TrezarCoin ICO (TZC Token): Energy Efficient Cryptocurrency?
This is a nascent digital currency that prioritizes security and energy efficiency. The TrezarCoin cryptocurrency blockchain leverages both proof-of-work and proof-of-stake mining. As of now, no other virtual currency blockchain rivals the iteration of proof-of-stake mechanism implemented by the TrezarCoin blockchain. In addition to this, TrezarCoin employs multiple algorithms to bolster network security. Hence, TrezarCoin is the ultimate choice for crypto enthusiasts who cannot afford to compromise on security.
What Is TrezarCoin?
The salient features of the TrezarCoin include:
Essentially, NeoScrypt is an improved version of Scrypt. Nonetheless, it offers more security as well as improve general hardware performance while retaining its predecessor’s affordable expenses. Back in the days, Scrypt was hailed as a brilliant innovation- and truly was.
However, over the years, cybercriminals have upped their game, rendering Scrypt’s defensive mechanisms ineffective. For instance, it could not withstand 256-bit brute force attack. NeoScrypt uses impenetrable Salsa20 technology, making it impossible to breach. Furthermore, it is significantly faster, compatible with more devices and supports keyed hashing. The best bit is that it is relatively cheap.
Proof-of-Work & Proof-of-Stake
All cryptocurrencies are driven by an underlying database infrastructure that keeps a log of all transactions, called the blockchain. Instead of relying on a single authority, the security of a blockchain network is decentralized, as are other operations. Thus, a network of contributors have to validate a transaction before it goes through. The users, however, do not have prior knowledge of the block’s contents, eliminating the possibility of skewing.
The bitcoin blockchain utilizes a proof-of-work algorithm in the form of block mining. Each mining node on the network is expected to solve a computationally difficult challenge to assess the authenticity of a freshly-mined block. Upon getting the solutions, miners are rewarded in Bitcoin. This protocol is fair in that a miner receives Bitcoins proportional to the hashing power of their mining hardware. Therefore, for a successful breach to occur, the attacker would require enormous amounts of computational power. In summary, the Bitcoin network thrives on the scarcity of mining resources.
Unquestionably, Bitcoin is considerably wasteful from a resources’ perspective. Bitcoin miners are obligated to regularly upgrade their hardware to compete effectively. Consequently, the market had to come up with another protocol that is eco-friendly while being equally affective in curbing insecurity; the proof-of-stake algorithm.
Here, the probability of creating a block and get the designated reward is proportional to the user’s stake on the involved blockchain. This impels investors with high stakes to participate in securing he network, as thy have the most to lose. For a breach to occur, the attacker would have to won the highest stakes, a process that prohibitively expensive.
Checkpointing is means of upholding a blockchain’s integrity by storing blocks outside it. Bitcoin’s checkpoints are stored in the client’s node, meaning that the client software has to be updated every time the blockchain grows. As a result, clients who miss out on updates are vulnerable to attacks. TrezarCoin will create a master node which will store the checkpoints making networks more secure.
Orbitcoin Super Shield
This is a measure implemented to protect the network from multi-pool mining.
This advanced iteration of PoS prevents coins that are less than a-day-old from staking on the blockchain. Afterwards, this protocol randomly generates the staking turnaround times.