Article Summary, Automatically Generated By AI
About Zano
- Zano is a privacy-centric blockchain ecosystem launched in 2019.
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Features:
- Untraceable transactions using ring signatures and stealth addresses.
- Upcoming Zarcanum hardfork introducing RingCT and Proof of Stake algorithm with hidden amounts.
- Confidential Assets: privacy tokens with same features as native Zano coins.
- Hybrid PoW-PoS consensus algorithm.
- On-chain aliases, escrow contracts, and built-in staking system.
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Security features:
- Anonymous and untraceable transactions.
- Multi-signature functionality for
About Zano
Zano is a decentralized, open-source, and community-driven cryptocurrency that leverages the power of blockchain technology to provide a secure, transparent, and efficient means of exchanging value.
Zano, a pioneering privacy-centric blockchain ecosystem launched in 2019, boasts unparalleled transactional secrecy. Leveraging ring signatures and stealth addresses, Zano transactions remain untraceable. The forthcoming Zarcanum hardfork will usher in a new era, as Zano transitions to RingCT and pioneers the first-ever Proof of Stake algorithm with hidden amounts. Moreover, the Zarcanum hardfork will introduce Confidential Assets, privacy tokens that operate on the Zano blockchain, inheriting the same privacy features as native Zano coins. This innovation enables developers to seamlessly run their privacy-oriented projects without the burden of maintaining independent blockchains, resolving consensus issues, or navigating the complexities of network operation. Zano’s security is reinforced by a unique hybrid PoW-PoS consensus algorithm, equally applicable to assets. Additionally, Zano supports on-chain aliases, escrow contracts, and features a built-in staking system with no minimum requirements or time locks, offering a multitude of benefits for both users and developers.
Through the innovative application of ring signatures and stealth addresses, transactions are rendered anonymous and untraceable. Furthermore, multi-signature functionality enables multiple users to jointly control a single wallet, facilitating the implementation of escrow services and two-factor authentication protocols. Additionally, users are empowered to create bespoke escrow contracts, complete with required deposits, to facilitate trustless agreements.
Within the Zano network, members are afforded the convenience of adopting aliases, such as @username, which can be seamlessly linked to a payment address, thereby enhancing overall user experience. In the future, these aliases will be integral to a dedicated messenger service, a reputation system for users, and an innovative authentication system based on aliases.