What is Zencash (ZEN Coin) |
A Private, Distributed, Reliable Currency
ZEN Coin Price
What is Zencash | A Quick Summary
Zencash is a private, reliable blockchain based platform for transactions, communications, and publishing.
The History of ZEN Coin
On May 23rd, 2017 Zclassic finished block 110,000 which resulted in a hard fork.
This hard fork was ZEN coin.
The coin was dispersed to all owners of Zclassic as a double and currently operates using the original chain.
The Zencash Coin Founding Team:
Rob Viglione - Linkedin
A former physicist with experience working on bitshares, blockpay, zclassic, seasteading, and Bitgate.
Rolf Versluis - Linkedin
A Nuclear trained officer in the US Submarine Force and Cisco Systems background
Ross Kenyon - Linkedin
Since starting Zencash, Ross has left, although he now works on a start-up called Nori.
The Purpose of ZenCash Coin
When working on Zclassic, Rob Viglione wanted to make a platform that had variable ZK-Snark features.
One that could host other messages and didn’t always need to be private.
That’s when he and his co-founders came up with the idea to hard fork Zclassic and make the coin itself.
Thus, Zencash was born.
And with it a private, distributed, and reliable platform for communications, transactions, and publishing.
This coin is meant to focus on users and usability with:
- International Documentation
- Wallets in Different Languages
- Global Governance
- Featuring inclusive decision making
- Reliable funding for continuous improvement
The Features of Zen Cash
On zen cash, you can directly use Zk-snarks from Zcash.
Or, if you want transparent rather than shielded transactions, Zencash uses the bitcoin blockchain based system.
Secure and Anonymous Publishing
One of the most difficult parts of publishing something on the internet is privacy.
With Zen coin, end-users can create one-to-many private communications on the blockchain.
Secure messaging publishes on the InterPlanetary file system, while distributed publishing and messaging gives worldwide anonymous communications.
With private communications, you will be able to ensure that your metadata doesn’t leak.
This decentralization of nodes ensures that communications aren’t trackable.
These communications use the shielded transaction method of employing Zk-snarks.
International Resilence Per Secure Nodes
By having access to a global community Zen secure nodes form the foundation of Zencash.
These nodes can fully encrypt communications and network obfuscation so end-user activity is protected.
Running a secure node is encouraged and funded by a 3.5% redirection of the block mining reward.
A Treasury Fund For Development
8.5% of each block mined on Zencash is given to a treasury fund for development of ZEN.
This will be used for operations, development, and marketing of zencash.
These funds are allocated by the Zen Blockchain Foundation, a non-profit that is helping to grow ZEN.
An Integration With IFPS
IPFS is a peer-to-peer hypermedia protocol for a safer, more open web.
Essentially this helps to build the distributed web, where any type of information in multiple formats can be published.
What We Think of Zencash
We at GCA currently are holders of ZEN.
Being a part of this new decentralized p2p world, we are avid proponents of security and privacy.
That’s why Zencash is on our top list for anonymous coins.
Because when it comes down to it, you can never be too safe send money, messages or content back and forth.
And ZEN helps to eliminate the fear that it will be leaked.
If you liked this review and want to help support the academy donate some ZenCash below!
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