1.2 System Reward Distribution
All traditional payment systems depend on a trust model that has a central authority providing a clearinghouse service, basically verifying and clearing all transactions. Zenith Coin has no central authority, yet somehow every full node has a complete copy of a public ledger that it can trust as the authoritative record. The blockchain is not created by a central authority but is assembled independently by every node in the network. Somehow, every node in the network acting on information transmitted across insecure network connections can arrive at the same conclusion and assemble a copy of the same public ledger as everyone else.
The blockchain protocol introduced a mechanism of making it expensive to copy digital values. A copy of the ledger is stored on multiple devices of a cryptographically secured P2P network. The ledger is also called a blockchain. It maintains a continuously growing list of transaction data records, chained in blocks that are cryptographically secured from tampering and revision. To change the contents of that ledger, network users need to reach a mutual agreement also referred to as consensus. Blockchain can therefore be described as a shared, trusted, public ledger of transactions that everyone can inspect but which no single user controls. The ledger is built as a linked list or chain of blocks where each block contains a certain number of transactions that were validated by the network in a given timespan. Each block furthermore includes the cryptographic hash of the prior block in the blockchain, linking one block with another into a chain of blocks, which guarantees the integrity of the previous block back to the first block, the genesis block. Since the ledger records transactions across many computers, data on the blockchain cannot be altered retroactively, without the alteration of all subsequent blocks. Proof of Work is the consensus mechanism that enables distributed control over the ledger. It is based on a combination of economic incentives and cryptography. This reward mechanism is designed to make it economically infeasible to cheat the network, taking into account even more 7 extreme attack scenarios.
Zenith Chain has an impressive system reward structure, and certain parameters may guide the distribution. The Zenith Chain system reward distribution is done using a decentralized peer-to-peer exchange network; a software-based platform that allows crypto market participants to trade directly with one another by eliminating any third-party involvement. With a decentralized exchange protocol, Zenith Chain does not store any coin or private keys on central servers. Funds are controlled by the user, compatibility with hardware wallets and with anonymous accounts.
In the Zenith Chain, decentralized network users can earn rewards from apps that offer points using blockchain technology. The rules that will guide the distribution of rewards on the Zenith Chain include:
- 1.The Zenith Chain Validators, block generators will receive a total of 0.9375 of the gas fee.
- 2.System reward contracts receive a total of 0.0625 of the gas fee.