Garbage Collection

The mechanism of garbage collecting was recently introduced in our server-side sofware. It’s simple: the node automatically removes all empty wallets, which are older than 10 days. What is the purpose of this process and what are its possible negative consequences? There are some, let me show you.

Stress Tests

It was promised earlier that Zold cryptocurrency is way faster than any other Blockchain-based solution can even dream of. We claimed that a million transactions per second is not the limit. Theoretically it’s true, because there is no centralized ledger in Zold. Each node maintains its own list of wallets. Thus, the bigger the number of nodes, the faster the network. We created a simple tool to prove our claims.

Mining on Mobile Phones

Proof-of-Work is the core principle behind many blockchains, including Bitcoin and Ethereum. The idea behind it is simple: a node, in order to win the game and earn something, has to compete with all other nodes. There is only one thing that guarantees success in the competition: its CPU power. The faster and more expensive the computer, the higher the chances that it will find the nonce for the next block.

Why Score Is Not Stable

Each Zold node has a score that reflects the amount of CPU power it managed to invest into the system. It is expected that the longer the node is online, the larger the score. However, this is not the case, because the score expires in 24 hours and has to be re-calculated again. Here is a quick summary of how exactly score farming works.

Response Time is Crucial

We’ve been having technical issues recently and they all were caused by one serious problem—our nodes were not responsive enough. This literally means that they were not responding to HTTP requests as fast as it would be required for the network to function correctly. Why response time is important and what happens when nodes get slow? Here is my post-mortem analysys. Yes, the problem is gone and now it’s time to analyze why the speed of data delivery is so crucial for Zold.

Hosting Bonuses

As you know from the White Paper, each wallet has to pay taxes to some network nodes in order to stay alive. The taxes those nodes collect is the incentive for their owners to keep servers online. In other cryptocurrencies this mechanism is called mining, we call it taxes. However, while the network is still young, the amount of taxes we can collect is way smaller than what server owners pay for the hardware and electricity. That’s why, to incentivize them, we pay hosting bonuses, on top of taxes.

What Blockchain Is And What It Is Not

Blockchain, obviously, is a hot market trend. Every single person I’ve met over the last few months has had a business plan somewhere in the area of cryptocurrencies and, of course, Blockchain. Very few of them, when I’ve been asking “Why Blockchain?” were capable of giving any reasonable answer. The savviest ones have been saying that it’s a very reliable and immutable database. Others just claimed that “It’s the future!”