What is Zano?
Zano (ZANO) is a blockchain-based project designed to create a stable and secure coin that can be used in the e-commerce industry. The platform aims to offer a variety of features, including reliability, flexibility, and security, that make it an ideal choice for P2P and e-commerce transactions.
The Zano network aims to maintain a proper operational structure that supports the e-commerce industry, with forward and backward compatibility, asynchronous core architecture, and component-based modular format being crucial code design qualities. To ensure additional security on the network, the transactions performed by users are made untraceable with ring signatures and stealth addresses. This makes Zano a safe and private transaction framework that does not require a delegated third party.
To provide maximum utility to the users through their wallet, Zano has introduced a multi-signature wallet, which allows two or more participants to handle a single wallet. The mechanism is mainly utilized in the escrow service, developed to encourage secure, unidentified payments between counterparties. Escrow service is a means of enabling any agreement requirements to be obeyed by all parties in a trustless manner.
Besides these facilities, Zano also uses the verified and time-tested cryptographic primitives initially presented with CryptoNote, while working on a hybrid PoS-PoW consensus mechanism. This structure safeguards the platform from double-spend attacks, both improbable and unfeasible. PoS was enforced to complement and improve the security offered by standard PoW blockchains.
To support the overall structure of the project, Zano coins were introduced. The coins are used to make payments and support all the operations carried out within the network.
The Zano project was cofounded by Andrey Sabelnikov and Pavel Nikienkov. The total supply of tokens is 13,105,947 ZANO.
In summary, Zano is a promising blockchain-based project that aims to offer a stable and secure coin for e-commerce transactions. The platform's focus on reliability, flexibility, and security, along with its various features, makes it an ideal choice for P2P and e-commerce transactions. The multi-signature wallet and escrow service offer maximum utility to users, while the hybrid PoS-PoW consensus mechanism ensures the platform's security. Overall, Zano is a unique and innovative project that has the potential to revolutionize the e-commerce industry.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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