What is SnowGem ?

What is SnowGem ?

Blockchain Business Technology
March 5, 2018 by admin
253
cropped-snowgem-about21.png

SnowGem is the first Zhash-zkSNARKs project to offer Masternode ownership. Originally using the Equihash algorithm SnowGem switched to Zhash (144,5) to maintain a healthy GPU mining community. There will be similarities between SnowGem and other cryptocurrencies where we find that the existing solutions are sufficient, but there will also be differences in philosophy, direction, as well as execution where we believe we can improve upon these existing solutions.

Why SnowGem is different?

SnowGem is the first and only Zhash coin that offers Masternode ownership. We built our own wallet user interface to make your SnowGem experience smooth and seamless. Come check out SnowMine, it supports many popular coins with great features that allow you to mine more than one coin at the same time. We also successfully created our own full-node multicurrency Modern Wallet. We are working on a Payment processing system with credit card support, our own Decentralized exchange (DEX) and Content Masternodes for storing importantdocuments and media. Currently, we have 3 full-time workers and 6 active core team members.

  • SnowGem is the First Zhash-zkSNARKs Masternode coin
  • SnowGem has a beautiful Modern Wallet with multicurrency support
  • SnowGem has an awesome mining tool for all coins with great features
  • SnowGem has an experienced development team
  • SnowGem has a very strong and friendly community
 
 

What is a 51% attack?

A 51% attack is a potential attack on a blockchain network, where a single entity or organization is able to control the majority of the hash rate, potentially causing a network disruption. In such a scenario, the attacker would have enough mining power to intentionally exclude or modify the ordering of transactions. They could also reverse transactions they made while being in control – leading to a double-spending problem.

A successful majority attack would also allow the attacker to prevent some or all transactions from being confirmed (transaction denial of service) or to prevent some or all other miners from mining, resulting in what is known as mining monopoly.

On the other hand, a majority attack would not allow the attacker to reverse transactions from other users nor to prevent transactions from being created and broadcasted to the network. Changing the block’s reward, creating coins out of thin air or stealing coins that never belonged to the attacker are also deemed as impossible events.

 

mPoW 51% Attack Solution

Please download the new Modern Wallet version and upgrade your masternodes as soon as possible.

Download link for Modern Wallet:

https://github.com/Snowgem/ModernWallet/releases

The more masternodes upgraded the stronger the network will be. So do not delay on this one and go to this link so your masternodes are equipped with Thor’s Hammer. The SnowGem Team has prepared this self-upgrade script, that will update your Masternode without shutting down the daemon (no rewards will be lost):

https://github.com/Snowgem/masternode-upgrade

In Norse mythology Thor’s Hammer was crafted from Asgardian steel. SnowGem will now have a feature in your Modern wallet called Asgard to assist you in building a Masternode easier than ever. This is a great one for whales and noobs.

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