INTRODUCING ZEDCASH: THE DIGITAL CURRENCY FOR THE WORLD!!!

Mei 06, 2018

As time passes by the day, new ideas and innovations come up and he world has gone digital , evolving from the world of hard copies to the realm of soft copies the internet has provided. A lot of things done physically are now being done with ease on the internet.

Cryptocurrency, which is also known as online money or digital money is one of the new innovations that the world has to offer. Cryptocurrency is basically online money, a form of exchange, accepted by a lot of people and recognized worldwide. It is fashioned out to provide anonymity, security and be hack proof all in one. Through the use of cryptography system, it makes the currency secure and hack proof. It not only secures the transaction carried out, it ensures that illegal creation of additional bits of the currency is impossible, and tops it all off, with verification of the assets transferred.

THE BLOCKCHAIN

This cryptocurrency will function through a feature called “blockchain”. This Blockchain is a collage of blocks which are records growing incessantly and these blocks are joined, with the cryptography system, thereby securing it from outside attacks. Is like a ledger on the internet. It has imprinted transactions on itself using the Cryptocurrency. The use of blockchain is not only applicable in cryptocurrrency, but has been proven to be invaluable in crowd funding, and even voting online.

ZEDCASH AND THE PROOF OF STAKE (POS)

The Proof of Stake (POS) is a type of algorithm in which distributed harmony is achieved by a Cryptocurrency Blockchain network. The creator of the next block in a POS based Cryptocurrency is selected or chosen through various combinations of random selection and wealth or age (the Stake). Compared to Cryptocurrency based on Proof of Work (POW) such as Bitcoin which makes use of complicated cryptographic puzzles in order to mark transactions valid and create new blocks.

ZEDCASH SIGNATURE

The ZeCash currency will use a type of digital signature which is used with the cryptography and it is performed by members of the group of users that have the keys. Therefore, when a message is signed with the ring signature, then it can be endorsed easily by someone from the group of the people. One of the main security features is that it was totally infeasible to determine which of the group member has used this key to produce this secure signature. The Ring signature is very similar to the group signature but they are different in two significant ways. First, there is no way you will be able to revoke the individual signature. Secondly any group of users can use this without doing the additional setup.

The ZeCash platform will also offer a Lightning Network System through instant payments and scalability. The Lightning Network is dependent upon the under lying technology of the Blockchain. By using real Bitcoin/Blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants which is able to transact at high volume and high speed.

After looking at Cryptocurrency and its corresponding Blockchain technology, well I can say that discussing their importance cannot be overstated. They are here to stay, and their advantages over the traditional system cannot be overlooked. Your private key is your bank account which doesn’t have any censorship or surveillance. The question is, will you decide to be on the part of those who are clueless about this opportunity or will you take the shield of faith and take a stand with other big financial minds in the world? Be part of ZeCash revolution.