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Zen Protocol (ZEN)

ICO

Zen is a platform for financial instruments without intermediaries.

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Overview

Project industryFinance Services & Banking
Hashing algorithmSHA-3

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What is Zen Protocol

Bitcoin integration. Zen Protocol watches the Bitcoin network. Anything that happens in the Bitcoin blockchain can trigger contracts on the Zen blockchain. Zen can act as a sidechain to Bitcoin, using a federated peg, collateral deposit, or, in the future, mechanisms like Drivechain. Zen Protocol uses the full Bitcoin consensus, storing a record of the valid Bitcoin chain with most proof of work.Multi Hash Mining. Multi Hash Mining is a new way of using many hash functions in Proof of Work mining. Each hash function gets its own difficulty, which adjusts over time to target a hash function ratio. The different hash functions don't have to be used in a set order: if too many blocks are mined using a function then its difficulty increases. Holders of the Zen Native Token can vote to say what the ratio should be. This creates matching incentives for miners and users of the Zen Protocol.Oracles. Our oracle solution is fast, efficient, and profitable for oracle operators. Oracles can commit to gigabytes of data in a single, 200-byte transaction. Oracle users then pay the oracle operator for each individual piece of data they want to use. The only data which gets written to the blockchain are those which users pay for.Native token use and issuance. Zen's native token is used to activate contracts. Contracts are pay-per-block, meaning they don't use network resources that they don't pay for. The token is also used to vote on what mix of hash functions should be used in Zen Protocol's PoW.

Details

Public sales: Nov 29, 2017 - Dec 29, 2017
Token supply: 12000000
Raised: 46,368,226 USD

Token info

Ticker: ZEN
Type: Utility-token
Token standard: ERC-20
Token price in USD: 1 ZEN = 2.79527568 USD
Token price in BTC: 1 Token = 0.000284 BTC
Token distribution:
12000 000 Byuers
6500 000 Zen Protocol team
1500 000 Reserved

Zen Protocol Roadmap

1
Q3 2016

IDEA IS FORMALIZED Adam, Nathan, Ronen, Sharon, and Ash come together. The idea of a UTXO based bounded computation language is formalized.

2
Q4 2016

TECHNOLOGY STACK IS CHOSEN Work begins. Started to work on how we do a cost model for contracts. We choose F* and start work on the contract language. Nathan presents Zen for the first time at the china-israel innovation summit.

3
Q1 2017

COST MODEL COMPLETED Start working on an elaborator. Start developing libraries.

4
Q2 2017

SMART CONTRACTS AND ORACLE IN C# Continue developing libraries, begin developing contracts. Integration of ZF*.

5
Q2 2017

SMART CONTRACTS AND ORACLE IN C# Continue developing libraries, begin developing contracts. Integration of ZF*.

6
Q3 2017

REFACTORING Developing contracts. Testing ZF* builds. Evaluate cost using dependent types and an exported cost function.

7
Q4 2017

TESTNET Implementation of: Decentralized multi token UTXO blockchain. Smart contracts with: Formal verification Computational Boundaries Compiled execution Active Contract Set GTK GUI and contract editor Headless client with a terminal user interface Contract explorer Template contract generator Oracle system Electron Crowdsale wallet Token sale

8
Q1 2018

RELEASE CANDIDATE We will take our current testnet and enhance its robustness: Refactoring Bitcoin Integration Improve the UX/UI experience: Insert the demo site to the wallet. Create a domain name system and a customized distributed hash table to assist in network.

9
Q2 2018

GENESIS BLOCK Multi hash mining Voting system Non outsourceable proofs + smart contract to assist miner variance. Difficulty discounts? Robust APIs and SDKs Project documentation Work with implementing the use cases of our strategic partners

10
Q3 2018

ECOSYSTEM BUILDING Implementation of multiple use cases and a high speed decentralized exchange Market research Hardware wallet integration Wallet overhaul: We want a multi seed cross platform experience The basis is a USB-C open dime style hardware wallet which can be inserted to a phone or computer. Mobile wallets Cross platform native clients Web wallet Additional template contracts Build a community of open source developers.

Social media

Zen Protocol web-siteZen Protocol TelegramZen Protocol BTCTalkZen Protocol TwitterZen Protocol Github

User rating:

5/5 ( 1 )
0

Zen Protocol rating

5.4
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