Zold Is Not Minable

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.

There are many other cryptocurrencies, followers of Bitcoin, which don’t allow anyone to create new coins, but instead make it possible to acquire them only by purchasing from someone who already owns them. For example, Ripple, Cardano, Stellar, EOS, NEO, Loki and many others. Actually, the majority of modern cryptocurrencies are pre-mined.

Even though technically they are decentralized, meaning that anyone can have a server with a database and participate in the consensus protocol to validate and approve transactions, ecomonically and business-wise they are perfectly centralized: They don’t allow strangers to become owners of their coins, unless they invest real money into it.

Again, when a crypto coin is pre-mined, it only means that initial acquisition may happen only through an exchange with an existing owner. Right after that all cryptocurrencies are the same: their coins can be acquired only by an exchange with existing holders.

Zold, unlike Bitcoin, is pre-mined. Nobody can create new coins. The only possible way to acquire them is to purchase them. Where? Either from Zold founders (here) or on an exchange, from an existing owner of Zold coins.

Why did we decide to make it this way? You may watch this and this videos, they explain.