In my previous article Masternodes- The game changer I talked about what masternodes are?. In this article I will be covering the following- What the ANON community is like? & Network security and the 51% Attacks.
What is Anons Community like?
A great project needs a great community. The community should have a belief towards the project, and they should be loyal towards it aswell. I have recently joined the ANON community, their telegram group is full of great and amazing people who are out there helping each other. The admins on that group are super friendly and always address each and every question put up by the members. To answer each and every question is very important as that gives the community members reassurance and satisfaction with the project and the team behind the project. They have a growing community on reddit, twitter discord as well. Many new people have been joining the ANON's social media handles, this brings each and everyone close to each other. People discuss alot of things and share enthusiasm towards the project on these social media platforms. I have felt welcomed and all the discussions have helped me in having a better understanding of this project.
A solid and supportive community needs good handling too. The team is doing that very efficiently all the discussions are in limits and under control. The team also have a great Bounty Program going on for all the community members. The Bounty program engages the community and makes them a part of this project. Members can submit various creative things for this and earn some free ZCL (the parent coin for this fork). The community has been sending numerous pictures, videos, blogs etc for the Bounty Program. It is a great thing for the members and they have been showing it with their submissions.
Network security and the 51% Attacks
Network security places a crucial role in the cryptocurrencies. They work largely on a network of computers, the basic meaning of a blockchain is a network of computers. So keeping the network secure is very important for the swift working of a blockchain. Hackers can see a flaw in the network security and can attack the blockchain stealing away the currency or causing a disruption. Many measures are taken to maintain the network security. However, by controlling the majority of the computing power on the network, an attacker or group of attackers can interfere with the process of recording new blocks. They can prevent other miners from completing blocks, theoretically allowing them to monopolize the mining of new blocks and earn all of the rewards. They can block other users' transactions. They can send a transaction, then reverse it, making it appear as though they still had the coin they just spent. This vulnerability, known as double-spending, is the digital equivalent of a perfect counterfeit and the basic cryptographic hurdle the blockchain was built to overcome, so a network that allowed for double-spending would quickly suffer a loss of confidence. ANON here will be using zkSNARK and masternodes with addition to equihash protocols. This should help prevent any form of network failure.
The 51% attack
A 51% attack is a potential attack on the bitcoin network whereby an organization is somehow able to control the majority of the network mining power (hashrate). The attackers would be able to prevent new transactions from gaining confirmations, allowing them to halt payments between some or all users. They would also be able to reverse transactions that were completed while they were in control of the network. One of the recent attack was on BTG or BitcoinGold about $18million were stolen during that attack. The 51% attack can cripple a network greatly, However They would almost certainly not be able to create a create new coins or alter old blocks, so a 51% attack would probably not destroy bitcoin or another blockchain-based currency outright, even if it proved highly damaging. ANON will fight off all these attacks using appropriate security measures.
A currency with a great community and with an understanding of the importance of network security can only go in the right direction.You can visit the ANON website at www.anonymousbitcoin.io
Nice. I didnt know ANON was going to have masternodes. I see you say entry point is 100 ANON. From this, I can infer that there will be higher tiers (?). Do you have info on what the higher tiers will be? Thanks for posting about ANON. Your posts are very interesting, lots of good info
In my last article Fork- The correct way of forking I addressed a big question - how a fork should be conducted. In this article I will be covering 2 topics, Why transparency is important & how ANON's diverse team leads to a coin covering all aspects and angles ?
Google translates the word transparency in the following statement- a situation in which business and financial activities are done in an open way without secrets, so that people can trust that they are fair and honest. However in lay mans term transparency can be described as the ability to see through things. Transparency in cryptocurrencies is at an ever growing demand. People now expect a project to be transparent and then only get involved in something. Having a transparent project is not only good for the supporters but also good for the team, this way they can track their progress in real time and they get motivated to finish all their work before the deadlines.
Why transparency is important?
Transparency is key in any project specially when we are talking about a Cryptocurrency, Recently a alot of bad and failed projects have created a negative image of cryptocurrencies. Some failed ICO’s have also caused a lot of damage to the reputation of an industry which has been under scrutiny since the very start. Main cause and problem from these projects has been the lack of transparency. These projects are made and finished behind closed doors and often keep people out of the development process. This hampers the success of a project greatly. The need of transparency on today’s cryptocurrency world is a lot. Transparency not only helps in building the trust of the community but also creates a loyal fan base for a certain project.
ANON has been transparent since the very start of the project, each and every step is clearly discussed and the supporters are updated after every step taken by the team. Often polls are conducted and a lot of questions are asked from the supporters and implementation is done. The team believes that our spending habits should be private, which is very true they should not be released to anyone however the forking process needs to be transparent to the public and easily understood by each and every one.
How ANON's diverse team leads to a coin covering all aspects and angles ?
Anon’s team is full of important and influential people. A lot of cryptocurrency Enthusiasts, developers and advisors are a part of this team. People like Jake Greenbaum, Sam Abbassi, Shaurya Malwa, Ran Neuner & Lee Jang Woo are great personalities who are a part of this project. Anon’s team is highly diverse in terms of geography as well as the work each and every member does. They have people from Asia, Europe & America. They have marketing people, code developers, advisors and cryptocurrency experts.
The ANON team has divided work throughout their team, from attending crypo conferences worldwide, to social media interaction and code development. Each and every member of this team has a crucial role to play for the development and success of this project. All the aspects in any project can only be covered by having a diverse team which ANON surely does. Experience is also a key in creating a successful project, with having experienced individuals onboard a team is less likely to fail and gain a lot. ANON till now has been delivering to its supporters this has only been possible because of having a diverse team. Having different people onboard covers almost all the angles and aspect for the project.
With following a strict regime about transparency and having a diverse team the ANON project is creating an example for the upcoming teams and forks.
You can visit the ANON website at www.anonymousbitcoin.io
In my last article ANON- A new kid on the block I addressed a very important question- why to invest in ZCL and ANON. In this article I will be talking about How ANON is Changing the way forks are conducted.
Forks can either be planned for and guided by the core development team of a project or be initiated by a group of developers dissatisfied with an element of an existing project. The ANON team are the latter ones, they will be forking or in lay mans terms combining the best technologies of 2 existing blockchains - Bitcoin & Zclassic and forming a third and a completely new coin "ANON". This fork between ZCL and BTC will be rewarding the holders of these two or either coin with ANON in a 1:1 ratio.
Jake Greenbaum the founder of ANON, while announcing the project clearly mentioned that he had learnt from all the previous forks, successful ones like BitcoinCash and even from the unsuccessful ones like BitcoinPrivate. He very closely followed all these forks and was committed to the fact that he will not be repeating the same mistakes done in the past and till now this has been the case with ANON.So lets discuss about the main question, How is ANON changing the way forks are conducted.
The biggest factor here for ANON is transparency. They plan to release videos, pictures and important updates on almost a daily basis to show the progress of this project. This not only shows the legitimacy of this project but also attracts more people to this. Previous forks were usually conducted behind closed doors, the supporters had no idea on what was being done until they directly saw the final product, which may or may not have been appreciated by them. Anon on the other hand is doing each and everything in the most transparent possible manner. Conducting a fork between 2 coins is not an easy task, it involves a lot of things like coding, testing, blockchain integration etc. all of these things need to be taken care by the team which is being done really nicely by this ANON team.
The team is following a strict and proper way to conduct each and everything as of 10th August 2018, no deadline has been missed by the team and they are hoping to keep this up until the fork is completed on 10th September 2018. However hard work is also necessary in order to make a fork successful. The development team has been working tirelessly to meet all the deadlines.
Another question to adderss here is Why another fork?
Another fork was important to overcome what the previous one couldn’t. Bitcoin and Zclassic are 2 currencies with powerful blockchains, with excellence in privacy and security. This attracted the team to fork these 2 coins again.
Anon is showing the world how to actually conduct a fork, the proper functioning of a team and the impact of the community. The success of a project depends upon the swift working through of a fork. The ANON team is setting an example for the future teams on what to do and how to do. With all these procedures taking place in a fluid manner I am 100% sure that this fork will be a successful one and it will come on top and set an example for future teams.
You can visit the ANON website at www.anonymousbitcoin.io
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