Bitcoin, the first cryptocurrency, was designed with a mining mechanism, which technically is an ability to create new digital coins every day by making some calculations. Thanks to this mechanism the largest holders of BTC coins are the ones who were doing those calculations long time ago, when the cost of mining was much lower. Bitcoin adepts believe that this is the most fair principle, since the distribution of digital assets is not centralized—anyone can become a holder of new coins, just by purchasing the necessary equipment and doing the hard work of mining.

The most important problem any decentralized digital payment system has to solve is known as double-spending. Just like Blockchain, Zold may also become a victim of such an attack or maybe even a technical mistake without evil intentions. What technically may happen is that two different nodes present two different versions of the same wallet, sending zolds in two different directions. How Zold deals with this?

We’re glad to share great news. Zold, an alternative non-Blockchain cryptocurrency, which we started to develop in February 2018, was listed by the first crypto exchange: AlterDice. ZLD is traded against BTC, USD, and ETH and its price is 0.0002704 BTC at the moment. Let me tell you a short story of how we managed to get there and what it took to connect Zold to their software platform.

As you know, there is no Blockchain in Zold. However, just like Bitcoin and its clones, Zold also guarantees immutability of its data, up to a certain limit. How exactly does it work? There is a consensus protocol, which makes sure the majority of nodes wins when double spending data conflict shows up. Here is how it works, on a more technical level.

Keygap, as you know, is a small piece of text extracted from your private RSA key in order to prevent your money loss in case of our database is stolen. You get the Keygap when you register your account with WTS or any other client of the WTS, like a mobile wallet. What if you lose it? Can you restore the access to your wallet somehow? Not really.

Your online shop, a mobile app, or a crypto exchange may accept or send zolds to your customers, via our hosted web API. Of course, you can implement it all yourself, without the API, but we made it for you, to make your life easier. Here are the step-by-step instructions. You can also use our SDK, if your programming language is Ruby or Java. Otherwise, just work via the RESTful API and you will be fine, it’s not so difficult.

The biggest problem of any decentralized payment processing system, also known as cryptocurrency, is the problem of double spending: when someone sends two payments from the same origin to two different destinations, delivering the data to two different servers. When the information will have to be synchronized at some point, there will be a conflict, which will have to be resolved, and consensus will have to be found. Zold is no different, however…

In the previous blog post I explained how you can get rich via Zold investments. That was our plan for short-term investors, who are basically willing to lend us money and get away with a decent profit in a few months. There is yet another possibility to help us and become rich together with us—by making long-term strategic investments into shares of stock of Zerocracy.