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A Better Cryptocurrency For Everyone
SnowGem (XSG) is a cryptocurrency or decentralised currency used via the Internet. It is an ecosystem which allows one to transfer value, either transparently or privately, anywhere in the world without the need to trust a central authority such as a bank or other clearing house. SnowGem users are able to send or receive XSG quickly, reliably and securely using a personal computer, laptop or mobile device.
SnowGem is based on Zcash. Zcash is the first cryptocurrency to apply zkSNARKs (Zero Knowledge Succinct Non-Interative Argument of Knowledge) which allow parties to prove a statement without revealing any information other than the validity of the statement. SnowGem began as a fork of the Zcash blockchain(5) and inherited all features of Zcash at that time (23rd December 2017).
SnowGem officially launched its blockchain on the 25th December 2017 after 72 blocks had been timestamped. During the first 72 blocks, no external miners could mine (less than 7 XSG was mined during this period). It was considered necessary to make sure the blockchain launched seamlessly. On the 15th April 2018, masternode payments were activated. This meant that SnowGem became the first Equihash algorithm oriented cryptocurrency with zkSNARKs(6) to implement active masternode technology.
SnowGem is the first Equihash – zkSNARKs – Masternode coin. There will be similarities between SnowGem and other cryptocurrencies where one can find that the existing solutions are sufficient, but there will also be differences in philosophy, direction, as well as execution where project team believes they can improve upon these existing solutions.
Equihash is a memory-hard Proof-of-Work algorithm with ASIC resistance in mind to maintain a decentralized network protocol.
What is different in SnowGem project
Unique points of this project
- SnowGem is the First Equihash – zkSNARKs – Masternode coin
- SnowGem has a beautiful wallet UI (user interface) for an Equihash coin
- 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
Features of SnowGem project
You can send
There is no project that can be perfect from the start.
SnowGem is the first Equihash – zkSNARKs – Masternode system. zkSNARKs shields your SnowGem transactions which is fully encrypted on the blockchain. Masternodes help to achieve faster and more private transactions. To run a SnowGem Masternode you will need 10.000 XSG in your SnowGem wallet as collateral. Masternode rewards happen daily.
SnowMine is project’s project’s mining software.
Genesis Block: 23rd December 2017 at 13:08:01 UTC
Official Launch: 25th December 2017 at 00:32:41 UTC
Timestamping Algorithm: Proof of Work (PoS)
Hashing Algorithm: Equihash <200, 9> (currently <144,5>)
Block Time: 60 seconds
Block Reward: 20 XSG*
Block Halving: Every 2,102,400 blocks
Difficulty Re-targeting: Every block
Total Coin Supply: 84,096,000 XSG
Pre-mine: 0 XSG
Founders’ Reward: 5% block rewards for the first four years**
*The founder coded block generation to incrementally increase by 0.0025 XSG each block beginning with a 0.0025 XSG block reward at block number one. It attained the 20 XSG block reward at approximately block number 8,000. This gave users ample time to join the network and prevented high hashrate miners from accumulating a large number of XSG early on.
**A Founders’ Reward was decided upon as the best method by which to raise the necessary funds for code development, marketing and other operational activities. While acknowledging that an ICO (initial coin offering) is a great way for blockchain projects to raise initial funds, it was considered as a risky approach. SnowGem know the importance that, for a project to succeed in the competitive crypto sphere, funds are required to attract talent and pay for services. In the future, the team are seeking outside investors. SnowGem knows the importance of this, for a project to succeed in the competitive crypto sphere, funds are required to attract talent and pay for services. In the future, the team will seek outside investors.
Purchasing of products and services directly via the
Provide a fast, reliable and secure trading platform solution for all holder using crypto or fiat currencies
Publicly accessible media and data; directly integrated
SnowGem core team
Founder, ceo – Tinh Pham
Genesis / Core developer
Project manager – Jakub Korbel
Project manager, developer
Developer – Ingvar Örn Þórarinsson
Backend Developer, advisor
Developer – Bartlomiej Sztefko
Backend developer, advisor
Content manager – Michael Munson
Content manager – William McLaren
Marketing manager – Hugo Zupan