All You Need to Know About Zano
What is ZANO?
Zano, designated as ZANO, represents a forward-thinking initiative aimed at creating a secure and reliable cryptocurrency tailored for application in the e-commerce sector. The project’s foundation lies in blockchain technology, chosen for its array of features such as reliability, flexibility, and security. These attributes position Zano as an optimal choice for peer-to-peer (P2P) and e-commerce transactions, ultimately seeking to enhance stability and performance for its users.
Who are the Founders of ZANO?
The ZANO project was co-founded by Andrey Sabelnikov and Pavel Nikienkov.
What are the Working Principles of Zano?
The project’s technical framework, as outlined in the whitepaper, emphasizes essential code design qualities including forward and backward compatibility, an asynchronous core architecture, and a component-based modular format. This approach ensures a robust operational structure that effectively supports the dynamic demands of the e-commerce industry. To augment security, Zano incorporates ring signatures and stealth addresses, rendering user transactions untraceable. Ring signatures involve a unique form of digital signature executed by a user group, while stealth addresses provide an additional layer of privacy by generating one-time addresses for each transaction.
In a bid to maximize utility for users, Zano introduces a multi-signature wallet, a crucial mechanism allowing multiple participants to manage a single wallet. This feature is particularly relevant in the context of an escrow service, designed to facilitate secure and anonymous payments between counterparties. Zano’s tokenomics encourage secure transactions without the need for a delegated third party, employing collateral as an economic incentive to deter malicious activities. The platform allows the creation of fully customizable contracts through its escrow service, ensuring that all parties adhere to agreement requirements in a trustless manner.
What is the Volume of Zano in Circulation?
The total number of Zano coins currently in circulation stands at a token supply of 13,105,947 ZANO. However, this figure is likely to change over time as the cryptocurrency market is unstable.
How Protected and Secured is Zano?
Zano integrates established cryptographic primitives from CryptoNote, incorporating a hybrid Proof-of-Stake (PoS) and Proof-of-Work (PoW) consensus mechanism. This hybrid model safeguards against double-spending attacks, both improbable and unfeasible. The introduction of PoS complements traditional PoW blockchains, enhancing overall security measures.
What are the Uses of Zano?
To facilitate transactions and operations within the network, ZANO coins were introduced. These coins serve as the primary means of payment and support the ecosystem’s functionality.
Where can I Trade Zano Coin?
Zano is traded on 4 exchanges. You can buy Zano on cryptocurrency exchanges like CoinEx, NonKyc.io, Tradeogre and Xeggex. However, the most popular exchange for trading ZANO currently is CoinEx.
