Whatever Title Here
No, really. Completely decentralized
If you’re reading this, I assume we can dispense with the basics
**Proof of Work** TKlink, can no longer be considered safe from centralization & is a total energy hog.
**Proof of Stake** TKlink is much better. But the rich still get richer become problematic whales over time, & there’s no foolproof ideas yet on how to solve the Nothing At Stake attack vector.
**Federated Blockchains.** TKlink lol
Like many of you, I mined Bitcoin back when it was the only coin. I participated in the Ethereum ICO & The DAO. I’ve hodled through and through.
And I couldn’t help… having watched & sometimes helped buidl the rise and fall (and rise and fall) of countless iterations of these 3 consensus mechanisms… I couldn’t help but play with ideas for how to solve this decentralization puzzle.
None of us could.
I’ve been fortunate enough to be able to use the knowledge & funding the blockchain movement has afford me to buidl a local home for the cypherpunk cryptocurrency community in Bali, and surround myself with veterans TKlink of several impactful and industry leading blockchain projects, just so I could devote everything I had to this one fascinating problem.
TK hardWorkingGif like https://giphy.com/gifs/rock-coding-programming-MdA16VIoXKKxNE8Stk of whole team TK
Well there’s no way to say this without sounding full of myself so I’ll just say it, I think I can gratefully stand on the shoulders of our cryptographic giants and propose a third Proof of X consensus mechanism to solve the centralization-susceptible flaws of the first two.
I recognize that’s a bold claim in a world that’s sick of hearing them.
But if you give me 6.82 minutes, I bet I can convince you that I at least might be onto something.
The name is Proof of Participation.
Here’s how it works:
Let’s start with the miners.
Similar to a federated consensus, PoP has a federation of nodes called the “Node Registry” who’s members are allowed to create blocks. However the gatekeeper to this federation is no human or organization but simple code.
Similar to PoS, each of these nodes holds some amount of ZBC tokens which are used to insure their trustworthiness. However on ZooBC the amount at stake is likely to be wildly disparate between nodes & one’s coinbase reward is not proportional to it.
The relationship between the two is as follows:
1) Roughly once a day, there is an opportunity for n amount of new nodes to be admitted into the Node Registry.
2) The winning nodes are chosen by simple auction; whichever nodes have staked the most tokens this round. Stake is set by nothing more complicated than supply & demand.
From this moment forward, both their coinbase reward and their continued existence within the Node Registry is determined completely by their participation in the maintenance of the network. Their Participation score gradually fills up to 100% with every block created or propagated, and they are penalized when they fail to do so or produce a valid receipt of having done so when queried.
Rewards are psudo-randomly distributed with every block, with every node in the registry has a 1*P (where P is Participation score between 0 and 1) chance of being the recipient.
In an ideal scenario in which every single node participates 100%, every single node earns roughly the same reward over time.
This is an element of fairness & integrity not present in most other blockchains. For example in Bitcoin or Ethereum, all a mining node has to do is create blocks. It’s taken on good faith that node operators are also contributing to the blockchain’s health by propagating blocks and transactions. Good faith which has been completely abused in PoW’s race to the cheapest, with the work now left to altruistic validating nodes (which should not have to exist for a chain to be secure).
Unlike PoW and PoS, **the chain can’t be attacked quickly** because even if the attacker make the four highest bids every single day they can only acquire 4 new nodes a day. They could also purchase Registry nodes from their owners, but since there is a limited supply these purchases would also have to be spaced out over time or risk becoming prohibitively expensive.
Meanwhile the potential negative influence of a miner’s stake amount is much diminished while the insurance against dishonestly that the stake is supposed to provide is augmented by the value of owning a participating node within the Node Registry. One cannot become a networking-threatening whale simply by buying up a huge amount of nodes & reinvesting their compounding interest, because **there is no compounding interest**.
The rich can get richer, but not so rich that they become an existential threat.
First-ever INO (Initial Node Offering)
An honest way to get early benefits,
while ensuring widespread decentralization.
ZooBC Unique Specs
Brand New Consensus Mechanism
Government Compliant Digital Signatues
Digitize Anything You Own On The Blockchain
Download the Blockchain With Ease
Minimal Mining Power – Eco-Friendly & User-Friendly
Heightened Decentralization & Secruity Via Node Entry Requirements
ZooBC EVENTS TIMELINE
See ZooBC timeline for 2020
ZooBC Main Net ERC-721 – PreSale Starts!
ZooBC Test Net ERC-721 is available!
ZooBC Main Net ERC-721 Sales Open!
Snapshot of the Test Net ERC-721 is made to create Test Net Genesis Block 01
ZooBC Blockchain Test Net Known Nodes are started
Test Net Core Node Software with Test Net Genesis Block 01 is published for download
ZooBC First deployment of the Beta Test Net – Test Net Genesis Block 01
Snapshot of the Test Net ERC-721 is made to create Test Net Genesis Block 02
Test Net Core Node Software with Test Net Genesis Block 02 is published for download
ZooBC Second deployment of the Beta Test Net – Test Net Genesis Block 02
Snapshot of the Test Net ERC-721 is made to create Test Net Genesis Block 03
Test Net Core Node Software with Test Net Genesis Block 03 is published for download
ZooBC Third deployment of the Beta Test Net – Test Net Genesis Block 03
See ZooBC timeline for 2021
ZooBC Test Net ERC-721 cannot be traded anymore (stop trading)
ZooBC Test Net ERC-721 cannot be edited anymore (stop editing)
Official and final Testnet Genesis block is built
Proof of Existence of ZooBC Final Test Net Genesis block is done
Test Net Core Node Software with Final Test Net Genesis Block is published for download
Deployment of the OFFICIAL ZooBC Test Net – Test Net Genesis Block
ZooBC Main Net ERC-721 cannot be traded anymore (stop trading)
ZooBC Main Net ERC-721 cannot be edited anymore (stop editing)
Proof of Existence of ZooBC Main Net Genesis block is done
ZooBC Blockchain Main Net Known Nodes are started
ZooBC Main Net Core Node Software published for the public to download
Full Support and Live Monitoring of the Network Peers of the Genesis Block Account to be online, connected and ready
The first block of ZooBC Main Net will be created: ZooBC is LIVE!
New Nodes can start queuing and get ready to be included in the registry from June 21st 2021
ZooBC starts accepting new nodes in the Proof of Participation registry
STAY UP TO DATE ON ZooBC!
Genesis Seat Benefits
- Rewards from day zeroHaving your account in ZZooBC Genesis Block means you start collecting coinbase rewards from the day the blockchain is launched. Others, to add their nodes to the registry of ZooBC and start collecting rewards, need to put them in the queue, lock ZBC coins more than others, wait 3 months, […]
- Head Start On Building Participation Score.Participation score keeps nodes in the registry, and is used to proportionally distribute the new coins created at each new block (higher the participation score, higher is the share of coins rewarded). Accounts that are in the Genesis Block of ZooBC start with a higher participation score compared to the […]
- 3 Months of Private Mining Rewards.Enjoy 3 months of high token rewards distributed among just a few accounts! ZooBC reduces the amounts of coins minted at each block in a curve that gives out 5% of the full 15 years production in the first 3 months. Not only: the first 3 months remain an exclusive […]