Zen Protocol, a Blockchain built for finance, is announcing its testnet and starting to on–board beta testers. Zen is making secure, peer to peer finance possible on a public Blockchain, removing the need for intermediaries such as banks and brokers.
Current financial systems are centralized, complex, and difficult to access. While established and experienced players can usually deal with the paperwork and bureaucracy, many businesses and individuals find the barriers to entry impossible to overcome.
Potential trades and deals are lost, as these participants in finance are forced to use intermediaries to gain limited access to the system, without the ability to issue assets or even to trade in some asset classes.
Zen allows anyone to create and trade financial products, anytime, anywhere in the world, on a platform secured with a proof-of-work Blockchain. Zen provides users with an open marketplace for options, futures, digital currencies, ETFs, exotics, and many other types of financial instruments.
Built to support a comprehensive financial system, Zen is open, frictionless, and completely decentralized. The Zen Protocol’s reference implementation uses the .NET stack and the F* functional programming language, developed by Inria and Microsoft Research, to power contracts that are provably correct, and that never exhaust network resources.
Unlike other platforms, Zen makes it possible to build smart contracts with real utility, making it viable for them to use real-world data and work without any intermediaries or central control. All assets on Zen are created by contracts, making possible decentralized, automated escrow—meaning that traders on Zen no longer need trusted counterparties.
Zen miners can verify how much computation each contract requires, before ever running it. This allows Zen—unlike competing smart contract platforms—to work without a virtual machine or a resource counter, making contracts in the Zen Protocol as fast to execute as compiled system code.
Additionally, Zen has first class tokens, assets that can be held and transferred without running their issuing contracts. This is a step forward in usability and compatibility from platforms which implement tokens as a second-layer protocol. With Zen, new assets are always usable by any existing or future contract.
The Zen Blockchain is parallel to Bitcoin, with its own POW scheme, but incorporates commitments to the state of Bitcoin’s Blockchain. Every fully verifying Zen node is also a Bitcoin node. This close connection to Bitcoin makes it possible for contracts to sell assets on the Zen Blockchain for bitcoins, for users to create pegged Bitcoin assets on Zen, and for the Zen Protocol itself to use any future sidechain support in the Bitcoin protocol.
Zen Protocol offers:
- Scalability: Off-chain transactions and an active contract set makes the Zen Protocol highly scalable.
- Resilient incentive alignment: The Zen Blockchain is secured by multiple proof-of-work algorithms, with token-holder voting on the balance between them. This creates robust incentives for miners to deliver efficient, reliable security.
- Useful real-world data: A cornerstone of any valuable use-case is connecting to real events and external sources of information. Zen’s solution allows for commercially viable data feeds.
- Security: Zen contracts come with proofs, written in F*, that demonstrate they are free of errors and security vulnerabilities.
- Bounded contracts: Miners know the cost of executing contracts before running them, enabling compiled contracts and a guarantee that transactions only enter the Blockchain when contracts fully, successfully execute
“Tokens are the incentive for mining. We believe in Bitcoin’s model of bootstrapping security via inflation, when the costs would otherwise be carried by the user base,” said Adam Perlow, CEO of Zen Protocol Development. “We are focused on creating a fully decentralized finance platform that offers secure, scalable transactions.”
Learn more by joining the conversation on Telegram: https://t.me/zenprotocol
- IEEE Releases Findings from First Detailed Study of Blockchain Adoption in the Pharmaceutical Enterprise - October 19, 2017
- Horizon State Launches Token Sale to Modernize Global Voting and Collaborative Decision Making - October 19, 2017
- Metaps Plans to Launch Time Marketplace ‘Timebank’ Token Sale on COMSA - October 19, 2017
- Lykke Vanuatu brings Binary.com tokens to Lykke Vanuatu Exchange - October 19, 2017
- After raising $15M in a pre-sale, BitClave is ramping up for its Nov 8 crowdsale, and its plans to redefine the search experience - October 19, 2017
- Kazakhstan Is About To Launch The First Cryptocurrency, Directly Backed By Fiat Money - October 19, 2017
- Positive.com launches to protect Initial Coin Offerings from cyber attack - October 19, 2017
- Latium Launches LATX Cryptocurrency Token Sale for Participation in AI-Based Tasking Platform - October 18, 2017
- IBM Announces Major Blockchain Solution to Speed Global Payments - October 18, 2017
- Launch of SMSCHAIN, a Blockchain-based SMS Gateway - October 18, 2017
- Streamr Concludes a 30 Million CHF Crowd Contribution Period to Build Decentralized Real-Time Data Economy - October 18, 2017
- Publica Building New eCommerce Platform for the Publishing Ecosystem – Token Sale Coming Soon - October 18, 2017
- BLOCKv Partners with Storj Labs to Provide Decentralized Storage Architecture and New Toolsets to Power Next Generation Digital Objects - October 18, 2017
- Coinme Announces the Start of the UpToken Sale Today With Over $40 Million USD in Pre-Registration Signups - October 18, 2017
- Blockbid Announces Launch Of ICO Backed By Multi-Cryptocurrency Trading Platform - October 18, 2017
- SportyFi – Decentralized Sports Investment Start-up Endorsed by Soccer Superstar Roberto Carlos - October 16, 2017
- Acronis Joins Runa Capital and Parallels In Accelerating Innovation and Supporting Blockchain Initiatives in Malta - October 16, 2017
- Jaxx Allows First Crowdsale Participation with STORM Token - October 16, 2017
- Hyperledger Knits New Project – Hyperledger Quilt - October 16, 2017
- Legolas Exchange Partners With BanQix to Protect Institutional Investors - October 16, 2017
- MARK.SPACE Announces Launch Of Blockchain-powered VR-platform With Upcoming Token Crowdsale - October 16, 2017
- IRTI Partners With Ateon And Settlemint To Develop Blockchain-based Products For Financial Inclusion - October 16, 2017
- Golden Alliance Coin Announces ICO – For Mining Gold - October 16, 2017
- Media Aggregator Esports Gold Announces $5 Million Ethereum Token Sale - October 16, 2017
- MinexCoin: Park the Volatility! - October 16, 2017
- Ambrosus Token Generation Event (TGE) Officially Cracks the Largest Blockchain Crowdfunded Projects in History - October 15, 2017
- Freedom Streaming Announces An ICO For The First Uncensored And Anonymous Live Streaming Platform - October 14, 2017
- MicroMoney starts a $30,000,000 token distribution campaign - October 14, 2017
- Announcing the First Members of the DataBrokerDAO Alliance - October 14, 2017
- STK Global Payments Announce Global Advisory Board – Token Sale - October 14, 2017
- Zilliqa Breaks 2,400 Transactions per Second with their ‘Sharding’ Blockchain - October 13, 2017
- Dappbase Launches High-Performance Infrastructure for Decentralized App Developers - October 13, 2017
- bitJob Raises $2 Million to Launch Decentralized Platform for Student Employment - October 13, 2017
- Particl Unveils Its Confidential Cryptocurrency Transactions - October 13, 2017
- Waves To Develop “liquid Democracy” Applications - October 13, 2017
- DECENT Updates Core – New User Issued Assets and More - October 13, 2017
- Dash for Dope – Digital Payments Platform Alt Thirty Six Selects Dash As Payment Method of Choice for New Retail Sectors - October 13, 2017
- Garvan Institute And E-nome Enter Strategic Alliance To Enhance Medical Research Data Management Through Blockchain Tech - October 13, 2017
- Moody’s: New Payment Technologies Pose Threat, But Incumbents Unlikely To Be Displaced - October 13, 2017
- ZAP Token Distribution Event to Begin October 21, 2017 - October 12, 2017
- AirFox Raises $15 Million in Successful ICO, Brings New Mobile Banking Solutions to Emerging Markets - October 12, 2017
- HydroMiner Token Sale Starts October 18th – Austrian Regulators Approve - October 12, 2017
- The SBM Group and SALT Technology Enter Exploratory Partnership to Collateralize Blockchain Assets - October 12, 2017
- ExHasta: Integrating and Empowering Innovators – Announces Token Sale - October 12, 2017
- Tech Veterans Set Up Global Public Offering Fund To Turn Top U.S. Startups Into Asia-Pacific Listed Unicorns - October 11, 2017
- ZenCash Partners With Welto to Allow Bill Payment in Cryptocurrency - October 11, 2017
- Cryptopay Plans to Tie Investments to Service Performance Metrics - October 11, 2017
- Boosteroid Wants to Squeeze Google and Amazon on the Cloud Computing Market - October 11, 2017
- Fiinu Launches Pre-sale Ahead Of ICO - October 11, 2017
- Famous Russia-based startup BioCoin closes first round of presale with $2.5 mln raised - October 11, 2017