Privacy coin ZenCash has announced its public stable launch and the beginning of its trading on the Bittrex Exchange under “ZEN”.
Described as an “evolved form of zk-SNARK cryptocurrencies”, ZenCash was launched as a friendly hard fork from Zclassic on May 30, 2017 by founders Josh Yabut, Rob Viglione, Jane Lippencott, and Rolf Versluis. It incentivizes ecosystem participation and provides easy facilitation of value, communications, and data storage and transmission.
ZenCash is also participating with blockchain adtech and payments company CakeCodes, a company whose hundreds of thousands of users earn cryptocurrency for trying new products, games and apps.
“We’re already trading on Bittrex, one of the most important exchanges, and are proud to boast a feature set that optimally protects against censorship and prevents the politicization of blockchain technology,” Mr. Viglione said. “Unlike others in our perceived category, we have enabled an alternative funding source with coinbase allocations.”
Zen offers secure messaging within the platform allowing users to exchange short messages. ZenTalk, another feature, is a protected communications network that facilitates one-to-many communications which can be permanently stored on the blockchain. Users can also publish to channels which are viewable to anyone with a channel capable wallet. ZenPub is anonymous publishing platform using GNUnet or IPFS while ZenHide helps users with the ability to circumvent blocking of cryptocurrency transactions using domain fronting.
“The Zen platform gives users autonomy over their own privacy,” Mr. Yabut said. “The Zen platform’s innovative design offers users the option to conduct shielded transactions that obscure information about sender and receiver, as well as the amount of the transaction. Users also have the option to perform transparent transactions.”
Network communications are encrypted between nodes, which provides certificate-based encryption connections for ZenCash wallet applications. The company plans to develop improved wallets for Windows, OS X, Linux, Android, and iOS. The total eventual ZenCash coin supply is 21 million. The reward halves approximately every four years incoordination with Bitcoin’s structure.
Zen will be governed by a decentralized autonomous organization (DAO) which will be funded by a portion of mining rewards. That DAO will also fund future development. Ms. Lippencott and Maple Ventures founder and CEO Steven Nerayoff are the first DAO officers.
For more information, the Zen whitepaper is available on zencash.io.
Tony Zerucha is the managing editor of Bankless Times.
A two-time LendIt Journalist of the Year nominee, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.
"The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."