Blockchain solutions
Nowadays when the amount and availability of coins, especially tokens, is unlimited the real differences between them are clearly visible when their usefulness is tested. The problem is even more pronounced when a safe and anonymous space is taken into consideration as the most important factor ensuring the usefulness and accessibility of tokens. In the era of constant surveillance and eavesdropping, protection of security and privacy is priceless. Therefore, we have undertaken the creation of a new coin aimed at ensuring anonymity as an overarching goal and benefit from this anonymity. This is one of the reasons why we decided to go back to the origin of the coin we are forking. Simply, our goal is to create a platform acceptable level of anonymity for everyone. Gemlink – is a new cryptocurrency based on Zcash and indirectly on Tent (former Snowgem Coin). We do hope that the new platform will combine the possibilities of anonymity and privacy Gemlink coin with the token market. The planned platform is designed to allow easy and transparent transfers of funds, make payments for services, convert tokens into gemlink and vice versa, send documents and files, but also create and provide the project with an appropriate level of security and anonymity.
Privacy
Gemlink is one of the currencies that ensure the anonymity of transactions, so it is worth considering your investment if privacy is particularly important to you.
The most important part of this solution is the advanced encryption algorithm, i.e. zk – SNARK. It allows the correctness of the information to be stated without the need to disclose it. The transaction data is validated, but both the sender, recipient and the transaction amount remain completely anonymous. Of course, there is also the option of having transparent trading deals if you don’t want complete privacy. The primary advantage of Gemlink is without a doubt that you can make completely anonymous transactions. Neither the sender nor the recipient can be identified. Gemlink also does not store information about users’ keys, which means that your data as the owner is subject to greater protection. Security is also enhanced by the fact that it is impossible to know in which previous transactions a given coin has been used.
Masternodes
Masternodes were added to SnowGem by Txid in May 2018. The role of Masternodes is to authorized and to store a copy of the blockchain as well as to maximalize data dispertion and verification of transactions.It is obvious that the more authorizing nodes, the better the security of the network is. Maintenance cost of masternodes is on user side but Gemlink pay back for maintenance using Gemlink coin.
Masternodes support the network by contacting other nodes of Gemlink network by news propagation of the current state of the network and blockchain. The created masternodes will ultimately be integrated into one system to make the masternodes generation as easy as possible.
You must have 20,000 Gemlinks coins locked to run the masternode. This amount cannot be spent and is seen in the wallet as a blocked amount. As a reward, the percentage of the reward will be paid out of the value of half of the newly created block.
Block number | MN 100 pcs | MN 250 pcs | MN 500 pcs | MN 1000 pcs | MN 1500 pcs | |
|---|---|---|---|---|---|---|
Projected annual return | Less than 2102400 blocks after fork | 388,00% | 155,00% | 77,00%
| 38,00%
| 25,00%
|
Projected annual return | 2102400 blocks after fork (about 4 years) | 194,00% | 77,00% | 38,00% | 20,00% | 12,00% |
Projected annual return
| 4204800 blocks after fork (about 4 years) | 97,00% | 38,00% | 19,00% | 9,00% | 6,00% |
Total allocated coins
| Total allocated coins | 2 mil | 5 mil | 10 mil | 20 mil | 30 mil |
Mining
What does mining look like with Gemlink? Gemlink uses the Equihash 144_5, pers: sngemPoW cryptographic algorithm which does not allow ASIC mining. Most often, the process is carried out using excavators with graphics cards. The average block time is 1 minute and the reward is 30 Gemlink. However, you need to remember that each reward is 15 Gemlink for masternode service, 6 Gemlink for the Development Fund, the reward is currently 9 Gemlink for the miner. Reward every four years is reduced by half.
You can currently mine Gemlink from 19.02.2022 on selected pools:
51% attack protection
There have been several 51% double-spend attacks in the crypto space during the last few years. Thanks to a fork from Snowgem, Gemlink is equipped with tools like Thor’s Hammer. If You are interested in more details. A great article was written by Hugo Zupan about Thor’s Hammer system.
more info: https://medium.com/@hugozupan/thor-s-hammer-51-attack-solution-1c35ba84129e
Voting system
Voting system operates through masternodes and our goal is to make the system work more actively. The community focused around Gemlink should have a possibility to share their vision of Gemlink development. The voting system will provide possibility for the users to take part in matter-of fact discussion on a given problem. This service Gemlink inherited it from Snowgem Coin.