INTRODUCTION
In the world of crypto coins, an asset is a term that refers to any cryptocurrency. Even though they are used as money, they have other applications beyond payment. In fact, the classical definition and utility of a currency concept fall short when talking about cryptocurrencies. This is because, while Bitcoin, for example, can be used to buy water, you can also use it to acquire other coins which may hold intrinsic value. University of New South Wales, Usman W. Chohan explained on his paper,
Dr Chohan explains that a crypto asset exists in a dimension that is not physical and can only exist in a digital form. Furthermore, the value is derived from supply and demand forces instead of outside intervention, while offering the utmost privacy.
Cryptocurrency (Cryptographic Currency) is the term used to describe digital currencies which utilizes Cryptography to secure their payment networks and transactions.
The term ‘Cryptography’ is a derivative of two Greek words ‘Kryptos’ and ‘Graphein’, which literally translates into ‘Secret’ and ‘Writings’. The process of encrypting words and numbers has continued for thousands of years and today, the process is often done digitally.
Any digital currency with a blockchain – a public ledger which records all transactions publicly – which uses* ‘cryptography’* to encrypt recordings can be referred to as Cryptocurrency. Bitcoin, Ethereum, Litecoin, Dash, Monero, Ripple, Steem all fall under the category of cryptocurrencies.
Many get confused between what a digital currency is and what a cryptocurrency is… to be it simple, all cryptocurrencies fall under the category of digital currency. PayPal, virtual game money, and even loyalty points on a platform can be considered as a digital currency. Think of digital currency as the main category and cryptocurrency as the child (sub-category) of digital currency.
All cryptocurrencies utilize what’s known as the ‘blockchain’. It is a network of various different computers working together to record and confirm transactions. To put it simple, think of it as a ‘magic book’ in which few thousands of people have. This ‘magic book’, once edited, requires everyone who has the book to ‘confirm’ these changes so that the ‘edit’ can be verified. In the case of cryptocurrencies, this ‘edit’ is ‘transactions’.
Because it is a peer-to-peer collaborative network, the transactions are also strictly peer-to-peer. Hence, the reason why most cryptocurrencies do not have a ‘central authority’ which governs and controls the currencies. Hence, the reason why cryptocurrencies are deemed as the most democratic currencies we currently have.
There are over 800 different cryptocurrencies currently available on the market (according to Coin Market Cap: a platform where cryptocurrencies are ranked based on their total market volume). Certainly, Bitcoin is the most popular amongst these currencies as it is the pioneer, the first ever cryptocurrency to be created. This is followed by Ethereum, Ripple, and so on.
Crypto assets work exclusively on the internet by using a network of computers that lend their processing power to verify and register all the transactions made. In return for their work, computers are rewarded with a payment in the form of tokens. The system that allows for this to happen is known as the blockchain, and it is the fundamental force behind any crypto asset.
Sunny Kin and Scott Nadal talked about how the blockchain keeps everything secure and public in their paper, PPCoin: Peer-to-Peer Crypto-Currency with Proof-of-Stake. The two men explain that the blockchain form by blocks and each block is a segment of the chain that holds the register of any transaction made with crypto assets. It is then reviewed and stored in the system which allows for more blocks to be found and used. It is this process that allows for privacy and security to be maintained at all times.
According to the purpose or fixed design of this article, Today! We will be discussing or analysing about a particular amazing project called: GIGZI
WHAT IS GIGZI?
Gigzi is a modern financial system that tackles the three challenges of cryptocurrency investments: hyper-volatility, account security and wealth diminishment. By offering tokenised metals protected by iris recognition, Gigzi users can securely manage wealth with crypto-assets pegged to stable precious metals and also earn rewards.
The Ethereum Community has completed the security audit of the Gigzi Smart Contract, which is set for deployment in time for our crowdsale beginning November 2018.
Gigzi protects users against the unpredictability of market fluctuations. Introducing a reliable standard of measure, enabling commerce in tokenised precious metals. Gigzi utilises impenetrable iris recognition technology for account access control, through an exclusive partnership with the world leading biometric security company. Gigzi will enable users to protect private keys and instead gain access with the unique configuration of their iris. By backing crypto-assets with pure, unfabricated precious metals that are redeemable on demand. Metal is sourced exclusively from a world-renowned mint with all investments guaranteed under law. Gigzi prevents wealth diminishment.
GIGZI ECOSYSTEM
The Gigzi ecosystem is formed of decentralised crypto-assets - Gigzi Black (GZB) and Gigzi Metal, comprising Gigzi Platinum (GZP), Gold (GZG) and Silver (GZS) - that are supported by three core applications; a Wallet secured by iris recognition technology, an Exchange and a Treasury.
Gigzi Black (GZB) is backed by market confidence. It is distinctive in its Gold Rewards programme, whereby, users holding Gigzi Black at the end of a reward cycle are paid Gigzi Gold crypto-assets. This ensures users are invested in the Gigzi ecosystem and share in its success.
Gigzi Metal is stable and secure; this is achieved by anchoring the price to precious metal. 1 Gigzi Metal is equal to 1 gram of its respective precious metal. The tokenisation of precious metals by Gigzi provides users with a stable asset in which to invest their wealth on the blockchain, as well as enabling users to hedge and limit exposure to the volatile cryptocurrency market. The world-renowned Perth Mint has been chosen to provide the precious metal that backs Gigzi Metal crypto-assets.
The Gigzi Wallet application supports major cryptocurrencies and enables users to easily manage funds stored on the blockchain. In conjunction with iris recognition technology, developed with IriTech - the world’s leading iris biometric security provider, the Wallet provides unrivalled account security.
Gigzi Exchange facilitates transactions and exchanges between Gigzi crypto-assets and any supported cryptocurrency or fiat money. This inter-operability is a significant feature of the Gigzi ecosystem. Gigzi Metal crypto-assets may be redeemed for gold or silver cast bars at the Gigzi Treasury.
Gigzi has been in development for over two years. Phases completed include system architecture design, Smart Contract development and formalisation of partnership with IriTech. Therefore, at the point of launch and crowd sale – Gigzi is only months away from delivering the full system architecture and functionality to its users.
Gigzi will change the way in which wealth is stored, traded and protected. It provides a complete and decentralised financial system; empowering users through financial independence and securit.
GIGZI FEATURES
- Stability:
By harnessing the relative constancy of precious metals, Gigzi protects users against the unpredictability of market fluctuations. Introducing a reliable standard of measure, enabling commerce in tokenised precious metals.
- Security:
Gigzi utilises impenetrable iris recognition technology for account access control, through an exclusive partnership with the world leading biometric security company. Gigzi will enable users to protect private keys and instead gain access with the unique configuration of their iris.
- Wealth protection:
By backing crypto-assets with pure, unfabricated precious metals that are redeemable on demand. Metal is sourced exclusively from a world-renowned mint with all investments guaranteed under law. Gigzi prevents wealth diminishment.
Gigzi is comprised of four crypto-assets that are both unique and complementary, they operate on a decentralised peer-to-peer network and are supported by three core applications: a Wallet, an Exchange and a Treasury. Together, they empower users to independently manage wealth.
GIGZI PROJECT ROADMAP
GIGZI TEAM AND ADVISORS BOARD
GIGZI ICO AND TOKEN ANALYSIS
Pre-sale Time:21 Sept 2018 - 21 Nov 2018
ICO Time: 23 Nov 2018 - 31 Dec 2018
Token Symbol <<>> GZB
PreICO Price <<>> 1 GZB = 0.0025 ETH
Price <<>> 1 GZB = 0.0025 ETH
Bonus <<>> Available
MVP/Prototype <<>> Available
Platform <<>> Ethereum
Accepting <<>> ETH
Soft cap <<>> 7000000 USD
Hard cap <<>> 24000000 USD
Country <<>> UK
Whitelist/KYC <<>> None
Restricted areas <<>> None
MY OPINION CONCERNING THIS PROJECT
In my own perspective, I can see GIGZI as an innovative, incomparable and undisputed project with a great vision and unique ambition to be the most smartest and respective projects in the nearest future all over the globe.
CONCLUSION:
Nowadays a lot of projects are being created in different countries, But not much of them with solid standard and good qualities as GIGZI does.
For more or further details, please! Kindly follow the links below:
WEBSITE: https://www.gigzi.com
WHITEPAPER: https://gigzi.com/whitepaper
ANN TREAD: https://bitcointalk.org/index.php?topic=5047392.0
BOUNTY TREAD: https://bitcointalk.org/index.php?topic=5055492.0
TELEGRAM: https://t.me/gigzicommunity
TWITTER: https://twitter.com/gigziofficial
FACEBOOK: https://www.facebook.com/gigziofficial
MEDIUM: https://medium.com/gigzi
REDDIT: https://www.reddit.com/r/Gigzi
LINKEDIN: https://www.linkedin.com/company/gigzi
•• BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=1907552;sa=summary
Great thanks to all my dear readers, you will be more appreciated if you can kindly send a recommendation to some friends and to all media across the globe. Thanks! for given your time.