Ethereum is the foundation distributed computing network where Gigzi runs. The four crypto-assets on the Gigzi ecosystem are; Gigzi Black (GZB), Gigzi Platinum (GZP), Gigzi Gold (GZG) and Gigzi Silver (GZS) and all of them are Ethereum ERC20 standard tokens.
Smart Contract
The Gigzi Smart Contract is an open source; it is audited by the Ethereum community, and you can get it on the Gigzi GitHub repository. Gigzi crypto-assets on the Ethereum platform is regulated using a custom logic Solidity Smart Contract. It is implemented by using Open Zeppelin security framework.
Allocation Gigz Black
A sum of supply of one billion Gigzi Black (GZB) crypto-assets will be pre-mined; 8% will be sold via an automated Smart Contract crowd safe. The crowdsale will go on until all GZB crypto-assets are exhausted. The bonus model that will be used for the purchase of GZB during the crowdsale is as follows:
• 15% will be used for investments up to, and including 530 ETH.
• 30% on investments above 530 ETH.
• 45% will be used for investments of 1600 ETH or above.
The development team will receive an allocation of 1.5% Gigzi Black (GZB), and 0.5% be held by the system as reserves. The smart contract will lock 90% of the one billion Gigzi Black (GZB; 900 million). The 0.2% transaction fee on payments in Gigzi Black (GZB) only will be used to pay users from the locked Gigzi Black crypto-assets which account 900 million until the supply is exhausted. The fee is paid using Gigzi Black (GZB) to Gigzi S.A.
Gugiz Metal
Gigzi Treasury treasury regulates Gigzi Metal (GZP, GZG and GZS) crypto. Controlling the issuance and destruction of these crypto-assets helps the Treasury to balance the stocks of precious metals stored at the Mint, with the number of Gigzi Metal crypto-assets in circulation ensuring equilibrium is maintained. 60% of the transaction fees that you pay for sending Gigzi crypto-assets are issued as Gold Rewards to Gigzi Black holders. The remaining 40% share of transaction fees is allocated to Gigzi S.A.
Gigzi crypto asset transactions have two types of fees:
• Ethereum platform (gas) – this is for the processing of transactions on the blockchain.
• Gigzi – this is for the rewards fund and operating costs
Biometric Security
Biometric security is offered as an optional feature on the wallet application. Hardware known as iris scanning device, Gigzi Iris, is issued to enable this functionality. Once received, you will enroll by following the simple on-screen instructions in the wallet application. The live iris image is converted into a code-based template using an identical algorithm developed by IriTech. The code-based template is then used in generating an encryption key which secures the newly generated Blockchain Private Keys. Your user code-based template is then divided into multiple parts and stored on distributed Gigzi servers. The Gigzi Iris device and Gigzi servers exchange data using an encrypted channel.
Gigzi ecosystem is built in such a way that it ensures maximum impenetrable security that will guarantee the safety of your investments. This is among the measures that have been taking by Gigzi developers to make sure that all the investments are secured and can be accessed only by its owner.
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