Public blockchain projects have contributed significantly to the introduction of faster and cheaper payments worldwide. Private coins, on the other hand, have succeeded in making blockchain technology easier and more secure by adding an element of privacy.
SnowGem (XSG) is one of such decentralized cryptocurrencies, which is based on the open source peer-to-peer Zcash cryptocurrency. It uses Zero-Knowledge Proof (zkSNARKS) to facilitate encrypted transactions in its blockchain network.
What is zkSNARKS?
ZkSNARKS is a blockchain-based privacy feature that allows secure transactions between two parties without revealing the identity of the sender or recipient. SnowGem (XSG) is a forked version of the ZCash blockchain and has inherited almost all its features and more on this platform. It is the first and only derivative of ZCash to offer Masternode ownership.
What makes SnowGen special is the fact that it has its own full-node, multi-currency and modern wallet. Currently, developers are also working on a payment processing system that will support credit and prepaid cards. SnowGem is revolutionizing the payment industry with its own SnowPay platform and the already mentioned credit and prepaid card support.
The SnowGem developers team has decided to take some bold measures to bring crypto payments to the mainstream. They work quite closely with some traditional players, such as MasterCard.
SnowGen plans to bring cryptocurrencies into everyday life
SnowGem´s platform SnowPay has now entered the final phase of development as they have recently successfully established a partnership with MasterCard on a prepaid card project. As part of this partnership, the two platforms will work together to further develop and integrate. The plan is to allow users to use cryptocurrencies in their daily lives. SnowGem is taking a big step towards mass adoption of digital currencies!
Developers at SnowGem plan to release their SnowPay solution with the new CoinGuard wallet. As a result, the platform will offer an integrated all-in-one solution to meet all customer needs.
The first batch of SnowGem cards SnowPay is likely to be released in a few weeks. A fixed date has not yet been set.
There is quite a bit of hype around their CoinGuard wallet. It is a multi-node crypto wallet that allows its users to store all of their cryptocurrencies in one secure and “spendable” location.
New developer and special features of SnowGem
The SnowGem development team is working on a native decentralized exchange office (DEX) for greater control entrusted to the hands of users. In addition to protecting the privacy of users, it also aims to increase the protection of Masternode content for storing important media and documents.
Special features of SnowGem include privacy, long-term, availability and profitability.
- Privacy: When using protected transactions, SnowGem hides the identity of the sender and recipient. This helps maintain the confidentiality of financial information.
- Long-term: The SnowGem team wants to be successful and believes in long-term results. For this reason too, it is open to feedback and suggestions from its community.
- Availability: Each user can send and receive SnowGem anytime, anywhere in the world. SnowGem allows users to receive instant payments.
- Profitability: The platform has various incentive programs that reward users for owning SnowGem XSG.
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