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EtherZero, a New Ethereum Hard Fork on 19 jan

Image result for eth hard forkEthereum fork as developers look to bring forward projects forked from the Ethereum blockchain. We take a look at EtherZero (ETZ), a project set to launch this week on January 19.


No Fee Instant Payments

The team behind EtherZero are offering their solution to Ethereum’s issues regarding scaling and fees, the network has become clogged recently after the advent of Crypto Kitties and a surge in ICO investing that is taking place on the platform. EtherZero plans to facilitate the building of Dapps on their platform and provide a network that is fee free, with instant payments and thousands of TPS processing speed. The key features of the project include:


  • Instant payments with zero transaction fees
  • DAPP development and operation
  • Autonomous community governance system
  • Highly scalable, two layer network system
  • Masternode system
The EtherZero website states that the team aims to grow ETZ’s market value to 10% of the price of Ethereum in the short term. In addition, The ETZ masternode system will require 10 thousand ETZ, with 45% of the network’s rewards going to miners, 45% to the masternodes, and 10% to the self-governing communities.
The team behind the project are still a mystery; however, their site claims that the EtherZero team is made up of 20 people, many of whom are located in different countries.
The team behind the project have laid out a roadmap which covers the next 12 months. Highlights include:
  • January 2018, the project forks from the Ethernet network.
  • February 2018, EtherZero will complete issuing their online wallet.
  • March 2018, the mobile wallet and the DApp application store will be released.
  • Q1/Q2 2018, the Masternode system will be implemented on Testnet.
  • Q4 2018, the Masternode system will go live.
Fork height: 4936270 block
Time: Jan 19th 2018 GMT 19:00-21:00
Allocation: Circulating supply of 116 million ETZ -Total Supply of 194 million ETZ 2MB Block Size, PoW Consensus Mechanism, and Replay Protection enabled
Every 1 ETH represents 1 ETZ
Approximately 20 million ETZ held in reserve for subsequent development
6 million ETZ will be released per year (about 5% inflation and declining year by year)
There is little information circulating regarding which exchanges will be supporting this fork. However, as a fork of the Ethereum blockchain, ETZ will be compatible will Ethereum wallets such as Metamask, MyEtherWallet, imToken, Trezor, and Ledger.

The Road Ahead

The team behind the project have laid out a roadmap which covers the next 12 months. Highlights include:
  • January 2018, the project forks from the Ethernet network.
  • February 2018, EtherZero will complete issuing their online wallet.
  • March 2018, the mobile wallet and the DApp application store will be released.
  • Q1/Q2 2018, the Masternode system will be implemented on Testnet.
  • Q4 2018, the Masternode system will go live.

Specifications

Fork height: 4936270 block
Time: Jan 19th 2018 GMT 19:00-21:00
Allocation: Circulating supply of 116 million ETZ -Total Supply of 194 million ETZ 2MB Block Size, PoW Consensus Mechanism, and Replay Protection enabled
Every 1 ETH represents 1 ETZ
Approximately 20 million ETZ held in reserve for subsequent development
6 million ETZ will be released per year (about 5% inflation and declining year by year)
There is little information circulating regarding which exchanges will be supporting this fork. However, as a fork of the Ethereum blockchain, ETZ will be compatible will Ethereum wallets such as Metamask, MyEtherWallet, imToken, Trezor, and Ledger.

Source:-Coindesk

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