Pow for a newbie, starting with ZIXX now -
https://www.zixx.org/
The new Masternodes Solution Zixx - https://www.zixx.org/
You don’t know me, but if you have gone over any of my recently posted articles telling my struggle as a crypto newbie, you surely know that I have this necessity of wanting to understand everything, same as you or at least that is what I hope.
I've spent the last two days trying to decide on a masternode as well. It seems like all of the solid choices are more expensive. Within this price range it seems there is a fair amount of risk involved because there are a lot of new/unproven or scam masternodes.
I've looked at a few very cheap coins that you can setup a masternode of for around a $1,000 or less, And I've found ZIXX.
I believe in this systems that encourages a strong blockchain, To achieve this huge step a cryptocurrency needs to set a base of well-balanced incentives so that everyone can participate.
So, I did my best to understand what a blockchain is and I wrote my impressions on it but I needed more information to understand how they work and how I was going to get rewarded by mining Webchain. I repeated it several times and I made you believe I understood what it meant to invest Processing Power to mine coins, but I couldn’t explain it to my mom (who is a physician) so she could understand and that meant I did not fully understand that working methodology either.
What is ZIXX(XZX) ?
Zixx is the new and most premium third-generation masternode cryptocurrency this means that everything is new here, is not just a simple Masternode Coin. everyone knows that ZIXX offers secure, instant and private transactions due the masternodes technology, Also we have Benefits that include high rewards (80% for MN), charity projects usign cryptocurrency, low maximum coin supply, low emission rate and a full-time team, zixx could be the next big thing on the cryptocurrency market.
It is a very promising coin worth having. in my opinion, will be a milestone in the new generation.
Even if is new currency, it is already being highly conquered by its followers around the world.
I found out that in terms of blockchains, a Proof-Of-Work (PoW) algorithm is used to confirm transactions and produce new blocks to the chain. With PoW, miners compete against each other to complete transactions on the network and get rewarded.
Guys please share with your ideas, how we could help those guys, there is just couple of them, suggestions are welcome.
Spread the word. Make people know about ZIXX. WE can make a big comunnity together. It´s on our hands to build this into a big coin.
So, considering that mining is a process where your CPU (in case of CPU only mining cryptocurrencies) becomes a sort of special network node (a miner) and takes the responsibility of solving a mathematical puzzle by investing processing power, the rules of this process are set by an algorithm and that algorithm is called Proof-Of-Work. Another interesting concept I came into was “hash”, in mining that is the term that the solution to the puzzle is given. When a miner submits a hash to solve the puzzle, the Proof of Work algorithm allows each other miner in the network to verify the hash (this is called peer to peer protocol) and if the solution is correct allows the generation of a new block, then the old transactions are placed in this block and the process starts over, this is what keeps the blockchain growing and growing and it is also the reason why blockchains need no centralize authorities.
Wrapping up, how complex a puzzle is depends on the number of users as it controls the current power and the network load. The solution needs to be according to this parameters as well, if it is too easy to be found you get spammers and attackers which will kill any possible market capitalization for the coin, and if it is too hard not all nodes will be capable of analyzing if the calculations are correct in time.
Just as a reminder for us I will list the functions of the Proof of Work algorithm:
-Regulate how complex the mathematical puzzle to be solved will be
-Let senders (miners) submit a hash (the solution) to solve the puzzle
-Thanks to the Peer-to-Peer protocol, the algorithm allows each miner in the network to verify the each other’s hash
-If the solution is correct, a new block is generated
-It places the transactions on the new block and starts the process over.
This is how the PoW works on ZIXX COIN, but we now that only 10% go to miners, and the 80% go to MASTERNODES.
MASTERNODE
Masternodes
Masternodes enable the following services:
Instant Send -instant transactions (real time).
Private Send - Anonymous transactions :).
Personally, as a cryptocurrency enthusiast and adopter, I love investing in secure platforms and networks.
Check it out all the features about the project on : https://www.zixx.org/
Auntentication
Bitcointalk user : phabulu
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1681931