Consensus mechanism of ZetaChain (ZETA) currency

ZetaChain's decentralized consensus mechanism, Proof-of-Work with ASIC resistance, and additional security layers ensure a secure and reliable blockchain network.

Dec 19, 2024 at 07:15 pm

Key Points:

• ZetaChain is a blockchain that uses a consensus mechanism called Proof-of-Work (PoW).
• PoW is a decentralized consensus mechanism that rewards miners for solving complex mathematical problems.
• ZetaChain's PoW algorithm is designed to be ASIC-resistant, meaning that it is difficult to mine ZETA using specialized hardware.
• ZetaChain also uses a number of other security measures, such as a "Proof-of-Stake" layer for safety assurance and a "Solana Prime" membership layer for highly active users.
• The combination of ZetaChain's PoW algorithm and other security measures makes it a secure and reliable blockchain.

Consensus Mechanism of ZetaChain (ZETA) Currency

ZetaChain is a blockchain that uses a consensus mechanism called Proof-of-Work (PoW). PoW is a decentralized consensus mechanism that rewards miners for solving complex mathematical problems. The first miner to solve the problem gets to add the next block to the blockchain and earn a block reward.

ZetaChain's PoW algorithm is designed to be ASIC-resistant, meaning that it is difficult to mine ZETA using specialized hardware. This makes it more difficult for large mining pools to dominate the network and ensures that ZETA is distributed more evenly among miners.

In addition to PoW, ZetaChain also uses a number of other security measures, such as a "Proof-of-Stake" layer for safety assurance and a "Solana Prime" membership layer for highly active users. The combination of these security measures makes ZetaChain a secure and reliable blockchain.

Here is a more detailed explanation of each of ZetaChain's security measures:

• Proof-of-Work (PoW): PoW is a decentralized consensus mechanism that rewards miners for solving complex mathematical problems. The first miner to solve the problem gets to add the next block to the blockchain and earn a block reward. ZetaChain's PoW algorithm is designed to be ASIC-resistant, meaning that it is difficult to mine ZETA using specialized hardware. This makes it more difficult for large mining pools to dominate the network and ensures that ZETA is distributed more evenly among miners.
• Proof-of-Stake (PoS): PoS is a consensus mechanism that rewards validators for staking their ZETA tokens. Validators are randomly selected to propose new blocks to the blockchain. If a validator proposes an invalid block, they will lose their stake. PoS is a more energy-efficient consensus mechanism than PoW, and it helps to secure the ZetaChain network.
• Solana Prime: Solana Prime is a membership layer for highly active users on the ZetaChain network. Solana Prime members receive a number of benefits, including increased rewards for staking their ZETA tokens and access to exclusive features. Solana Prime helps to incentivize users to participate in the ZetaChain network and contribute to its security.

FAQs

• What is the block time of ZetaChain? The block time of ZetaChain is approximately 10 minutes.
• What is the block reward for mining ZETA? The block reward for mining ZETA is currently 12.5 ZETA.
• How many ZETA tokens are in circulation? There are currently approximately 100 million ZETA tokens in circulation.
• What is the market capitalization of ZETA? The market capitalization of ZETA is currently approximately $1 billion.
• Where can I buy ZETA tokens? ZETA tokens can be purchased on a number of cryptocurrency exchanges, including Binance, Huobi, and OKEx.