An interview was held in New Orleans by The Crypto Show where the interviewer, Danny talks to Rob Viglione, Co-Founder of ZenCash and how it plans to help level the financial playing field with the assistance of their treasury and voting system.
Rob explains that before he entered Blockchain, he was pursuing his Ph.D. in financial economics and before that, he was a military officer.
He was asked to explain about Zencash and what he thinks money should be as far as freedom is considered. To this, he replied that he can choose what type of money he would like to use in digital currency based on the morality, unlike the U.S. dollar.
Also, the most fascinating thing they are doing is separating money from state and using money like an app. An app that has certain regulations and characteristics that can be compared and then the user can decide which works best for him or her.
Furthermore, the interviewer asked which of the projects that Zencash funds, have certain morality.
“A lot of bigger projects, we fund R&D and we do a lot of technical R&D. The voting system is one of these and I think the voting system is very important for censorship resistance, an equal opportunity for people to submit projects for work, funded to do work and contribute to the ecosystem.”
When asked if they were a master node system or how their voting system was different from others, Rob said “We do have something similar to master nodes, they are nodes that run for node to node encryption but they don’t vote. So actually voting is open to anyone who owns Zencash.”
Rob explained that even though the 51% attack was a minor threat, the severity was on brand value. People looked at this and thought they were insecure. It was actually a very small amount i.e. around half a million dollars in comparison to what’s worth billions.
When asked how it happened, he stated that “51% attack happened when the attacker sent a deposit to an exchange and once it was confirmed they traded that for some other cryptocurrency. And then they injected a sequence of blocks that reversed their initial deposit”.
He further added that they learned a lot from it and set their engineers to figure out how to fix this problem for the entire industry as it not that hard to fix. By making an adjustment to the longest chain roll and they feel that any other project will be able to use this Proof of Work.
Rob revealed that they will introduce a notarization scheme that uses stake base nodes and certain block intervals, which will notarize the chain and make it impossible to reverse and this would be a hybrid PoW and PoS system.
When asked about the most interesting project he had worked on, Rob said:
“Rebuilding our eco-system and trying to implore the community to get resources as much as possible, we do a lot of organic recycle activities so that’s where a lot of the effort goes and a lot of effort goes into the engineering side. We’re trying to make the product much more useful.”
Finally, the interviewer asked him what would be his advice for someone who wants to get to the basic level of cryptocurrencies.
Rob Viglione stated:
“The first thing to do is to get 5 dollar worth of Bitcoin, put it on a wallet and figure out how it works and do some test transactions to get really a feel from it and then go online and try to buy something with it so just really walk yourself through this coz there’s a ton of tutorials online.”
The post ZenCash [ZEN] Co-founder Interviewed: “Morality” in cryptocurrency appeared first on AMBCrypto.