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Author Topic: [ANN] Zcoin (XZC) - Implementing Zerocoin technology for financial privacy  (Read 525739 times)
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November 14, 2017, 10:04:53 AM
 #5621

Does the establishment of znodes affect GPU mining?Or the znodes are independent.

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November 14, 2017, 11:29:30 AM
 #5622

http://zcoin.io/znodes-specifications-release-founders-rewards-reduction/

We are happy to make two very important announcements, the release of the details of Znodes and a reduction in Founders’ rewards!

Znode Requirements

Znodes allow for incentivized nodes to host a complete version of the blockchain and help to ensure nodes are sufficiently powerful to process and verify computationally intensive Zerocoin transactions. Unlike other coins’ masternodes that process privacy transactions, Znodes are trustless, meaning you don’t have to trust them to keep your anonymity or to hide how your funds were anonymized. This is because the Zerocoin protocol relies on zero knowledge proofs and cryptography to ensure that results can always be independently verified.
We have finalized the specifications required for a Znode so our community and existing/potential investors can prepare themselves:

1000 XZC
A computer or VPS with a fixed IP address
1 GB of RAM
Enough disk space to store the blockchain (25gb is recommended for the moment)

Typically a VPS of this specification costs around USD5 to run a month per node and you can head on to Vultr, Linode, or DigitalOcean to obtain a basic VPS when Znodes are launched.

We are currently testing Znodes on our testnet and are set to launch at the end of November-first week of December 2017. We are working with exchanges and pools to ensure a smooth transition for the hard fork required. We will also give instructions for people to run their own testnet Znodes in the next few days.

Founders’ Rewards Reduction: Giving Back to the Community

Currently, 20% of each block (10 xzc) for the first four years of Zcoin (after which there will be no more rewards) will be given to our seed investors, founder and a bounty wallet to fund the team. This worked out to be a total of 10% of total supply.

This is broken down as follows:
Poramin Insom (Founder and Lead Dev): 2 XZC
Seed Investors: 6 XZC
Team and Bounty Wallet: 2 XZC
Total: 10 XZC

With the launch of Znodes, Poramin Insom, Roger Ver, Tim Lee and the other seed investor have agreed to reduce their rewards by half towards Znode’s share of the block reward and also an increase to the Team and Bounty wallet!

This will allow the team to remain sufficiently funded so that we can invest in hiring more developers and deploy additional marketing. The new Founders’ Rewards after the Znode hard fork will be as follows:

Poramin Insom: 1 XZC
Seed Investors: 3 XZC
Team and Bounty Wallet: 3 XZC
Total: 7 XZC
This means that now the Founders’ Reward has been reduced from 20% of each block to 14% of each block with Poramin and the other seed investors all taking a 50% cut. As before, all Founders’ Rewards will cease after 4 years (of which 1 year has already elapsed).

Economics

Nodes will be allocated 15 XZC per block or 30% of the block reward. The charts below illustrates how the block reward is divided before and after the hard fork, with some estimated return calculations based on 50% or 60% of supply being held in Znodes. The returns are of course dependent on actual take up rate of the Znodes.



That is very interesting to know this Znode released soon . I have just read this Znode plan but I have still not yet understood the znode reward . I think that If i have 1000 zcoins for staking how many zcoins may I get ? is it a reward of 15 zcoins for every block then divide this reward to all znodes staking? let me know if I'm wrong.


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November 14, 2017, 11:45:30 AM
 #5623

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.

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November 14, 2017, 12:17:13 PM
 #5624

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.

I agree. Founders and Investors are really getting a shitload of XZC every block.
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November 14, 2017, 12:49:08 PM
 #5625

Founders and Investors are really getting a shitload of XZC every block.
I don't mind a moderate founders' tax, if it helps ongoing development and marketing etc.

IMHO, a masternode reward is useful as it provides an incentive to keep up a full node; we need more than just miners to maintain the network. Reward schemes for nodes have been proposed in other coins starting from Bitcoin, and the Bitnodes project already has some kind of a program for that.

Node rewards should be based on uptime and connectivity, as those are what really matters. Investors should spend their money on actual technology for nodes and miners, not arbitrary stakes of money. That way we should get more stable nodes -- the 1000 XZC limit only favours the few, and there's no comparable incentive for others to maintain full nodes.

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November 14, 2017, 01:30:02 PM
 #5626

http://zcoin.io/znodes-specifications-release-founders-rewards-reduction/

We are happy to make two very important announcements, the release of the details of Znodes and a reduction in Founders’ rewards!

Znode Requirements

Znodes allow for incentivized nodes to host a complete version of the blockchain and help to ensure nodes are sufficiently powerful to process and verify computationally intensive Zerocoin transactions. Unlike other coins’ masternodes that process privacy transactions, Znodes are trustless, meaning you don’t have to trust them to keep your anonymity or to hide how your funds were anonymized. This is because the Zerocoin protocol relies on zero knowledge proofs and cryptography to ensure that results can always be independently verified.
We have finalized the specifications required for a Znode so our community and existing/potential investors can prepare themselves:

1000 XZC
A computer or VPS with a fixed IP address
1 GB of RAM
Enough disk space to store the blockchain (25gb is recommended for the moment)

Typically a VPS of this specification costs around USD5 to run a month per node and you can head on to Vultr, Linode, or DigitalOcean to obtain a basic VPS when Znodes are launched.

We are currently testing Znodes on our testnet and are set to launch at the end of November-first week of December 2017. We are working with exchanges and pools to ensure a smooth transition for the hard fork required. We will also give instructions for people to run their own testnet Znodes in the next few days.

Founders’ Rewards Reduction: Giving Back to the Community

Currently, 20% of each block (10 xzc) for the first four years of Zcoin (after which there will be no more rewards) will be given to our seed investors, founder and a bounty wallet to fund the team. This worked out to be a total of 10% of total supply.

This is broken down as follows:
Poramin Insom (Founder and Lead Dev): 2 XZC
Seed Investors: 6 XZC
Team and Bounty Wallet: 2 XZC
Total: 10 XZC

With the launch of Znodes, Poramin Insom, Roger Ver, Tim Lee and the other seed investor have agreed to reduce their rewards by half towards Znode’s share of the block reward and also an increase to the Team and Bounty wallet!

This will allow the team to remain sufficiently funded so that we can invest in hiring more developers and deploy additional marketing. The new Founders’ Rewards after the Znode hard fork will be as follows:

Poramin Insom: 1 XZC
Seed Investors: 3 XZC
Team and Bounty Wallet: 3 XZC
Total: 7 XZC
This means that now the Founders’ Reward has been reduced from 20% of each block to 14% of each block with Poramin and the other seed investors all taking a 50% cut. As before, all Founders’ Rewards will cease after 4 years (of which 1 year has already elapsed).

Economics

Nodes will be allocated 15 XZC per block or 30% of the block reward. The charts below illustrates how the block reward is divided before and after the hard fork, with some estimated return calculations based on 50% or 60% of supply being held in Znodes. The returns are of course dependent on actual take up rate of the Znodes.


Good news, thank you dev.
I think 1000 XZC to make a node is ver few : I was more thinking about 2000 or 2500 XZC, specialy since XZC is very cheap (under 0.005 btc).
Can you explain with more precision (examples) the nodes revenues please ?

The easiest and speedest way to begin to mine (la façon la plus simple et la plus rapide pour commencer à miner) : Minergate
My Bitcoin address : 14NkiEKAfH31wKNgNjK7zD98M165qv7i12
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November 14, 2017, 01:37:48 PM
 #5627

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.
If that is the case, then there will be a lot less revenue from the same hash mining in the future.
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November 14, 2017, 01:56:13 PM
 #5628

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.
If that is the case, then there will be a lot less revenue from the same hash mining in the future.
No, because XZC price will increase a lot with all the work of the team and the community support.
... and don't forget the decrease of the actual taxes for dev and early supporters.

The easiest and speedest way to begin to mine (la façon la plus simple et la plus rapide pour commencer à miner) : Minergate
My Bitcoin address : 14NkiEKAfH31wKNgNjK7zD98M165qv7i12
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November 14, 2017, 02:11:23 PM
 #5629

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.
If that is the case, then there will be a lot less revenue from the same hash mining in the future.
No, because XZC price will increase a lot with all the work of the team and the community support.
... and don't forget the decrease of the actual taxes for dev and early supporters.
And also MTP when it will be ready next year will further improve decentralization by making mining more accessible to everyone.
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November 14, 2017, 02:24:29 PM
 #5630

Does the establishment of znodes affect GPU mining?
The way I read it, mining tax is increased from 20% to 44% (ouch!), thus making GPU mining less profitable.

I used to think cryptocurrencies were all about decentralization. But with masternodes, we're back to old-time capitalism, where big investors get disproportionately large returns.
If that is the case, then there will be a lot less revenue from the same hash mining in the future.
No, because XZC price will increase a lot with all the work of the team and the community support.
... and don't forget the decrease of the actual taxes for dev and early supporters.

As long as mining yields reasonable profits/ROI I will keep mining XZC as I believe in this coin for future.

P.S.:Also it is a better practice not to get attached any coin Smiley

We r here to stay (aka for profits)
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November 14, 2017, 02:44:06 PM
 #5631

Does anybody know why Cryptopia Zcoin wallet is down for like a week now?
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November 14, 2017, 04:03:31 PM
 #5632

So block reward for mining going from 40 down to 28?
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November 14, 2017, 05:42:05 PM
 #5633

Excelentes atualizações , veremos preço em 0.01 Sat em breve  ?  Será?
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November 14, 2017, 06:33:03 PM
 #5634

the last time i saw the price of zcoin is at 10 usd now it's already 24 usd. i shoulve bought a lot of zcoins at that time. it's still not too late though.

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November 14, 2017, 06:34:43 PM
 #5635

Does anybody know why Cryptopia Zcoin wallet is down for like a week now?
I am not sure about but could be possible they are updating the new version of the wallet, wait for other to confirm!

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November 14, 2017, 06:41:43 PM
 #5636

Does anybody know why Cryptopia Zcoin wallet is down for like a week now?
Have same problem. Wrote 2 tickets in the support and asked a question in cryptopia topic on this forum and did not receive any reply
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November 14, 2017, 07:37:47 PM
 #5637

http://zcoin.io/znodes-specifications-release-founders-rewards-reduction/

We are happy to make two very important announcements, the release of the details of Znodes and a reduction in Founders’ rewards!

Znode Requirements

Znodes allow for incentivized nodes to host a complete version of the blockchain and help to ensure nodes are sufficiently powerful to process and verify computationally intensive Zerocoin transactions. Unlike other coins’ masternodes that process privacy transactions, Znodes are trustless, meaning you don’t have to trust them to keep your anonymity or to hide how your funds were anonymized. This is because the Zerocoin protocol relies on zero knowledge proofs and cryptography to ensure that results can always be independently verified.
We have finalized the specifications required for a Znode so our community and existing/potential investors can prepare themselves:

1000 XZC
A computer or VPS with a fixed IP address
1 GB of RAM
Enough disk space to store the blockchain (25gb is recommended for the moment)

Typically a VPS of this specification costs around USD5 to run a month per node and you can head on to Vultr, Linode, or DigitalOcean to obtain a basic VPS when Znodes are launched.

We are currently testing Znodes on our testnet and are set to launch at the end of November-first week of December 2017. We are working with exchanges and pools to ensure a smooth transition for the hard fork required. We will also give instructions for people to run their own testnet Znodes in the next few days.

Founders’ Rewards Reduction: Giving Back to the Community

Currently, 20% of each block (10 xzc) for the first four years of Zcoin (after which there will be no more rewards) will be given to our seed investors, founder and a bounty wallet to fund the team. This worked out to be a total of 10% of total supply.

This is broken down as follows:
Poramin Insom (Founder and Lead Dev): 2 XZC
Seed Investors: 6 XZC
Team and Bounty Wallet: 2 XZC
Total: 10 XZC

With the launch of Znodes, Poramin Insom, Roger Ver, Tim Lee and the other seed investor have agreed to reduce their rewards by half towards Znode’s share of the block reward and also an increase to the Team and Bounty wallet!

This will allow the team to remain sufficiently funded so that we can invest in hiring more developers and deploy additional marketing. The new Founders’ Rewards after the Znode hard fork will be as follows:

Poramin Insom: 1 XZC
Seed Investors: 3 XZC
Team and Bounty Wallet: 3 XZC
Total: 7 XZC
This means that now the Founders’ Reward has been reduced from 20% of each block to 14% of each block with Poramin and the other seed investors all taking a 50% cut. As before, all Founders’ Rewards will cease after 4 years (of which 1 year has already elapsed).

Economics

Nodes will be allocated 15 XZC per block or 30% of the block reward. The charts below illustrates how the block reward is divided before and after the hard fork, with some estimated return calculations based on 50% or 60% of supply being held in Znodes. The returns are of course dependent on actual take up rate of the Znodes.



Thank you for this excellent news.

This is the beginning of the Zcoin festival.

The best altcoin in its class.

Enjoy!

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November 14, 2017, 07:59:58 PM
 #5638

Hi, guys, tell me where are you incorporated?
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November 14, 2017, 11:07:56 PM
 #5639

There is a problem

zcoin-qt-v0.13.3.2-win64

6 DAYS Behind  "60065 block "

no block  source  available



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November 14, 2017, 11:13:14 PM
 #5640

There is a problem

zcoin-qt-v0.13.3.2-win64

6 DAYS Behind  "60065 block "

no block  source  available



https://zcoin.io/reindex-zcoin-wallet/
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