What is Zero (ZER) Crypto Beginner’s Guide
Zero is a new cryptocurrency that aims to be different from the rest. It is a fully functioning product that offers options that are not available with other cryptocurrencies and features like decentralization, low fees, and security. Combined with its other useful core features, the Zero Project hopes to lead a revolution in cryptocurrency.
Mission of Zero (ZER)
The Zero Project began in 2017 as an improvement to cryptocurrencies by offering less power consumption paired with faster processing, requiring less transaction fees, and allowing for untraceable and private transactions. It is both a cryptocurrency and a transaction platform that combines Bitcoin’s security with Zcash’s anonymity and privacy.
The project is supported by a community who is determined to offer a currency that will be both successful and usable across multiple applications. The community is continuing to evolve the project and has outlined several future developments for the project.
Upcoming designs include an exchange platform, Z-DEX, aimed at Zcash clones and forks that will also provide exchanges from fiat to Zero trading pairs. The Zero Project will also develop a payment system known as Z-Pay, which will work with the Z-DEX exchange to accommodate payment to merchants who do not directly accept Zero. It is possible that Zero could also be paired with other currencies in the future to further facilitate this kind of use.
The Zero Project envisions that Z-DEX and Z-Pay may assist as a gateway payment system for currencies that currently can not support their own transactions and trading.
Features of Zero (ZER)
Zero offers multiple enhanced features that will make it stand out from other cryptocurrencies. It offers truly anonymous transactions by allowing for complete shielding, making all transactions totally private and untraceable. Transactions are faster than Bitcoin, ETH, or Zcash, with sending and receiving funds only taking two minutes.
While Zero does charge transaction fees, they are minimal and significantly cheaper than any other major cryptocurrency on the market. Finally, Zero prides itself on the fact that there is no founder’s fee, unlike the majority of cryptocurrencies, allowing it to remain a truly decentralized currency.
Besides that, Zero offers state of the art security protocols. It is also far more environmentally friendly than most mined cryptocurrencies, as it requires 25-30% less power to support mining than most major cryptocurrencies and their equivalents. It was also designed to be resistant to ASIC mining so that large mining farms will not be able to dominate the mining process.
There are a lot of cryptocurrencies on the market, and most of them are trying very hard to stand out by either offering new and improved features or unique platform capabilities. While the Zero Project intends on continuing to grow, it is starting out by taking many of the faults and criticisms of current popular cryptocurrencies and improving them through faster, more secure transactions and economical mining.
If the project’s future ideas for platforms can assist in an easier use of cryptocurrency across the board, Zero may prove to be truly revolutionary.