“Introduction to zSCU and Coin Staking”

Neyamul HadiBlog

Securypto Blockchain is based on the PIVX using zPOS (Zerocoin Protocol). Because of this Masternodes and Staking are an essential part of Securypto blockchain while it also helps to maintain user’s privacy. As Securypto blockchain is based on the PIVX using zPOS, there are few things that are new and unknown to many people such as what is zSCU and the use of zSCU. Let’s take a look at them more deeply and descriptively.

What is zSCU?

SCU is the coin of Securypto blockchain and zSCU is also a part of the same network. Technically zSCU is a state of SCU coin which is anonymous and untraceable. One can switch from SCU to zSCU, on one to one basis, to remain anonymous when desired.

Is it possible to Transact zSCU?

Yes and that’s the main role of zSCU. You can send and receive zSCU completely anonymously. When transacting using zSCU, the receiver won’t be able to track them back to you as on the blockchain it appears as freshly minted coins. It will have no history, no information and there won’t be any sender.

When sending zSCU to someone the receiver will always receive SCU and it will be the equivalent amount of zSCU that was sent.

What is Staking?

In a Proof of Stake network, on which Securypto is based on, transaction blocks produced that are produced by the network are validated by users like you and other people. For this reason, the wallet needs to be online 24/7 online, connected to the internet and running.

When the network needs a new block to be validated, the network chooses a random wallet and then reward the wallet for its work in SCU. This is how Staking works and how one can earn from staking.

How Safe is Staking?

For the staking to work, one needs to keep the wallet unlock and open. Before starting to stake, encrypting the wallet is necessary. If the wallet is encrypted, it is completely safe to Stake with the wallet open as when trying to transact, it will require the encryption password.

Why Stake zSCU instead of SCU?

There are two main reasons to opt for zSCU when staking:

Privacy: zSCU Coin is completely anonymous and untraceable. Likewise, when staking, the process is anonymous too
Higher Earning: When staking zSCU the rewards are higher than when staking SCU as zSCU stakers are rewarded with 3 SCU per validated block where SCU stakers get 2 SCU per validated block.

Is It Possible to Stake Both?

Yes, it’s possible to stake both SCU and zSCU. When staking is enabled, both SCU and zSCU balance will be earning rewards.

Does Staking zSCU Reward Me With zSCU?

Yes, zSCU staking reward will be paid in zSCU anonymously.

How to Convert SCU to zSCU?

SCU to zSCU can be converted in 2 ways:

Manually: You can convert your current SCU balance to zSCU by going to your wallet Privacy Tab, selecting the quantity and by pressing the “Mint Zerocoin” button.
Automatically: It is possible to change the setting to automatically convert all your future received SCU to zSCU. However, if desired, converting percentage can be reduced to your preferred number.

To turn on or off Auto Minting, start the wallet, go to tool to option. There you can turn on or turn off the auto minting process.

Is It Possible to Convert zSCU to SCU?

Yes, it’s very much possible and the process is very simple. First, open the wallet, go to Send Tab. After that, select the quantity of zSCU you would like to convert to SCU, put your own wallet address in the receiver line and press “Spend Zerocoin” button. After a few minutes you should be receiving the exact amount of zSCU you sent in SCU in your wallet.

What is the Option For “Preferred Denomination” about?

Unlike SCU, which can exist in small fraction amount like 0.002, zSCU can only exist in certain whole denomination such as 1,3,7 etc. In the wallet settings, you can set the smallest denomination you want to hold in your wallet. Changes in this setting will influence the reward you receive for staking.

When the network is looking for a new wallet to validate a block, the wallet with a larger denomination has a higher chance to be chosen for staking reward than a smaller denomination. However, once an “input” has been chosen for a staking reward, it doesn’t become available again for 220 blocks.

For example, if you hold 5k SCU and chose 5000, you will have 5k input available for staking. This would have the highest chance to be selected but once selected, you would have to wait for 220 blocks to be eligible again. On the other side, if you choose your input 1000, you would have five inputs available for staking. But this would have slightly less chance to be selected than the 5000 input. If one of five inputs gets selected, you would still have for available for rewards.

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