What happens if I don’t have 1000 XZC? Can I share a Znode with someone else?

By November 27, 2017 No Comments

In the event people want to pool together their funds to make a Znode, please take note that you have to trust the person holding the funds for everyone.

This is because the 1000 XZC needs to be sent to a new address in one transaction and the custody is with one person. We ideally do not recommend such arrangements unless you really trust the person holding the funds on behalf of you. There is nothing to prevent the person holding the Znode funds from running away with your share.

This is not a problem if you have 1000 XZC as you can still keep those funds on your own local wallet. A Znode provider in such cases only requires your Znode private key (not the same as your funds private key) and the transaction ID of your 1000 XZC deposit.