SERO price has increased 21 times since IEO on Gate.io in June 06. Is SERO really a serious project? Or is it just the prey of the market maker?
Let's Coin98 Learn more about the project, the technology platform of SERO through the content learned from AMA with Robert.B - co-founder of SERO in today's article.
- 1 What is SERO?
- 2 What is SERO Token?
- 3 What is Super-ZK? What is the advantage of Super ZK over Ring Signature?
- 4 SERO has just launched the Mainnet PoS. So why does SERO have to add PoS consensus on the Mainnet when PoW does so well?
- 5 What are SERO tokens?
- 6 Why do we need to hide transactions?
- 7 The privacy coin all have trouble from regulatory issues. So, how does SERO find the right balance between privacy and regulatory compliance?
- 8 How long is the minimum of SERO tokens used to stake locked?
- 9 What percentage of Staking Node will users get?
- 10 How many SERO nodes are currently available?
- 11 Why SERO is using UTXO & Account Mode, as well as Qtum. How important is this mechanism to SERO?
- 12 There are many DeFi Dapps built on the Ethereum Blockchain. Does SERO have any plan to catch up with this trend?
- 13 Development direction of SERO in the future
- 14 Le Thanh
What is SERO?
SERO is a Blockchain platform capable of performing secret transactions (Con ﬁ dential Transactions) using Zero-knowledge proof and Smart Contract support.
Put simply, SERO is defined as a privacy protection platform for dApp applications.
SERO aims to become a next generation security Blockchain that supports Smart Contract. Also, allow the issuance of privacy coins (private cryptocurrencies) and anonymous assets.
SERO has now developed Super-ZK - a new type of Zero-knowledge proof that is 20 times faster than zk-SNARK, the latest algorithm that Zcash is using.
The Sero team also defines SERO as the first private cryptocurrency protocol that supports smart contracts using zero-knowledge proof.
What is SERO Token?
SERO Token is the cryptocurrency of the Blockchain SERO platform that was released to the market in June 06.
SERO is pre-ming for 100 million SERO coins and these coins are sold to both private and public investors.
SERO is currently running on their Blockchain platform after completing the Mainnet in early June 06.
What is Super-ZK? What is the advantage of Super ZK over Ring Signature?
SERO has tested many different types of technology. They realize Zero-Knowledge is the safest and most powerful solution to protect privacy. ZKP does not need to build any trust or rely on centralized equipment.
Can all miners verify every legitimate transaction? And the beauty is that they never know the information in each transaction.
SERO has just launched the Mainnet PoS. So why does SERO have to add PoS consensus on the Mainnet when PoW does so well?
Many users think SERO is trying to reduce the amount of liquidity, making SERO prices increase more easily.
However, in fact, the SERO dev team decided to choose to focus on security issues.
There will be some ecology projects coming up in the future. The dev team is quite worried that the SERO network will be attacked by 51%. So, they decided to change the consensus algorithm with PoW + PoS.
Attackers not only need to have 51% of the PoW computing power. But also need more than 2/3 of the total PoS. Currently the total amount of PoS has exceeded the current circulation. Therefore, the SERO network is very secure.
What are SERO tokens?
The SERO dev team has designed the tokenomics model to avoid maximum deflation.
80% of the tokens will be used to pay rewards. They will be released in 101,5 years, with Halving as Bitcoin. This event will take place for the first time in May 05.
10% of tokens will be allocated to the team, also issued within 101 years.
The remaining 10% will be presale. This includes the sale of private sales to LD Capital, Qtum Fund, and private investors IEO on the Gate.
Maybe you are interested in: What is IEO? A Complete Guide to IEO Investments
Why do we need to hide transactions?
If you just build your own website, you don't need privacy. If you build a website for your family, you probably don't need privacy.
But, if you want to build a website for the public and hope users will upload their information. I think you must pay a lot of attention to Privacy.
That is why we need Privacy Public Chain.
The privacy coin all have trouble from regulatory issues. So, how does SERO find the right balance between privacy and regulatory compliance?
Every privacy coin faces the big challenge of regulation. Therefore, SERO chose an audit solution directly implemented by the user.
When users trust the third party, they can create Trace Key and send it to management. Third parties can only read transaction records of users with TK.
Therefore, users can compare this audit plan with the reality of the network and the traditional way.
Traditionally, third parties such as the audit department, finance department or tax department could not directly enter the company to get all financial books without the user's consent. The governing body can only ask the company's management to hand over the books for auditing.
This is exactly the same as the audit process designed by SERO. In addition, traditional companies can provide fake books for auditing.
But, all transaction records in Blockchain are transparent, easy to access, as long as the user provides the TK.
Solutions from SERO can protect the privacy maximum and valid as prescribed. User privacy data is regularly leaked. Even sold without the user's permission. User privacy is always infringed.
However, SERO specifically provides privacy for users. And the dev team hopes this will be a reference for other privacy coin projects.
How long is the minimum of SERO tokens used to stake locked?
There is no minimum time period.
However, if users cancel stake, SERO will be refunded to users in a month.
What percentage of Staking Node will users get?
Currently, the annual amount from PoS is 80 - 100%.
There are two ways of stake: SOLO Staking and StakeNode.
You can refer to more information at https://wiki.sero.cash/.
How many SERO nodes are currently available?
There are already over 12.835 PoW miners in Betanet. And, this number is still increasing daily.
Nodes are present in every region of the continent in the world.
Why SERO is using UTXO & Account Mode, as well as Qtum. How important is this mechanism to SERO?
The SERO platform supports Smart Contract. Therefore, they need to have Account Mode. And, privacy coin needs UTXO.
Such as Bitcoin. Because Account Mode is not readable. Therefore, mixed mode is required. Because SERO created a privacy coin to support Turing to complete the Smart Contract.
There are many DeFi Dapps built on the Ethereum Blockchain. Does SERO have any plan to catch up with this trend?
If there is any dApp on Ethereum need to protect privacy. They can transfer their dApp to SERO very easily. Because SERO is fully compatible with EVM.
Development direction of SERO in the future
You can update the SERO token issuance plan here.
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