network processing and more in our WHITEPAPER. For e-commerce, private payments, online business, retails store... ZeCash will speed up transaction with both clients and suppliers on Decentralized secure environment.
Zecash on Proof of Stake
What is Stake Proof?
Proof of Stake (POS) is a type of algorithm in which distributed alignment is achieved by
chain network Cryptocurrency block. The next block creator in POS based Cryptocurrency is selected or selected through various combinations of random selection and wealth or age (Stake). Compared to Cryptocurrency based on Proof of Work (POW) like Bitcoin uses intricate cryptographic puzzles to mark valid transactions and create new blocks.
There must be a way to select the next valid block in any block chain. If the selection is made through the account balance, it will generate undesirable centralization as the single richest member will have a permanent gain. To avoid this, several methods have been designed. Before we discuss about the Proof of stake scheme and protocol in Zecash coins, let's talk about the pioneer, Proof of Work (POW).
The work evidence is used by the first crypto-type currency, Bitcoin. It uses puzzles, not just jigsaw puzzles, but intricate puzzles that align to cryptography to authenticate transactions done and even mine-create new blocks. Crypto currency known to use POW is Bitcoin and Lite coins.
- Proof of Work uses Miners to mine blocks
- Proof of Stake uses Minters to create mint blocks
Advantages of POS
The currency using Proof of Stake can be a thousand times more effective than cost Proof of Work that relies on energy use. Following the operator of Bitcoin mines, energy consumption reached 11,388 KWh per Bitcoin in 2014. This is equivalent to burning 752 gallons of gasoline, in terms of carbon production. Also, the incentives obtained by different block-generators. In the case of Proof of Work, generators may or may not have the currency they are mining. Maximizing their own profits is the only incentive for miners. While in the Proof of Stake, the miners who guide coins are always the ones who have the coins.
Stand with Zecash
This is an incentive process to reward people who lock their Zecash coins into their wallets to validate the transaction. Our users are involved in the purchase of coins and will remain in the wallet for a certain period of time. Similarly, keeping money in fixed deposits for a fixed period of time. Here, the owner of the new block is selected based on a person's bet. The stakes here translate as far as wealth or the number of users of Zecash coins holders own in their possession.
In lurking, mining does not occur, instead the creation of new blocks is printed. Minter create new blocks in the system and ensure authenticated transactions. Here, to authenticate transactions, Minter, is expected to place their currency units on 'stakes', which means open on their Zecash Wallet to maintain the network. In fixed deposit, you will be interested as a gift. As proof of ownership, additional coins will be rewarded. The factors given below will determine how much is rewarded:
- The more time our Zecash holders will Mint / store their coins, then the high is the prize. It will be given as for 3 months you will get 15%, for 6 months you will get 30% and for 12 months it will be full 60%.
Rely on Profits
No need to spend a lot of money to buy large mining land. The initial investment required for that is just a simple computer connected to the internet and a Wallet with Zecash Coin. The balance in the wallet grows; You just have to wait a while. At the same time, the Zecash coin value will increase. There is a guaranteed money involved as the Zecash Coin value will increase due to its success simultaneously with the number of coins you hold on your wallet.
That's how Zecash Minting is possible. The number of coins you can print is exactly the same as the number of coins you have in your wallet. This is very similar to holding a bank account on a personal computer.
Zecash will offer instant payment of the Lightning Network Payment System
Payment chain blocks at lightning speed without worrying about block confirmation time.
Security is enforced by a smart-contract block chain without making a single block of transactions for individual payments. Payment speed is measured in milliseconds to seconds.
Capable of millions to billions of transactions per second across the network. Capacity extinguishes legacy payment rails by many of its big orders. Attaching a payment per action / click is now possible without the guard.
How does it work?
The Lightning Network relies on technology under the blockchain. By using real Bitcoin / chain block transactions and using the original smart-contract script language, it is possible to create a secure participant network that can transact at high volume and high speed.
Two-way Payment Channel
Two participants made a ledger entry in blockchain that needed both participants to sign any expenditure. Both parties create transactions that return the ledger entries to their respective allocations, but do not broadcast them to blockchain.
They can update their individual allocations for the ledger entries by creating a lot of transaction expenses from the current ledger entry output. Only the latest versions are valid, enforced by blockchain-parsable smart contract scripting. This entry may be closed anytime by either party without trust or custodian by broadcasting the latest version to blockchain.
By creating a network of two-party ledger entries, it is possible to find the path on a network similar to the routing packets on the internet.
The nodes along the path are not trusted, because the payment is applied during the script which implements atomicity (either all payments succeed or fail) through a key-time reduction.
Blockchain as an Arbiter
As a result, it is possible to conduct off-block chain transactions without limitation.
Transactions can be made off-chain with a belief in block-chain effectiveness. This is similar to how one makes many legal contracts with others, but one does not go to court every time a contract is made.
By making transactions and decent scripts, smart contracts can be forced chain on-block. Only in the case of non-cooperation is the courts involved - but with a chain of blocks, the results are deterministic.
Credit to the https://lightning.network/ protocol that Zecash will apply for the transaction.
Sales Token ZCH
- ZCH Token Symbols
- Total Token Supply: 500.000.000
- Token Hard CAP: 500,000,000
- Accepted Currency: BTC / ETH / LTC / XMR / DASH / BCH
- Rate ZCH / USD: 1 / 0.10 $
- Rate ZCH / BTC: 1 / ~ 0,00001
- Rate ZCH / ETH: 1 / ~ 0.0002
After looking at Cryptocurrency and the appropriate chain block technology, it can It is said that discussing about their interests can not be more whipped. They are here to stay, because their superiority over traditional systems can not be ignored. Your private key is your bank account that has no censorship and supervision.
The question is, will you decide to be part of those who do not understand this chance or will you take a shield of faith and take attitude with other great financial minds in the world? Be part of the Zecash revolution.
For more information and joining Zecash social media at this time please follow some sources for the following references:
The bitcointalk name: Aray80