ZestCoin- Scalable, Effective & Platform Ready

tissuesurgeon (34)in #masternodes • 6 years ago

Introduction
With the arrival of new technological advancement, the internet has witnessed a tremendous change. It is the belief of some scholars that a lot of lives has been changed by the internet, mostly in the world of business and that of economics where it serves us a platform for sharing information’s, selling products, providing services, internet banking and doing transactions. Although the internet continues to provide fresh and exciting opportunities, it has brought about the emergence of another great breakthrough called Blockchain. Blockchain together with the internet has provided another means of trading, investing and doing transaction by the use of a digital currency called Cryptocurrency and also making it easier and better than carrying the fiat currency which at times becomes cumbersome.
However, digital currencies are the new dimension in the world’s financial system and these digital currencies are called cryptocurrencies. Cryptocurrencies began with Bitcoin in 2009, created by Satoshi Nakamoto. The general idea behind Satoshi’s creation of bitcoin was to develop a currency that operates on a decentralized platform where funds can be sent from any part of the world or received at any part of the world with fewer difficulties and charges associated with the transactions made. Since the creation of bitcoin, there has been the creation of about hundreds of digital currencies or cryptocurrencies such as Ethereum, Dash, Bitcoin Cash, Stellar etc. From 2009 to 2108, cryptocurrencies is one of the fast-growing sectors of the world’s financial system with about billions of people living in this new era of technological advancement either buying or selling cryptocurrencies for other cryptocurrencies. The backbone of all these cryptocurrencies is the blockchain technology. Blockchain technology is a digital ledger on networks of computers which works by storing data on block on these networks. This technology provides a decentralized platform where everyone can see every transactions made on the network. With this limitation, masternode was introduced.
Built on the blockchain technology, masternodes can be simply described as servers on a decentralized network that keeps the full copy of the blockchain and relaying blocks/transactions. Masternode provides an increase in privacy with relation to transactions made on the network and also provides instant transactions. Running a masternode is now a new way to generate a passive income. With such innovation to blockchain technology, masternodes present some challenges which they include embezzlement and fraud, high inflation rates, transparency of fund allocation, diluted coin prices, unsustainable rewards, and soliciting public donations. Based on these challenges, Zest project was born. There have been so many masternode projects which were aimed to bring a solution to these but were not successful. The team behind the Zest project has introduced a masternode platform which is ready to solve these challenges.

Since masternodes are a tool to be used on the network and have been drastically underutilized by prior projects. One of the fundamental problems concerning Masternode coins are teams designing the use cases using the same methodology of thought surrounding how they can be implemented and used. Masternode coins often lure investors into their platforms by noting characteristics such as dark-send, instant transactions, and eco-friendly. However, research done by the zest team suggested these have become overused.
With Zest, the team has reverse engineered the current understanding of how masternodes are traditionally used to construct a self-sustaining platform that harnesses the power of blockchain technology to benefit all global users.
The Zest project focus on decoding cryptocurrencies making it safe for everyday consumers and users to do monetary transactions safe. In order to achieve this, users will just need basic computer skills and common sense to use the Zest’s proprietary approach to dedicated masternodes. Each Dedicated Masternode Pool is built on the principles of altruism and giving back to the global community, establishing Zest as the world’s first cryptocurrency designed for cyclical good. With Zest, they are self-reliant through the use of their dedicated Masternode pools, which allow us to generate funds without the need for external donation or sponsorship. Zest’s dedicated Masternode pools allow the Zest Foundation to mine its coins, then in turn, trade them for BTC and fiat, which support the external initiatives.