EtherZero (ETZ) – The Next Generation of Smart Contract Platform
With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, EtherZero (ETZ), a new generation of smart contract platform (public chain) initiated by a group of professional and technical geeks has arrived.
“Decentralized applications (dApps) are one of the biggest potential uses of blockchain technology, as they open up whole new options for consumer- and business-focused products with functionality that hasn’t been seen before.
In 2017, the blockchain world was filled with hope and hype. It seemed almost any idea that used blockchain could raise a lot of capital through an ICO model with just a whitepaper and a dream. While many of the iconic platforms and projects in the blockchain world were created out of this hype, very few consumer-focused dApps, such as games or social networking applications, were created during this time.
As the hype subsided throughout 2018, though, dApps were being launched. Despite harsh market conditions almost three quarters (72 percent) of the projects that completed the survey were started in 2018, and 41 percent were started in the last six months.”
With that being said, EtherZero (ETZ) entity is registered in Singapore. In order to better serve DAPP developers and users, whether it is developing DAPP on the EtherZero chain, deploying smart contracts or user’s service, are all TX fee. In terms of transmission rate, EtherZero uses MPOS structure, enabling TPS to reach tens of thousands of levels.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is EtherZero?
As depicted above and as indicated on the official website of EtherZero, EtherZero (ETZ) is a new generation of smart contract platform (public chain) initiated by a group of professional and technical geeks. Its team members are from different countries in the world. EtherZero (ETZ) entity is registered in Singapore. In order to better serve DAPP developers and users, whether it is developing DAPP on the EtherZero chain, deploying smart contracts or user’s service, are all TX fee.
In terms of transmission rate, EtherZero uses MPOS structure, enabling TPS to reach tens of thousands of levels. The application of MasterNode enables EtherZero to achieve instant transmission function.
In addition, ETZ is an evolving platform that is created to handle the development of a general smart contract with no transaction fees, processing capacity of transaction very high and with a real time transaction. Developers around the world will be able to make use of Ether Zero platform and smart contract to build their new DApp and contribute to the advancement of the blockhain technology and the use of cryptocurrencies by improving upon crypto transactions.
Compare the outstanding features of ETZ with other virtual currencies:
Offers a total of 116 million ETZ
Trading time of 10 seconds
Block size of 2MB
Hardware extraction: GPU
Instant payment: yes
Master Node: support
Replication (TPS): 10000+
Smart contract: yes
The Features of ETHERZERO Network
MPOS structure of the Blockchain
Operating on the Masternode
The Autonomous Community management system
Zero TX fee which meet the requirement of DAPP’S operation, development and operation
Fast and instant payment very suitable for trading scene.
The ETZ has various types of wallets listed below:
Web wallet link :https://wallet.etherzero.org/
Official app wallet link : https://easyetz.io/index.html?id=1
Firefox extension wallet link : https://addons.mozilla.org/en-US/firefox/addon/goetz
EtherZero is a Popular Global Public Blockchain network, it has been developed by their Core and Senior Dapp Development Team hailed from India, Eastern Europe and China. The Team of are expatriates from different countries in the World. These Team also move forward in helping in the Project Research and Development. Vigorous marketing Campaign is in progress and being handled by their Marketing Team.
Mining Algorithm Adopted for EHTERZERO
(MPOS) Details about this will be found the link: https://etherzero.gitbook.io/doc
To Join Masternode in other to be earning rewards, a user must have minimum of 20,000 ETZ with a Computer machine. in EtherZero Network, 45% of each Block rewards are distributed to the Miners while 45% belongs to the main node, the rest 10% belongs to the autonomous Community.
In other to reach out to Etherzero Team, you can join their telegram group, WeChat group or alternatively contacting them direct via their special email email@example.com.
ETZ is trade able in multiple cryptocurrency exchange. You can consult this link to find a suitable exchanges to buy your shares of ETZ https://coinmarketcap.com/currencies/ether-zero/#markets
Transaction Charges in ETHERZERO Platform
EtherZero Development team have seen the loopholes in some existing Blockchain Platform that charges excessively for any services on their Platform. Etherzero has create improvement in this section. Transaction and Gas fee in EtherZero Platform has been made affordable. This is one of a kind, EherZero has developed a Zero fee Platform for their users. Their fee structure has been an attraction for different kind of developers to operate on their Blockchain. The Zero transaction fee. The frequent network usage, block validation by each users help in securing the network and preventing from the attackers EtherZero can be used in token payment
ETZ team has created a utility token which will serve as the main engine in driving the ETZ ecosystem. The ETZ will serve several purposes on the platform.
Although, ETZ is known to execute transaction with zero fees, users must hold some ETZ in the wallet to be able to gain POWER which is consumed during transactions. This POWER MECHANISM takes the place of spending money on Gas in the case of ETH transaction.
To carry out a successful transaction on the ETZ network, users are expected to hold a certain amount of ETZ , as low as 0.01 ETZ . POWER is issued to user’s wallet as bonus depending on the amount of ETZ held in such a wallet.
Also, to participate on the masternode of the platform, users must hold a certain amount of ETZ as a criterion from being a part of masternode. Ether Zero also is created with the capacity to achieve a high degree of decentralization with several masternodes with a high processing capacity of processing during transactions 1400 (TPS) transaction per second.
Power is a EtherZero-origin token generated on the MPOS mechanism, which is used to fuel transactions like GAS in Ethereum network, but it’s no tradable and transferrable. All account balance greater or equal to 0.01ETZ will continue to produce Power as the block grows until the Power limit is reached.
EtherZero’s killing feature means that it’s unnecessary for developers to worry about network congestion or transaction delay by deploying DApps in our platform. Block generation speed could be lower to 1~3 sec which could reduce confirmation time compared to 15 sec in Ethereum network.
EtherZero supports very high transaction volumes with fast verifications. Ethereum can only process 13 transactions per second, EtherZero can process 1,400 transactions per second.
Masternode + Proof of Stake
EtherZero uses MPOS consensus algorithm integrating Master node system with Proof of stake，which make the platform more decentralized and fair, The whole EtherZero network would be more stable when master nodes increase while all master node operators share 9 million ETZ annually.
Ethernet network is released for transaction fees.
ETZ will complete the release, increase transaction fees to combat DDOS.
Mobile wallet and DAPP application store will be issued to create benefits for customers.
End of Q1
Maternode will be tested successfully on Testnet.
End of 2nd quarter
Maternode will be tested successfully on Mainnet, will execute transactions on real time, will trade larger than 10000TPS
End of quarter 4–2018
Maternode optimized version will be complete, supporting tens of thousands of TPS.
Star’s DAPP application contests will launch long-term reward programs for developers and promote the community.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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