What is ZECASH COIN?
A breakthrough digital solution involving Cryptocurrencies transactions. Use the new exclusive features to make ZeCash the next Ze of Coin. New protocols to Ensure Proof of Stake, New Staking Concept, new anonymity features, flashy network processing and more. For e-commerce, personal payments, online businesses, retail stores ... ZeCash will accelerate transactions with both customers and suppliers in a decentralized security environment.
Zecash on Proof of Stake
Proof of Stack (POS) is a kind of algorithm in which scatter harmony is performed by a cryptocurrency chain. The authors of the next block in a POS-based Vault are selected or selected through different combinations of random choice and wealth or age. Compared to Cryptocurrency based on Proof of Work (POW), Bitcoin uses complex cryptographic puzzles to mark valid transactions and create new blocks.
There must be a way to select the next valid block in any block. If the choice is made through account balancing, it will lead to an undesirable focus because the richest member will have a long-term advantage. To avoid this, some methods have been proposed. Before we discuss the Evidence of Plan and Share Program in Zecash, discuss the Proof of Work (POW).
Evidence of the work used by the first crypto currency, Bitcoin. It uses puzzles, not just jigsaw puzzles but complex puzzles associated with cryptography to verify transactions are made and even create new blocks. The secret currency known to use POW is Bitcoin and Lite coin.
Evidence of use of the Miner for mining
Proof of use Minters to mint blocks
Advantages of POS Proofs of currency can be as effective as thousand times. Compared to Evidence of Work based on energy use. According to a Bitcoin mining operator, the energy consumption is 11,388 KWh per Bitcoin by 2014. This is equivalent to burning 752 gallons of gasoline, in terms of carbon output.
Staking with Zecash
It was an encouraging process to reward those who locked their Zecash coin into their purse to confirm the transaction. Our users are involved in buying a coin and will remain in a purse for a certain period of time. It is like putting money in a fixed deposit in a certain period of time. Here, the owner of a new block is selected based on the stock of the person. The shares here are converted into the wealth of the user or the amount of Zecash that the owner owns.
Staking Selection with CABS and RBS
The weight of Miner can easily be made by weighing the amount of money a user has, but it will cancel the fairness because only the rich are selected. To solve such problems, Zecash will use:
CABS (Choice Based on Coin Age)
Here the miner is chosen to use the Zecash Coin age. The age of the currency can be loosely translated to how long the coins are kept, and the age of the coin is multiplied by the share of the currency. To compete, your coin age must be over thirty days, and the greater the coin age, the more likely it is to be selected. Once selected, the fake person can stay on the throne in just ninety days to prevent those who have aged longer coin from ruling as forgers forever.
RBS (Random Blocks Selection)
The random selection method that determines who is next is Minter by combining the size of their shares and the lowest hash value. Since the stock size is public, it is transparent. The staking scheme is more environmentally-efficient and really friendly compared to its alternative, it consumes a lot of power for extraction.
Secure POS with ZeProtocol
There is no better way to list the most commonly used security breaches on the Proof of Stake network and how Zecash fixes them with our exclusive Zeprotocol.
ZeProtocol Zepashocol solves this problem by using dual protection mechanisms and age protection. Coins were kept up to 30 days starting the next block competition. The greater probability of signing the next block goes to the larger and larger sets of coins.
However, once the coin has been placed and used to sign a block, they have to start with a 'zero coin' and therefore have to wait at least 30 days before signing another block. It should also be noted that the probability of finding the next block reaches a maximum of 90 days to prevent or block very old or very large collections from the chain of custody.
51% attack
This problem occurs when a corner contains more than 51% of any Block chain, usually as a result of defense mechanisms, in which coin used in stock is locked for a short time and after that it can not be sold on exchange or anywhere.
Zeprotocol solution will implement a MOS (Maturity Operation System) proprietary algorithm, in which Zecash must be matured for a period of time. Then, it can be used at the stake again. To understand what it means the best way is to understand the work. To do this, you must compare it with the work of Bitcoins, where the mining machinery was uninterrupted by 51% of the attacks. In this case, the attacker needs to wait longer than they can use the money in the attack.
More information:
Website: https://ze.cash/
White Paper: https://ze.cash/assets/docs/Zecash_Whitepaper.pdf
Token: https://ze.cash/#token-section
Ann Title: https://bitcointalk.org/index.php?topic=3229753
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1667647
Telegram: https://t.me/vancuongdbj