Frequently Asked Questions

FAQ for OZC Smart Chain

1. What is OZC Smart Chain?

OZC is a new generation Blockchain platform operating by O-DPoS (Open - Delegated Proof of Stake) consensus algorithm with the ability to scale many secondary Master Node clusters synchronized with 1 central Master Node cluster, helping to fast and low-cost transaction processing. In theory, OZC can handle more than 1 million transactions per second and is scalable to infinity.

2. What problems does OZC Smart Chain solve?

There are 5 main problems that OZC solves:

- Transaction processing speed

- Fast transaction processing

- Low transaction fees

- Build user-friendly solutions

- Minimize the consumption of energy and equipment to protect the environment and prevent waste.

3. What makes it different to be successful?

OZC Smart Chain has three things that make the difference and the success of the project:

- Green solution: instead of using the PoW consensus, it wastes too much unnecessary energy, wastes resources and materials, and also impacts the environment. OZC uses the O-DPoS consensus algorithm as the leading OZC research and development team to save energy and reduce unnecessary, safer environmental costs.

- High and low transaction processing efficiency: With multi-group consensus transaction processing capability O-DPoS Master Node. OZC can manage a transaction volume in excess of 100 thousand per transaction at a near-zero cost.

- Strong community: OZC is currently one of the largest projects with millions of users worldwide participating in the company and promotion. By coming to OZC, everyone can be given the opportunity to receive the greatest advantages and bring great value to society.

4. What is O-DPoS?

O-DPoS consensus algorithm (Open - Delegated Proof of Stake) means open delegated proof of stake. This is a consensus algorithm built by the OZC team and developed from the DPoS consensus algorithm.

The DPoS consensus algorithm is a model operated by a single Master Node cluster, so the system will be limited by the ability to process transactions and synchronize data, it is almost impossible to scale the processing capacity, causing congestion when there is a large transaction volume and an increase in transaction validation costs.

With O-DPoS, the system is operated by a central Master Node cluster that is able to link with other Master Node clusters, thereby threading transactions for the Master Node clusters to process concurrently and synchronously data by the central Master Node cluster at a fixed time interval.

5. OZC Smart Chain is a Blockchain platform built from the ground up?

OZC Smart Chain is a Blockchain platform built on technology and open source codes of previous Blockchain platforms such as Ethereum, Binance Smart Chain, Cardano... to create a new generation Blockchain platform that solves problems Existing topic of the Blockchain economy. The most optimal solution of current Blockchain platforms and the trend of Open Source in the field of technology in general is to inherit technology and develop in its own direction.

6. When will OZC Smart Chain Mainnet be public?

Currently, OZC Smart Chain technology team is deploying Testnet and is expected to publicize the Testnet system in January 2022. After OZC and the community and partners successfully test the Testnet system, it will public and use the Mainnet system, the expected time of public Mainnet is August 2022.

7. How is the ICO sale time for OZC?

The ICO program for OZC is scheduled to take place from July 20, 2021 to July 20, 2022. Official information will be updated on the website www.ozc.org and OZC's social media channels. 

8. How much the total supply and price of OZC coin?

The total amount of OZC Coin issued is 200,000,000 OZC. The initial expected selling price of OZC is $0.1/ 1 OZC.

After the ICO sale, all unsold OZC Coins will be locked into the Smart Contract and evenly distributed within 20 years to reward the system operations of the Master Node clusters.

Official information will be updated on the website www.ozc.org and OZC's social media channels.

9. What is the reward program from OZC's ICO project?

During the implementation of the ICO for OZC, we have 2 main reward programs:

- Get free $10 to buy OZC when you sign up as a member at OZC

- Referring members to buy ICO will receive a commission

Official information will be updated on the website www.ozc.org and OZC's social media channels.

 

OZC Smart Chain Team