PZM Cash – an Innovative, Technologically Advanced and Transparent System

Place/Date: Barcelona, Spain - April 14th, 2020 at 6:11 pm UTC · 3 min read
Contact: PZM Cash, Source: PZM Cash

PZM Cash is a cryptocurrency created as a means of payment for a fast-growing ecosystem, where the emphasis is on the growing scaling and balancing of money supply and demand.

How does the PZM Cash System Stand Out?

PZM Cash uses a two-level node structure:

A full node is a device with installed PZM Cash software, which stores the full current and current version of the blockchain. A full node can act as a consensus node. The holder of a full node can actively participate in the formation of the blockchain, constantly grouping incoming transactions into blocks and distributing them over the network.

A full node also acts as an audit node. In this context, a node regularly checks the results of forging other nodes and distributes the load across the network, acting as a kind of content delivery network for blockchain data.

The second type of node is “light clients”. They contain only important data for the node. This saves memory on HDD and processing power. That is why they are a good option for organizing a dedicated cryptocurrency wallet.

PZM Cash Rewards

Another distinguishing feature of PZM Cash from other cryptocurrencies is that users of the light PZM Cash client can receive rewards for supporting the ecosystem! The PZM mining PoS algorithm provides a stable flow of new coins to the balance of “light” wallets.

The reward in PZM Cash consists of two parts:

  • commissions from the total amount of transactions that are included in the block (here some implement the ability to set a higher commission in their transaction so that the miner has an incentive to add a transaction to the block he forms)
  • fixed remuneration for the block (for mining). A fixed block reward may decrease over time, for example, how bitcoin halving works.

Distinctive features of PoS in the PZM Cash system

  • The chances of adding a new block depend on the number of coins in the account (forging balance).
  • The age of the coin does not affect the amount of reward for adding a block.
  • The forging balance is the coins that the user has: static on the wallet for a certain period of time (coins were not involved in transactions, including unconfirmed ones).
  • The amount of the commission fee is 0.5% of the number of transactions and is fixed. The participant who added the block is paid 0.5% of the total amount of all transactions included in the block.
  • No other forging payments are provided.

Innovative Solutions

The implementation of PZM Cash in JavaScript has enabled the use of Web3.js technology.

Web3.js is a collection of JavaScript libraries that allows you to remotely interact with a node through an HTTP or IPC connection, which simplifies PZM Cash Wallet integration through a dedicated API. As a result, partners do not need to deploy a full node for integration.

Web3.js will significantly expand the functionality and capabilities of the PZM Cash Wallet due to unification. Users will be able to log into sites and services through a wallet without registration, where cryptocurrency is used as payment.

The sale of PZM cash coins began on April 6, 2020. Do not miss your chance to participate!