ICOs have become a matter of trial and error. Every now and then, we hear of new ICOs. Different developers have different ideas and some are irresistible. We are forced to join some of these planned innovations and what we realize in the end is that the developers are not able to put even a block of the innovations/ideas on their whitepapers into practice.
Zeepin chain was made for everyone in the creative industries by converting creative resources into digital assets. With zeepin, the issues with middlemen are out as it cuts out this line of communication and directly offers communication, a continuous incentivized mechanism and a secured and efficient investment environment to the user. All these will be securely transacted and shared on the zeepin chain to help minimize the risks of cheating.
This innovation by zeepin to launch a borderless and transparent new economy will be supported by its own digital currency, ZPT. Using ZPT tokens for transaction, all members will be able to copyright, authorize, insure, connect, crowdfund and launch exciting projects with a complete suite of dAPPS. Their creative assets will be protected by these zeepin dAPPS.
Same NEO and Ontology, Zeepin has a 2-token economic model. While its main token ZPT is the native token, GALA is the fuel for the ecosystem. To increase one’s amount of GALA tokens, one can also play Zeepin’s blockchain powered game, CryptoGalaxy and earn rewards (GALA). CryptoGalaxy, a virtual universe powered by blockchain, is also an entertainment dAPP that will run under the Zeepin Chain. In Cryptogalaxy you can purchase a planet and will be able to generate GALA. Zeepin will reward cryptogalaxy users who hold ZPT in their wallets.
More about cryptogalaxy can be found here
In Zeepin’s former plan for the ecosystem development, a two-chain structure was planned because of the need to deal with token and digital asset transactions. Just recently, zeepin announced the decision to combine the two chains into one public chain leading to the zeepin public chain
Zeepin Chain Mainnet Launch, the real tech into practice…
Unlike many projects which boast of high technological know-how but do nothing after crwodsale, zeepin, which has the ZPT token already traded on Kucoin, Lbank, gate.io, HitBTC has made one of the most important updates by announcing the launch of their mainnet date.
>Zeepin Chain Mainnet will be will be launching on Aug 31. This is also when we’ll be completing the mapping of ZPT and Gala. Zeepin’s Ecosystem Yellowpaper will be released before that date. The process of the token swap and instructions will be provided in the days to come. Zeepin Chain technical whitepaper will also be published during this week. Stay tuned for more details.
Similar to the cloud storage idea, zeepin team has created a storage network known as the galacloud using dAPP to be the main storage system for the zeepin chain. What makes it different from the existing cloud storage networks is that it not centralized as many cloud storage suppliers are. More the advantages are listed below
- Distributed autonomous
- Mining revenue
- Attack proof
- App syn
- Distributed storage
Two major components of galacloud include galabox and galahub.
GalaBox mainly focuses mining and storage.
Each GalaBox is a data node that obtains Gala rewards distributed through smart contracts. The GalaBox machine for distributed encryption storage can be acquired through crowdfunding, scheduled on ZeeFund.
These are nodes in Galacloud which helps in the searching of addresses in a way to collaborate all galaboxes. After collaborates, it also does the work of a dispatcher.
How the whole Gala ecosystem works
To store files in galacloud, the user will have to pay gala. Weekly distribution which is 20% of total revenue will be issued to galahub nodes.
70% of galacloud revenue will be distributed to galabox nodes every week.
In addition, Zeepin foundation will compensate miners with gala in the first year.
ZPT holder locks ZPT for 18 months. This makes the user eligible for a galabox.
Scheduled phases to get free galaboxes are, 16th to 20th August and 21st to 25th August.
The galabox crowdfunding is not like we see in our day to day ICOs. Users must lock 400,000ZPT for 18 months. A total amount of 49 nodes will be selected.
Selected people enter in the eligibility zone to get a high ROI. Every week, eligible users are evenly paid 20% of the total revenue.
EXCHANGES: Kucoin, Lbank, gate.io, HitBTC
Disclaimer: Part of the article group.