What is Project Z?
After a long development process, we are finally ready to announce that Zano is nearing the release stage. Today, our team has prepared a short recap to showcase the project’s features, technical background, and much more, including a detailed explanation of Zano’s connection to our older project, Boolberry.
What is Zano?
Zano is our new blockchain project, primarily aimed at e-commerce related applications. While developing Zano, we have taken our previous experience into account, therefore Zano inherits some of the older technological principles that proved to be effective (e.g. CryptoNote). However, some of the features are developed completely from scratch.
- Hybrid consensus algorithm
One of the key features which brings next-level security to our network is the PoW/PoS hybrid consensus protocol. The network favors blockchain extensions where PoW and PoS based blocks alternate, therefore minimizing intrusion possibilities, such as eg. the 51% attack.
- Efficient asynchronous core architecture
As scalability has always been an issue for older blockchain projects, we have put a lot of effort in the core of our project to make it as efficient as possible. As a result, we developed the asynchronous core architecture which allows for multiple transactions to be processed simultaneously.
- Multiwallet user-friendly interface
To make things easier for the network members, our user interface can now handle multiple wallets at the same time.
- Optimized single-file wallet
Any wallet can now be accessed with just a single file, which can be opened and used in various operation systems. Additionally, the size of this file is significantly optimized.
The multi-signature feature is an important improvement which is now fully integrated in all wallets, as well as in the core of our project.
- Contracts & Peer-to-peer transactions
The P2P transactions are now simple and efficient because of multi-functional contracts. Also, a high level of security is provided by the “Consolidated transactions” feature.
- Simplified Alias registration
Now getting an alias is as simple as regular transaction.
When Boolberry was initially launched, no pre-mineable coins were made available. We are aware the all BBR supporters and coin holders were interested in the project the way it was at that time. So, to make sure the rules are fair for everyone, we decided to provide all BBR holders with an option to make their own choices in terms of swapping BBR for Zano.
However, the whole ecosystem of modern blockchain projects has massively changed over the past few years. Staying competitive is progressively becoming more difficult, requiring highly qualified developers, software architects, marketing specialists, etc. Massive expertise in the field is crucial to provide the customers with a product that is efficient and easy to use for anyone.
We have invested a lot of time and effort into Zano, and user friendliness was one of the main focus points. Switching to Zano is made easy for any Boolberry user, as BBR coins can be exchanged for exactly the same amount of Zano coins. However, the coinswap is not forced in any way, so Boolberry users can keep BBR if they prefer.
Is Zano a hardfork?
It is very important to understand that Zano is not a hardfork of Boolberry. The BBR blockchain with all the past transactions is not copied over to Zano. This is an entirely new project, with its’ own genesis block. In Zano, coins are partially reserved for pre-mining and BBR coinswap.
Why do we burn swapped coins?
We are convinced that hardforks (or cloneforks) like Bitcoin Cash and Bitcoin Gold, where the old blockchain is copied over, do not support the core idea of all cryptocurrencies. This is because hardforks like these create a vacuum that blurs the value of blockchain technology.
In Zano, we offer users an option to upgrade to a more innovative project, while the option to stay on Boolberry remains. The coinswap is executed in a way where the BBR coins that get converted to Zano no longer exist in Boolberry network.
How does coinswap work exactly?
From the user perspective, the coinswap is essentially making a transaction to a special Zano address, which always starts with the letter “Z”. We made the coinswap process as easy and transparent as possible to alleviate any potential confusion. Coinswap transactions can be executed via the Boolberry GUI, simplewallet, or even directly from a coin exchange. In any case, the coinswap works just like a usual transaction.
From the technical perspective, coinswap is a special Boolberry transaction, which includes an encrypted Zano address in the extra data. This Zano address is where the converted coins are sent to. The actual output key of this transaction is zero, so after the coinswap the BBR coins are no longer possible to spend.
What about Boolberry?
We will continue to maintain and support Boolberry, as well as copy a few minor features from Zano. For example, an updated GUI based on qtWebEngine, an optimized compact wallet, and more. Besides that, we will keep releasing new patches to minimize bugs and vulnerabilities, and generally keep developing Boolberry as a classic PoW project.
As of today, Zano remains in final development stage and some of the project’s features are still unfinished others aren’t announced yet. Stay tuned for more updates!