Yes, Zebi Public Blockchain (ZPB) platform is built on Cosmos-SDK application layer which in turn is built on Tendermint Core that provides the Networking and P2P layers.
The criteria for choosing Cosmos over other frameworks were:
- Scalability – Cosmos supports both horizontal and vertical scaling with a large number of transactions per second (TPS).
- Security – Cosmos protects your crypto assets with the next-gen security model, securing the assets from the unknown threats.
- Interoperability – Cosmos facilitates chain-to-chain transactions and interconnects multiple blockchains, apps, and cryptocurrencies.
- Developer-Friendly - Cosmos is also developer friendly and uses Go language programming.
- Ease of Use – Cosmos eliminates the need for acquiring the tokens for each blockchain, enabling people to streamline the workflow.
- POS Algorithm – Proof-of-Stake (PoS) is a consensus algorithm that is used between the nodes to validate transactions and create blocks. Cosmos implements PoS consensus algorithm powered by the Tendermint BFT (Byzantine Fault Tolerant) engine.
Zebi Public Blockchain (ZPB) is a multi-asset and multi-token third generation blockchain platform for organizations to easily secure and tamper-proof their assets.
ZApp is a client specific Web application that fetches the data that needs to be secured or blockchained from the data source of data provider. It consumes the REST APIs of Zebid node to blockchain the required data that needs to be made tamper-proof in the Zebi node.
Zebi Public Blockchain is different than Cosmos in the following ways:
- ZPB is focused on sharing, securing, and validating the data across data providers, data custodians, and data requestors.
- ZPB extends Cosmos platform to make it adaptable to the above scenario.
- Using ZPB platform, organizations and enterprises can easily build their own customized ZApps to securely share the data and protect their digital assets.
- ZPB uses only ZEBI token.
- Initially, ZPB will have maximum 125 validators.
The function of ZApp is to pull the data from the source database and consume the services exposed by the Zebi Public Blockchain (ZPB) node REST APIs to create the blocks with the hash of the data. Both the ZApp and its corresponding Zebi node along with an optional RDBMS can be deployed/hosted in the data provider premises. That way, data provider’s data will never leave their premises.
Zapp can also be built to facilitate the retrieval and verification of the blockchained data, which is ingested into ZPB.
The real use-case of ZApp is – Anyone including individuals, organizations, and business entities can develop their own applications according to their needs and requirements using the functionalities of ZApp:
- It can ingest the data into ZPB to prevent data tampering.
- It can retrieve the hash value of the data and verify it from the data source.
Cosmos Proof-of-Stake Consensus Protocol is used by ZPB, which is powered by Tendermint BFT consensus engine.
Proof-of-Stake allows a set of validators to be rewarded for each block creation according to their respective stakes.
In Proof-of-Work mechanism, the validators solve a difficult puzzle to add the blocks to the platform while in Proof-of-Stake mechanism, the validators are chosen by an algorithm based on the users' stakes.
Only the hash value of the transaction along with the search keys are stored in the ZPB blocks. This is to ensure the data integrity and security of data providers. No data of the data provider is stored in ZPB blocks. Every transaction on the blockchain has its unique identifier. It is called a transaction hash. A set of hash transactions are grouped together to create a block hash.
Validators and Delegators:
Validators are individuals who have to run a ZPB node. Initially, there is no minimum number of tokens to become a validator. However, only the top 125 validators will be able to participate in the consensus. Validators are also responsible for ensuring that the network can sustain denial of service attacks.
A validator is responsible for validating the transactions on the network and running a ZPB node. They can stake their tokens to earn the rewards. The rewards earned by the validators is directly proportional to the number of stakes in the Consensus protocol participation.
Validators should expect to provision one or more data center locations with redundant power, networking, firewalls, HSMs, and servers. Since PoS consensus protocol is used, minimum system requirements to run a node are:
- 2-core CPU
- 8GB RAM
- 250 GB SSD/HDD
- Good Internet broadband with high-speed connectivity
Running an effective operation is the key to avoiding unexpectedly unbonding or being slashed. This includes being able to respond to attacks, outages, and maintain security and isolation in your data center.
Delegators are Zebi token holders who do not participate in running the nodes. Through Zebi wallet, delegators can share their tokens with a validator and obtain a part of its revenue in the exchange.
Yes, the delegators will get penalized if the validators get slashed under the following circumstances:
- Validators who fail to fulfil their pre-commits get slashed.
- If the validator node is down for an extended period of time.
- Validators who create 2 blocks or more than 2 blocks within the same block height get slashed.
Delegators can delegate their Zebi tokens to earn some staking rewards. For each validator, the commission rates are different which simply means that it will affect the amount of staking rewards that delegators will get from the validators.
Commission is the service fee that is paid to the validators.
Delegators choose a validator to run the node and for each block creation, they receive some rewards after subtracting the commission fee of the validators. Delegating your tokens to the validators also means that you share a part of their risk. If a validator gets slashed, a portion of the delegator’s stakes may also get slashed. The commission rates vary because each validator owns a different hardware.
Zebi token holders need to consider several things before choosing a validator to delegate their stakes.
If a validator often remains offline, there are chances that a portion of your tokens may get slashed. Therefore, it is important to keep an eye on your validator activities on a day-to-day basis.
If a validator behaves abnormally, it is highly advised to redelegate your tokens to a trustworthy validator. Or you can also undelegate your stakes from the validator.
The revenue you can get through delegating your Zebi tokens will be proportional to the number of tokens staked in the consensus. The probability of getting rewarded increases with an increase in the number of tokens staked.
To stake the Zebi tokens (ZEBI), you first need to set up a full node. Follow the steps of how to "Become a Validator" for the same.
Once you have become a validator by staking a required amount, you can edit validator details like commission rates and fees. The only thing that remains same is the staking amount. However, to stake more Zebi tokens (ZEBI), you can delegate some tokens to yourself.
For more help on delegation, use it for your reference:
zebicli tx staking delegate --help
Yes, Zebi nodes mirror Cosmos nodes. So, it operates the same way. Linux Firewall is recommended. The only recommendation is - On the validator node, disallow all incoming connections in the firewall. Only allow incoming connection on 26656/tcp from the internal IP of the sentry node.
Yes, it is always recommended to have Sentry nodes for enhanced security of the Validator node.
Yes, a backup server for Zebi Validator Node is recommended for the high availability of the node.
Not required. But for optimal deployment, any of the popular cloud service providers like AWS, Azure or Google Cloud should be fine as well.
Yes, it is referring to only peer nodes and NOT the sentry node setup.
We have NOT tested on the above Linux distribution. However, since there is no dependency on Linux OS functions in ZebiCLI or in Cosmos, theoretically it is supposed to work on any distribution of Linux provided the dependent Go Lang is installed on the system. Worth a try.
No, it will NOT work. Ledger Nano S HD Wallet will be supported in the next version of the Zebi Mainnet release. Cosmos only supports a beta version of Ledger Nano S through Dev Mode Installation on the device from LedgerLive application settings.
Validator nodes get jailed if they miss the last 50 Blocks creation - meaning a downtime of 50*5 seconds = 250 seconds which is equivalent to roughly 4 minutes as every 5 seconds a new block is created with or without transactions. This missing of participation in the consensus can be due to network outage or power outage or some other reason for which the node is not able to connect with its peers in the Mainnet network.
To unjail your validator node, please execute the following command:
zebicli tx slashing unjail --from=<account_address> --chain-id=zpb-mainnet-1 --gas-prices 500.0zebi --gas=auto --gas-adjustment=1.5
<account_address> is your account address.
NOTE: 1% of your staked ZEBI tokens will be slashed while unjailing a validator.
Also make sure you have enough ZEBI tokens to pay for the transaction fee to perform the transaction.
No, Zebi Public blockchain does not support masternodes as it implements the PoS Consensus protocol that does not require high-end hardware environment for the validators. In PoW Consensus protocol, high-end hardware is required for the masternodes setup. However, each validator will be rewarded in proportion to their respective stake.
Zebi Tokens and Wallets:
Yes, ZPB will have a new Zebi token (ZEBI). It will be released once the ZPB is launched.
- The new Zebi coins will be used to pay the fees.
- They can be bonded to offer the rewards.
- They can be used as a voting mechanism in the governance.
Currently, we support the Web application of the Zebi wallet. A ledger device, the Android and iOS apps will be supported in subsequent releases.
Every user of ZPB needs to have an account created in the Zebi Wallet.
ZPB is built on Cosmos and in general follows the rules set by Cosmos. Relevant parameters are published below. For a more detailed understanding of ZPB mechanics refer to the rest of the documentation and other FAQs, and also read Cosmos documentation.
The total number of tokens allotted in the genesis block at the time of the launch is 1 Billion.
The initial circulating supply of Zebi token (ZEBI) is 1,000,000,000.
The maximum number of validators ZPB will have is set at 125 for the first year, but it can grow with time. It is expected that the number of Validators will increase up to a maximum of 13% per year. Thus, the number of validators can increase up to 375 Validators over a 10-year period.
Validators get rewarded in two ways:
1. Through Inflation – This is the increase in the circulating supply that is calculated per block after every block creation
2. Transaction Fee – The transaction fee is distributed across all validators after every block creation in proportion to their staking percentage.
As with Cosmos, ZPB allows for inflation in order to reward staking. Inflated ZEBI tokens are distributed to stakers in proportion to their stake, effectively increasing their holding relative to non-staked tokens.
The inflation rate is set to vary between 7-20% with a maximum increase of 13% Year on Year. The change in the inflation rate is inversely proportional to the staking percentage, which is equal to Total Bonded / Circulating Supply.
The transaction fee is calculated as Gas* Gas-price. The actual gas is determined by the application dynamically based on the size of the transaction. So, the actual transaction fee varies from transaction to transaction.
The minimum gas price is set by a validator. However, the recommended gas price is 0.00000014 ZEBI.
The minimum self-delegation requirement for ZPB is 1 ZEBI.
The initial commission rate is set by validators at the time of setting of their node through command line parameters.
The maximum commission rate is set by validators at the time of setting of their node through command line parameters.
The maximum change rate of commission is set by validators at the time of setting of their node through command line parameters.
The block proposer Bonus increases from 0 to 5% depending on the percentage of votes between 67% and 100%.
The network tax of 2% of the transaction fee, which is set by default. All the collected tax goes into the reserve pool which will later be used to fund bounties or upgrades with approval from the majority of the Validators.
The block creation interval in ZPB is 5 seconds.
The criteria for validators getting slashed is 5% for double signing and 1% for downtime.
· Double signing: If someone reports on chain A that a validator signed two blocks of the same height on chain A and chain B, and if chain A and chain B share a common ancestor, then this validator will get slashed by 5% on chain A.
· Downtime: If a validator is down for some time, it gets slashed by 1%
The unbonding period on ZPB is 21 days from the day of unbonding request.
1. Assume the Gas-Price that is set by a Validator is 0.0002 ZEBI
2. Transaction Fee is = Gas * Gas-Price. The actual gas is determined by the application dynamically based on the size of the transaction. So, the actual transaction fee varies from transaction to transaction.
Assuming Gas Value is = 5,000 then
Transaction Fee per transaction = Gas * Gas-Price = 5,000 * 0.0002 = 1 ZEBI
Suppose there are 100 transactions in a Block, then
Total Tx Fee collected is = 1 * 100 = 100 ZEBI
Block Proposer gets additional Bonus in the range of 1-5% depending upon the %age of pre-commits collected.
Let’s suppose that the Block proposer collects 100% of pre-commits, then his Bonus will be 5% so the reward for him will more than the other non-proposer validators.
Let’s assume there are 10 Validators with equal voting power and X is the reward for each Validator. Then,
10X + X*5% = 100
X = 100/10.05 = 9.95
- For the proposer validator:
Rewards = X + X * 5% = 10.45 ZEBI
For each non-proposer validator:
Rewards = X = 9.95 ZEBI
Let’s take an example of three validators in a network
- Validator 1 (Chris) having 100,000 tokens stake
- Validator 2 (John) having 50,000 tokens stake
- Validator 3 (Amy) having 5000 tokens stake
Let the initial circulating supply be 1,000,000,000 Zebi tokens (ZEBI)
Here are the formulae for the rewards calculation due to inflation alone:
- Staking Percentage = Amount staked by Validator / Total Amount staked by ALL Validators
- Annual Provision = (Inflation / 100) * Circulating Supply
- Block Provision = Annual Provision / Total Number of blocks created p.a.
- Total Number of Blocks created = Total time in a year (average) in seconds / Block creation time (in seconds)
- Validator Rewards Per Block = Staking Percentage * Block Provision
- Block creation interval in ZPB = 5 seconds
- Initial Circulating Supply = 1,000,000,000
- Maximum Yearly inflation rate = 13.3%
- One Calendar Year = 365.25 days
- Total number of blocks p.a. = (365.25*24*60*60) / 5 = 6,311,520
- Annual Provision = (13.3 / 100) * 1000000000 = 133,000,000
- Block Provision = 133,000,000 / 6,311,520 = 21.0725
|S.No||Validator Name||Amount Staked||Staking Percentage||Block Reward|
Suppose out of 100,000 of Chris’s total stake only 20,000 is his self-stake and the rest 80,000 is delegated to Chris by 5 Delegators in equal proportion of 16,000.
Let’s assume that the Validator’s Commission is 1% of his gross rewards. Then
Commission = (1/100) *(80,000 / 100,000) * 13.5952 = 0.1087 ZEBI
Chris’s final rewards will be = (20,000/100,000) * 13.5952 + Commission = 2.8278 ZEBI
Since there are 5 Delegators, each of the Delegators rewards
will be = ((80,000/100,000) * 13.5952 – Commission)/5 = 2.1534 ZEBI
Hence the total rewards for Delegators and Chris = 2.15348 * 5 + 2.8278 = 13.5952 ZEBI
The above example walks through how rewards work at any point in time. The rewards will vary with staked tokens, validator settings, transaction volume and complexity, as described above. In the initial phase of ZPB, we expect 25 Million staked tokens out of a 1 Billion circulating supply (Genesis). If one were to stake 10,000 tokens and there were 2 transactions per minute, with a gas fee of 10^-7 ZEBI, one can expect a reward of about 65 ZEBI in a day for a stake of 10,000 ZEBI. The majority if this reward is from inflation given the low stake percentage (25M over 500M) and an annual inflation of 13% that is implemented as blocks get created.
Privacy and Security:
Zebi Public Blockchain platform ensures the data integrity and security by accepting data only if the transactions are signed by the validator. The validation of the data is done through predefined JSON schemas.
Yes, you can trust in Zebi to protect the data from unauthorized users or hackers. Zebi uses the public key infrastructure interface to protect and safeguard the data.
To protect and secure the data, Zebi entity performs the following tasks:
- Performs JSON validation
- Performs schema validation
- Verifies the source of the data from the data providers
- Ensures that the transaction is signed with a private key by the data provider
Zebi secures the source data by providing the data security services, for example, node hardening, firewalls, auditing, anti- DDOS (Distributed Denial of Service), image scanning, certificate management, backup, recovery, and firewall.
No data belonging to the data providers is stored in the blocks. Only the hash value of the data along with the search key is stored in the blocks.
No, it is not possible to change your private key. The private key is unique for every user and it is generated only once.
In case if someone loses his private key due to unavoidable circumstances, it is possible to recover the same private key again to access the data on the Zebi Public Blockchain using the Mnemonic passphrase of the account holder. Therefore, it is important for the user to securely store the passphrase.
Yes, there is a way to recover the private key again with the Mnemonic Passphrase.
You cannot restore your Mnemonic Passphrase.
If you lose your Mnemonic Passphrase to recover the private key again, you will not be allowed to access the data stored on the blockchains.
We strongly recommend that you store your Mnemonic Passphrase in a secure space, and make sure that no one except you can access it.