More

    0chain: Zero Cost, Fast & Scalable Cloud Service For DApps?

    The success of cryptocurrencies has undoubtedly spurred a paradigm shift towards tokenization. As the days go by, more enterprises are launching proprietary tokens. Consequently, the need for an effective and scalable protocol to control Web and IoT applications is at an all-time high. By providing a zero-rated decentralized cloud, 0chain is an affordable, fast and an infinitely scalable blockchain made for the Internet of Things and Web applications.

    The inbuilt self-forking allows the component applications to independently adjust their needs in separate chains without affecting the credibility of the larger blockchain. Contrary to conventional cloud subscription models, DApps within the 0chain have to be token holders to access the blockchain. Hence, it is fundamentally a scalable cloud, set to grow in value as more digital apps enroll for the program.

    Problems Facing Blockchain Technology And Cryptocurrencies

    Scalability

    Presently, blockchain applications do not scale adequately and the cost of consensus is expensive. This make its impractical to implement the technology in micro-transactions and IoT devices. Usually, such gadgets transmit voluminous amounts of data, and would therefore require substantially high amounts of money to run on blockchain platforms. Furthermore, the response it time is considerably slower, since the data rates are miles apart from each other.

    Energy Waste

    Typically, Bitcoin and its subsidiaries use proof-of- work mechanisms to build consensus and advance blocks in the blockchain database. In addition to demanding specialized hardware, this method is not friendly to energy resources. Due to the enormous hashing power required to mine digital currencies, only a limited number of miners can mine the assets in bulk. This defies decentralization, a cornerstone of blockchain technology.

    Resource Scaling

    Ethereum, Bitcoin's closest competitor, has recently ingrained scripts on transactions to keep check of how users compute, store and utilize data on the blockchain. This has resulted in the imposition of gas (charging fees) to restrict the usage of computing power and storage space. As a countermeasure, applications run offline since gas costs significantly inflate the total expenditure. For IoT devices, this is impracticable since they have to be online throughout. Going by the prevailing gas rates, an average IoT device will attract an annual gas fee of $200,000, a cost that is unbearable.

    Forking

    Over time, blockchains need to overhaul their source code to add new features. During this period, their values are prone to plummeting.

    Inflation And Volatility

    Cryptocurrency values fluctuate at an astonishing rate and are heavily influenced by external factors. 0chain’s value us intrinsic and is affected by the number of users at a time.

    ICO Overview

    • Start date: April 2018
    • Token symbol: ZCHN
    • Total number of tokens: 400,000,000

    Distribution Of Funds

    • 50% will go to Miners, Sharders and Blobbers.
    • 30% will go to Team, Advisors and Development Partners
    • 10% will go to pre-sale and ICO.
    • 10% will go to reserve

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,287FansLike
    2,765FollowersFollow
    4,135FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    PAX Stablecoin Issuer Paxos Settles First US Equity Trade Using Blockchain

    The first blockchain-based settlement of US equities was claimed by Paxos, the New York-regulated cryptocurrency startup, Instinet, the broker dealer owned by Nomura, and...

    Ripple (XRP) Price Analysis (February 20)

    Key Highlights XRP's price strength has once again overpowered by the US dollar market worth. A fiercely breakthrough of a $0.30 mark will portend...

    Sweden's Riksbank Launches Its Central Bank Digital Currency (e-Krona) Testing

    Sweden is getting closer and closer to issuing its own central bank digital currency (CBDC), as it already started testing the e-krona. The pilot program...

    Australia’s National Stock Exchange Is Building A DLT-Based Real-Time Trading Platform

    Both companies listed publicly, NSX Ltd., which is the owner of the National Stock Exchange of Australia, and the financial institution known as iSignthis...

    Brazil Central Bank To Roll Out PIX, A Non-Crypto, QR-Based ‘Near Instant' Payment System

    Brazil’s Central Bank is set to launch a new payment system which it claims will offer near instant fund transfers. The new payment system...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.