For early adopters of the Zeepin network, there are a number of exciting developments on the horizon and opportunities to cash in.
The Zeepin community is looking forward to the launch of the project’s mainnet, scheduled to go live on 31st August. Since its inception, the network has been running on the NEO blockchain. In April this year, it successfully launched the Zeepin chain testnet and is now set to update to its own public blockchain.
Originally, the network had planned to implement a dual-chain model. One was to operate as a consortium chain for business transactions while the second one would be a public chain for token transaction. But the functions of the two have now been integrated on the single chain, Zeepin chain.
According to results from testnet operations which have been going on for at least four months, the chain is capable of handling 4,000 to 5,000 transactions per second (TPS). As such, it has what it takes to support both token transactions and decentralized app (DApp) operations. Having a single chain will allow the developer team to concentrate on its maintenance and improvements.
Galaxy Byzantine Fault Tolerant-POS (GBFT-POS) is the consensus mechanism for Zeepin Chain. Derived from Ontology’s VBFT algorithm, the mechanism makes use of the OCE consensus mechanism. Built upon the Galaxy Alliance, the algorithm comprises digital planets as democratic autonomies. One of its elementary components is GalaCloud.
What is GalaCloud?
GalaCloud is a storage network initiated by the Zeepin Foundation, built on a distributed framework to offer autonomous encryption. Its storage system comprises a combination of GalaHub nodes and GalaBox nodes. GalaHub nodes will have the role of providing distributed storage services on GalaCloud. File storage will require the use of Gala tokens, from which 20% of the revenues will be paid to GalaHub nodes every week.
GalaBox on the other hand refers to a data node that gets Gala token rewards in exchange for hard disk space contributions. 70% of GalaCloud revenues will be distributed weekly to GalaHub nodes. The mining machines that will facilitate distribution of encrypted storage will be made available through a crowdfunding event.
GalaHub Node Selection
GalaCloud is planning to recruit 49 GalaHub nodes, in a selection process that will run from 8th August to 25th August, 2018. ZPT token holders who wish to participate simply need to mortgage a minimum of 400,000 ZPT on the participation page and indicate the region where it will offer services. Every participant who makes it to the top 49 will qualify to join the pool. The ZPT mortgage amount will go into lock-up for a period of 18 months. During the first year, GalaHub nodes will in turn get high compensation rates of up to ten times their mortgage level, distributed every week. This will be a significantly high return on investment (ROI) as compared to the 18-month lock-up period.
GalaBox Crowdfunding Campaign
The second backbone of GalaCloud is the GalaBox crowdfunding campaign. As highlighted above, GalaBoxes are encrypted storage devices that store data from the network’s users in form of shards. They are distributed for free to early adopters in the network who are willing to lock their ZPT tokens for 18 months.
During the first stage of crowdfunding, the team will distribute a total of 10,000 GalaBoxes. The early bird offer for GalaBoxes was slated for 8th August from 10PM GMT+8. For a 24-hour period participants only needed to lock up 4,999 ZPTs for a GalaBox. There are three more distribution phases:
- 12th to 15th August – Price: 5,250 ZPTs
- 16th to 20th August – Price: 5,500 ZPTs
- 21st to 25th August – Price: 5,750 ZPTs
Another opportunity to enjoy passive income from the Zeepin project is through CryptoGalaxy. CryptoGalaxy refers to a virtual universe based on blockchain technology, built as a decentralized entertainment app on the Zeepin blockchain. On this framework, players get to purchase planets, explore them and dig for minerals, which they can then convert into Gala tokens.
Every week, 40 planets are released and are usually sold out in a matter of seconds. The dApp is available for both Android and iOS devices. At the moment, Gala is not yet listed on exchanges and exchanging minerals for the tokens is the most popular way of getting them.
However, CryptoGalaxy users can also get the tokens by holding ZPT on CryptoGalaxy in exchange for a daily deposit of 150 Gala.
Get in While You Can!
Considering the innovative opportunities available on Zeepin, ZPT is still highly undervalued. This means that now is the best time to buy the tokens before they reach they reach the moon. They are available on Kucoin, Lbank, Gate.io and HitBTC. In view of the upcoming mainnet launch, the value and utility of the token will be sure to increase.
Get in on the Gala crowdfunding campaign and the GalaHub competition while you still can for more passive income opportunities.
Disclaimer: Part of the article group.