Exolix and Zano Partnerships: Empowering Privacy

Exolix, the leading instant cryptocurrency exchange service, is proud to announce its partnership with Zano, a privacy-focused blockchain ecosystem. Let's explore the world of Zano in more detail, focusing on some of its cutting-edge features, such as Zarcanum, private assets, and plans for the future.

What is Zano?

In today's digital world where the value of privacy is ever-increasing, Zano stands out by offering a dedicated platform focused on privacy and security. Zano is an open-source cryptocurrency and ecosystem that promotes user anonymity and data protection and is essentially created to offer consumers a private, scalable, and secure way to conduct online transactions. Zano places a high priority on privacy and uses the latest cryptographic algorithms to ensure the privacy and security of user data.

Confidential Assets

Understanding Confidential Assets:

Confidential assets are a fundamental component of the Zano platform. At their core, they are digital assets with enhanced security and privacy that can be transacted through the Zano network. Their key difference from standard cryptocurrencies, where transaction data is publicly viewable on the blockchain, is that confidential assets use complex cryptographic techniques to protect sensitive information such as transaction amounts and asset types from outsiders. This protects users' financial information from monitoring and unwanted access, allowing them to transact with a higher level of privacy and anonymity.

With Zano Confidential Assets, anyone can easily issue their own currencies and digital tokens on the Zano chain; assets secured by the same mechanisms that make Zano itself so much more secure than first-generation cryptocurrencies, namely hidden addresses, hidden amounts, and IP obfuscation. 

Use Cases:

Confidential assets can be used for more than just improving privacy. They open up many possible use cases across industries where privacy, security, and anonymity are critical. Confidential assets, for example, can enable private and secure transactions between people or companies in the financial sector without the need for intermediaries or external oversight. This creates opportunities for secure peer-to-peer lending networks, automated payment systems and asset tokenization, among other financial breakthroughs.

Decentralized Exchange

In addition to their usefulness in financial and supply chain applications, confidential assets play a critical role in powering the decentralized exchange DEX on the Zano platform. By integrating confidential assets into the DEX infrastructure, Zano allows users to trade digital assets that are deployed on Zano securely and anonymously without relying on centralized exchanges or sacrificing privacy. This decentralized approach not only increases user autonomy and control over their assets but also reduces the risks associated with a centralized exchange.

Zarcanum: What is it?

Zarcanum is the world's first Proof of Stake project with hidden amounts, and Zano is at the very beginning of the development of this technology. This method provides the highest level of user privacy and security. Zarcanum promises complete confidentiality and anonymity, hiding both the amount and identity of the staker, unlike the already-known Proof of Stake protocols, which require disclosure of the exact amount staked affecting users’ privacy.

Hybrid PoW/PoS: What is it?

An entirely new PoW/PoS connection process, Zano combines the benefits of the Proof of Stake and Proof of Work protocols. This technology protects the network from possible hacks and attacks, increases network security, and ensures its integrity. Zano is building a strong and durable blockchain ecosystem by leveraging the computing power of Proof of Work and the financial incentives of Proof of Stake.

The hybrid setup makes an attack on the Zano blockchain way more expensive than on a traditional pure PoW or pure PoS blockchain. This is because on Zano you need both a significant amount of the hashrate AND a significant amount of the staked coins to perform a 51% attack successfully. To get millions of coins the attacker has to acquire them on the exchanges, making the cost of the attack highly infeasible.

Plans for future development

The immediate goals for the future are described in Zano’s roadmap. It includes the creation of decentralized exchange platforms as well as applications and management systems. Zano Emphasizes development and creativity and strives to improve security and privacy rules on the blockchain network. Zano's main goals are to encourage and embrace the technology development community while ensuring that its platform remains accessible and user-friendly for everyone. Now that the confidential assets technology is in place, the most exciting part is to have external entities launch their assets and projects on top of Zano's blockchain.

Emission and Fee Burning Model & Price Prediction

The Zano emission model has an important role in determining the long-term value of a cryptocurrency. Zano has a hybrid PoW/PoS consensus algorithm to secure the network and therefore emission is generated from two distinct sources:

• Proof of Work (PoW) mining. PoW mining creates new ZANO coins to reward miners for completing the calculation and therefore contributing to the network. 100% of the block reward goes to miners.
• Proof of Stake (PoS) staking. PoS staking also creates new ZANO coins to reward stakers for staking their funds and therefore contributing to the network.. 100% of the block reward goes to stakers.

Zano made the decision to set the block reward relatively low to avoid unnecessary selling price pressure while keeping the chain safe from TX flood. The block reward is fixed at 1 ZANO per block.

In addition to this, Zano is implementing a fee-burning mechanism to further increase the scarcity of its native token. Whenever transactions occur on the Zano network, all transaction fees are permanently removed from circulation by burning. This deflationary process reduces the total supply of Zano tokens over time, increasing their scarcity and potentially increasing their value.

While it is difficult to predict the exact price trajectory of any cryptocurrency, Zano's fee issuance and burning methodology sheds light on the platform's long-term benefits. As the adoption of the network grows and transaction volume increases, more ZANO tokens are burned. It is predicted that the token shortage will increase as the production rate gradually decreases and the supply of Zano tokens steadily decreases as a result of fee burning. In the future, this shortage, coupled with growing demand for cryptocurrencies that prioritize privacy, could drive up Zano's value.

Conclusion

In conclusion, Zano is an innovator in the field of privacy-focused cryptocurrencies, ushering in a new era of digital privacy and financial sovereignty. Our collaboration exemplifies the relentless pursuit of excellence in the cryptocurrency space. As the digital asset landscape continues to evolve, partnerships like these offer enormous potential and pave the way for seamless and secure transactions, ensuring a brighter future for crypto enthusiasts and a growing financial environment for generations to come.

Note. Price forecasts are based on past performance and current market trends and do not constitute financial advice. Always do your own research before making any investment decisions.