Blocknet BLOCK to Zcash ZEC Exchange

Crypto Pair Details: BLOCK to ZEC

Blocknet BLOCK

Blocknet (sometimes referred to as Block) is a decentralized, platform-as-a-service protocol that connects the nodes of different blockchains. As you probably know, there are hundreds, if not thousands, of blockchains that currently exist, and this number is showing no signs of slowing down its growth anytime soon. Many of these chains, though, are unable to communicate and interact with each other, creating small groups of siloed ecosystems. And, the inability of these groups to work together is holding back the entire blockchain industry. To solve this problem, Blocknet is working to make blockchains interoperable, mobile, and modular. This enables different chains to provide microservices to each other in a peer-to-peer fashion at higher security, faster speeds, and more efficient scalability than today’s current options. Blocknet is aiming to be the “Internet of Blockchains” through inter-blockchain connective services. Simply put, Blocknet enables you to develop on one blockchain, Ethereum for example, but access the functionality of other chains, like NEO. The team is building the infrastructure using three core components that work together to provide three primary services for these inter-chain decentralized applications (dapps). The XBridge, a blockchain router, is the backbone of the Blocknet platform. It’s the first peer-to-peer protocol to connect nodes on different blockchains, allowing them to communicate with one another. Using the XBridge, you’ll not only be able to perform cross-chain atomic swaps, but you’ll also be able to transfer additional data and execute smart contracts across chains. Blocknet uses a Proof-of-Stake consensus algorithm with three types of nodes to maintain the network. Service nodes collect and distribute trade fees on the platform as well as prevent spamming and DDoS attacks. To run a service node, you need to hold at least 5,000 BLOCK and keep your node computer running at all times. The Blocknet team recommends that, if you plan to run a service node, you should also run multiple full node wallets of whichever coins you want to support. This maximizes the trading fees you receive. Staking nodes confirm network transactions. When running a staking node, you’ll receive 9-14% annual returns from block rewards as well as a portion of the trading fees. There’s no minimum BLOCK amount you need to keep in your wallet to receive these, but you need to keep the wallet running at all times. There’s limited information available on the Blocknet team. Dan Metcalf and Arlyn Culwick founded Blocknet in 2014 as a fork of PIVX. According to his LinkedIn page, Metcalf was a Bitcoin developer for 5 years as well as a Senior DevOps Engineer at Philips. Outside of Blocknet, Culwick is also the PR and Media Liaison for XCurrency. Blocknet launched the service nodes on their main net in September 2017, and on March 1st, 2018, the team will release the beta version of the DEX. The project has also partnered with the 0x protocol to add ERC20 token support on the platform. Blocknet is connecting the isolated blockchain systems that currently exist to create one, cohesive ecosystem. Through the platform’s XBridge, the team is building a blockchain Internet in which you can build dapps that utilize features from several different chains. Starting with a DEX, the project has a lot on its roadmap including a service delivery system for blockchains to provide and receive payment for providing functionality to other chains. This is a complex project, but Blocknet already has the partnerships in place (0x, Poloniex) to see it through to the end. Blocknet consists of the following coins: XCurrency, Stealth, SonicScrewdriver, Fibre, Librexcoin, APEXcoin, BitSwift, XCash, UtilityCoin

Zcash ZEC

Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private. Zcash is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on Bitcoin Core's battle-tested codebase. Our improvement over Bitcoin is the addition of privacy. Zcash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them. How Zcash works Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity. Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers based on recent breakthroughs in cryptography. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing. Zcash also enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value. Check out CoinBureau for guide on What is ZCash.

SOURCE: COINGECKO

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