In this newsletter, Zebi shares bits and pieces about its endeavours for the community interest and important events for Zebi.
Its been almost a week since our CEO Babu has returned to Hyderabad office after his scheduled visit to United States of America for a long duration of 6 weeks. He had an extremely busy schedule across the American Continents taking Zebi to various mediums across the globe and the visit was packed with back to back meetings and meetups. It’s been an extreme hard work for Babu and the offshore team at India, but at the same time, very exciting for Zebi. A lot of opportunities are knocking our doors and Zebi is fired up to cater to all of them and expand rapidly.
Opportunities Knocking all over:During the last few weeks, many opportunities for multiple partnerships with private enterprises and government institutions have opened up. Zebi has responded very positively to these complex situations. Zebi continues to make excellent progress on the Zebi Public Blockchain Platform and would want to detail out some key fundamental principles and features of the Zebi Platform in this article. Meanwhile, Babu addressed a large gathering at one of the world’s most renowned management institute ‘Indian School of Business — ISB’ and took the audience through the intricate details of blockchain implementation.
https://i.redd.it/wy57os3q9iv11.jpgZebi Public Blockchain Node Structure:A lot of thought deliberation has happened over the node structure for Zebi Public Blockchain. The key biggest consideration once Zebi Public Blockchain is commissioned will be scalability. If every node in the Zebi Public Blockchain processes all the transactions and stores the entire state of every account balance, smart contract codes, block information etc., then it is equivalent to the entire blockchain not able to process more transactions than a single node. To overcome the bottlenecks in processing transactions, a mechanism needs to be created where only a small subset of nodes will verify a subset of transactions. However, the number of nodes verifying the transactions will be sufficient and hence the conceptualized system will be secure, immutable, tamper-proof and decentralised.
It is proposed that the Zebi Public blockchain will have a two — tier node structure:
Tier 1: Trusted Node:a. These will be nodes which will be authentic organizations of repute or public institutions funded by Central/ State Governments of the respective countries.
b. These nodes will store the hash values of the records which are being put for record on the Zebi Public Blockchain.
c. Each of the trusted node will have only their data.
Tier 2: Zebi Staking Node:a. These will be nodes which will be created by users by staking their ZCOs and is open to all ZCO holders. The minimum staking requirements have been proposed to be not more than 100K ZCOs as iterated in the previous announcements.
b. They will be computational nodes who will also be storing the records of the ledgers for Zebi coins across the Zebi Public Blockchain.
c. They will also store the hash value of the data stored on the trusted node.
The nodes will connect to the Zebi Public Blockchain through a proprietary light weight application installed at different nodes.
Incentivization for all Stakeholders:A lot of brainstorming has happened on the rewards and incentivization front for different nodes on the Zebi Public Blockchain. The rewards system is being designed so that it incentivizes everyone which would also ensure self-sustenance of the public blockchain. Maturing with respect to staking nodes set up and the total uptime are the key aspects while deciding the proportion to divide the node awards. The nodes staked for a longer time will get more rewards than the younger nodes. With focus on these aspects, every stakeholder in the Zebi Public Blockchain would be able to earn the same proportional rewards, which would keep the threshold low enough for new entrants for participation while incentivizing the existing committed nodes.
Incentivizing the Community: The other remarkable viewpoint is that, since, the Zebi Public Blockchain would be an open source blockchain platform, even the community contributors would be incentivized and inspired to contribute towards the platform development.
Zebi Data Access Fees:The major source of rewards would be the data access fees on the Zebi Public Blockchain Platform. The data access fee would be proportionally divided amongst the different stakeholders incentivizing all the participants. It could be divided amongst the following ecosystem participants as mentioned herewith. Although, the final distribution of fee rewards is subject to change depending upon the market conditions, technology considerations & token economics.
· Staking Nodes: Major Proportion of the Fee (15 % — 50 %)
· Trusted Nodes: Considerable Proportion of the Fee (10 % — 60 %)
· System Enablers: Sizeable Proportion of the Fee (15 % — 50 %)
· Community: Approximately 5 % — 30 %
There would be a specific time of operations for sustenance of Staking Nodes (for example 30/ 60 days) to be eligible for the rewards. This is to ensure system stability and non-transient behaviour of the Staking nodes on the Zebi Public Blockchain.
Move to new Office & Expansion Plans:Zebi will be shifting in the first week of November 2018 to its new office at Hyderabad to accommodate the explosive growth that lies ahead of it. We are also looking to expand in the major cities of India including Mumbai, Delhi, Bangalore and Pune and have sales professionals stationed at these major cities to cater to the ever-increasing demand for customer requirements in Blockchain implementations.
