Zealium: the Future of Online Payments in New Zealand
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The current digital payments regime is dominated by global credit and debit card companies which are useful but not entirely great. The price for this convenience is a level of control over your transactions and significant transaction fees. This means that the card companies have a level of discretion on approving the transaction.
The New Zealand-based platform Zealium (NZL) offers private, decentralized payment services. It relies on Proof of Stake algorithm to execute fast and secure transactions. Accordingly, users have a reliable channel for effecting daily payments with dramatically lower costs.
This is why crypto-currency payments can become the next big thing. Besides the fact that the payments are decentralized, there are other pros of using crypto-payment services like Zealium. Let’s look at some of those advantages.
Reasons Why Zealium will Disrupt Payments Industry
- Lower transaction fees- Typical credit card and payment companies charge about 3% in transaction fees. Cryptocurrency fees are significantly cheaper at less than 1%.
- Faster payments- You can realize the dream of instant transactions using a service like Zealium payments. This is because the blockchain based transactions are independent of a centralized server as the network is decentralized and trustless.
- Decentralized and secure transactions-Cryptocurrency transactions on reputable platforms like Zealium are secure and trustless. The latter is because no middlemen are involved in the transactions.
- Rewards incentives.
- Privacy- Using crypto-payment services like Zealium, one can be able to conduct transactions without necessarily having their personal information revealed to the recipient.
However, there are still issues that linger. First is scalability of the network and the ability to handle a large number of simultaneous transactions. Zealium relies on POS (proof of stake) and can, therefore, scale up better than Bitcoin which uses Proof of Work.
Second, the volatility of respective coins in general and specifical safety from nefarious persons like hackers. This is a real thorn in the credibility of crypto payment services. A stable, consistent solution like Zealium is great to remedy this.
Specific Features of Zealium
The first notable feature of Zealium is definitely the fact that the platform relies on Proof of Stake algorithm. POS is advantageous to the earlier proof of work because the process of coin generation does not require advanced hardware. Moreover, the network is generally more energy efficient and more scalable.
Essentially, you generate new coin by staking a certain amount of coin in your wallet to receive stipulated rewards. You earn these rewards after a certain period of time. As a matter of fact, this is an incentive for users to store coin in their wallets hence providing better general stability.
Zealium aims at becoming the nationwide payment channel across New Zealand. This means that the development team intends for the coin to have regular use and not just become another volatile coin for speculative trading.
To achieve effective decentralization, Zealium utilizes Masternodes. These are remote servers that facilitate transactions in the network earning rewards for the owners in the process. Masternodes help improve the overall efficiency of Zealium in the process bringing stability and reliability to Zealium transactions. Besides, you can invest in Masternodes and earn a great Return on Investment.
Zealium has a strong emphasis on community values. This is because the development team engages the community extensively. Besides, the platform is simple and user-friendly. All this furthers the decentralization goals of this network.
Finally, Zealium relies on the PIVX technology. This is notable because Zealium relies on this mechanism to fork the wallets.
Rewards
Essentially, the community receives rewards from staking and Masternodes. The Masternode require an initial investment of 4000 NZL. That said, you have a guarantee of 10 NZL for every reward the Masternode finds. You require no minimum coin stake for POS staking. However, it only makes sense that Masternode owners receive assured and higher rewards.
Conclusion
Zealium is an organized and effective platform with real-life value. These may seem like basic ideals but make the difference between successful altcoins and vice-versa. There is a clear niche for better payment services and this coin is here to fill the niche.
Besides, this project is specific to the New Zealand Market for a start. This approach means that the platform can have a reputable and national brand in a few years. This bodes well for future growth since people have to identify with or need a certain product for it to be successful. Zealium can be both.
