The Altcoin world is growing by an immense pace, but not many projects that actually solve a real world issue can say that they came up to the expectations or that they could keep their original timelines. We recently came across a project that we wanted to introduce and, which is actually on the good path to solving the issues of the creative industry: Zeepin (ZPT).
The Zeepin ICO running on the NEO blockchain has finished back in January 2018 and has collected a great amount of funds in the midst of the blockchain craze, but instead of being forgotten or running away with the funds as many did, the project is getting really close now to the release of its Mainnet at the end of August.
Zeepin is focusing on revolutionizing the creative industry and is building a decentralized public blockchain for supporting creative works and building adoption for them through crowdfunding options.
The way Zeepin works is by creating an own blockchain specifically designed for the creative industry with a GBFT-POS (Galaxy Byzantine Fault Tolerant-POS) consensus mechanism, based on Ontology's VBFT algo, that allows for low-cost operation and scalability. Both the before mentioned properties are needed because the chain needs to be suited for running dApps on a large scale. Zeepin will be the exchange unit used for smart contracts and dApps.
There will be various dApps launching on the main network to support the idea behind the project including:
► ZeeRights - Gain a Certificate of Registration for your Copyrights
► ZeeCreate - Connects creative content with people in need for ideas
► ZeeSure - Insurance for your creative property
► ZeeCrew - Set up your Creative DAO
► ZeeProof - Provide proof of copyright to 3rd parties without disclosing content thanks to ZKProof
► ZeeTalent - Identity on the Zeepin Chain
► CryptoGalaxy -
This last one is a bit more complex as it basically integrates a game into the Zeepin ecosystem. The game is similar to Decentraland and few other projects in the sense that you can own digital land in a digital world, but instead of running another crowdfunding for it, the project will run on the scalable Zeepin chain and will use ZPT to distribute Gala tokens. This means that if you buy and hold ZPT in your wallet, you will receive a share of the daily 150,000 Gala distributed. Not only is this a 'free' way for holders to take part in a virtual galaxy by buying planets, they also get the opportunity to dig more Galas during the game. There is an intro video on Youtube and a tutorial up on Medium.
But wait.... there is more. An additional use-case for the Gala tokens is the upcoming GalaCloud distributed storage network that the Zeepin project announced just recently. As you might have guessed, this network will connect the buyers and the sellers of unused storage space in order to monetize it, and the solution will be a very important component in the Zeepin ecosystem. Providing cheap, scalable, secure and distributed storage space for dApps and their data is crucial for a project that intends to keep everything accessible for everyone at anytime.
Key components of the GalaCloud project are the GalaHub and the GalaBox .The GalaHubs are nodes in the GalaCloud network, which provide distributed storage services like coordinating the work of the GalaBoxes and dispatch the sharding of files. These nodes will earn 20% of the revenue that users pay to use the storage network.
In order to participate in the network as a GalaHub, you need to apply for a selection process and screening and lock up a minimum 400,000 ZPT for 18 months. This could mean a high ROI for participants as the number of GalaHub nodes will be way lower compared to GalaBox nodes.
GalaBoxes are nodes with special hardware and software that contribute the actual distributed storage of encrypted files with the help of their hard disk space. These will altogether earn 70% of the total Gala revenue gained by the usage of the service.
The first mining machines labeled GalaBox G1 will be manufactured by ZeeFund through several phases, with the first one releasing 60,000 pieces altogether and the probably most amazing thins is that it's completely free as long as you are willing to lock up 4999-5500 ZPT (depending on the crowdfunding round) for 18 months.
Our key takeaway here is that both the GalaHub and GalaBox solutions are great for a passive income and neither of them cost anything except a lock up period on your coins. Both are nearing completion together with the Mainnet launch that is happening soon. This is especially great for those who believe in the project's long-term vision, but is also a good opportunity if you were undecided on the Zeepin project as the global crypto bear market is offering great entries on several undervalued Digital Assets.
If you became interested n the project, you can buy ZPT on several exchanges including Kucoin, Lbank, Gate.io and HitBTC or you can join official discussions on the Zeepin Telegram.
Disclaimer: Part of the article group. Second and Third images taken from Galacloud.io.