Quote from: l8orre on June 17, 2020, 07:41:39 AM

Quote from: coloredcoin on February 25, 2019, 09:30:02 AM

Team
Team is anonymous, we dont even know for sure if its one or multiple persons. Nyzo is not a privacy coin so we must look at this as a red flag.

Nyzo devs created genesis block which contained total Nyzo supply of 100,000,000 coins. 20% or 20,000,000 coins has been set aside and is used as incentive for verifiers to participate in the mesh while the network is new. These coins will be distributed over the period of 6 years. The idea is that after the initial period, the network will be large enough to support verifiers solely from transaction fees which are awarded for processing transactions. Transaction fee is fixed at 0.25%, regardless of transaction size.

The other 80% is problematic, it is controlled by Nyzo team and can be used as they please since it is not locked. Huge red flag since it is effectively 80% premine. We dont see any justifiable reason for doing this.

https://myaltcoins.info/nyzo-review/

Thanks! This info is sort of what I was looking for!

This is outdated, the premine has been transferred to an address controlled by the cycle, which needs at least the approval of 50% of the verifiers to move any funds from it. This address is now intended to fund the development made by the community to the project and pay bounties for reporting vulnerabilities. You can find more info in the following links:
http://tech.nyzo.co/strategy/buildingNyzo1
http://tech.nyzo.co/strategy/buildingNyzo2

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