Zano leverages the proven and time-tested cryptographic primitives that were first introduced withCryptoNote. Transactions are made both untraceable, and unlinkable by using stealth addresses andring-signatures. As first implemented in Boolberry, downstream sender privacy is guaranteed by usingoutput flags.
Zano uses a hybrid PoS — PoW consensus mechanism. This makes double-spend attacks both un-feasible and improbable. PoS was implemented to complement and enhance the security provided by traditional PoW blockchains.
Each Zano user can register with an alias, for example: @mywallet, a human-readable name associated with a payment address. Zano users can easily send transactions to an alias: their wallets automatically check whether the name is registered in the blockchain.
Escrow, like its name, is a mechanism that was designed to facilitate secure anonymous payments between counter-parties. Zano provides the framework for a secure and private transaction without the need for a trusted third party. Our Escrow system (as proposed) will require participants to make additional deposits, which they will forfeit if there is any attempt to act maliciously, or in a way that is contemptuous toward their counter party.
You can mine coins and use staking to increase your balance, trade coins on cryptocurrency exchanges or swap your Boolberry (BBR) coins to Zano (ZANO).
Switching to Zano is made easy for any Boolberry user, as BBR coins can be exchanged for exactly the same amount of Zano coins. The coinswap is essentially making a transaction to a special Zano address. Once confirmed , the user loses BBR coins and gets same amount of ZANO. BBR coins will be burned and no longer exist in Boolberry network.
Zano and Boolberry are completely separated blockchains. Boolberry network will remain after Zano launch. None of Boolberry transactions will be copied to Zano network. The Dev team will continue to maintain and support Boolberry however, most of the new features will be developed into the Zano codebase.
The mixin count refers to a number of signatures (apart from yours) in the ring signature that authorizes the transaction. Higher mixin value will typically provide more privacy because it will provide a greater number of plausible deniability. It is impossible for any observer to know which is the real source of the funds.
This is due to many small inputs to the address. The solution is to split up the transaction and send smaller amounts.
To access the wallet in the event of a loss, you need something called a mnemonic recovery phrase or seed. This group of words that you received creating your wallet designed to add an extra layer of security. With these phrases you can easily restore lost wallets if you don’t have the passkey.
As Zano wallet is a full node application, due to loading a blockchain and multiple wallets synchronizing , start time depends on your system specification and may be bottlenecked by internet connection speed.