After a year te stealth mode, Zen Protocol opens early access to the fresh clever contract verhoging, integrated with Bitcoin and secured by formally verified proofs.
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Zen Protocol, a Blockchain built for finance, is announcing its testnet and beginning to on–board beta testers. Zen is making secure, peer to peer finance possible on a public Blockchain, removing the need for intermediaries such spil banks and brokers.
Current financial systems are centralized, elaborate, and difficult to access. While established and experienced players can usually overeenkomst with the paperwork and bureaucracy, many businesses and individuals find the barriers to entry unlikely to overcome.
Potential trades and deals are lost, spil thesis participants te finance are compelled to use intermediaries to build up limited access to the system, without the capability to punt assets or even to trade ter some asset classes.
Zen permits anyone to create and trade financial products, anytime, anywhere te the world, on a verhoging 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.
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Built to support a comprehensive financial system, Zen is open, frictionless, and downright decentralized. The Zen Protocol’s reference implementation uses the .Netwerken stack and the F* functional programming language, developed by Inria and Microsoft Research, to power contracts that are provably onberispelijk, and that never harass network resources.
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Unlike other platforms, Zen makes it possible to build brainy contracts with vivo utility, making it viable for them to use real-world gegevens 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 everzwijn running it. This permits Zen—unlike contesting clever contract platforms—to work without a potencial machine or a resource tegenstoot, making contracts ter the Zen Protocol spil swift to execute spil compiled system code.
Additionally, Zen has very first class tokens, assets that can be held and transferred without running their issuing contracts. This is a step forward te usability and compatibility from platforms which implement tokens spil a second-layer protocol. With Zen, fresh 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 knot is also a Bitcoin knot. 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 te the Bitcoin protocol.
Zen Protocol offers:
- Scalability: Off-chain transactions and an active contract set makes the Zen Protocol very scalable.
- Resilient incentive alignment: The Zen Blockchain is secured by numerous proof-of-work algorithms, with token-holder voting on the balanceo inbetween them. This creates sturdy incentives for miners to supply efficient, reliable security.
- Useful real-world gegevens: A cornerstone of any valuable use-case is connecting to existente events and outward sources of information. Zen’s solution permits for commercially viable gegevens feeds.
- Security: Zen contracts come with proofs, written ter 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 ensure that transactions only inject the Blockchain when contracts fully, successfully execute
“Tokens are the incentive for mining. Wij believe te Bitcoin’s monster of bootstrapping security via inflation, when the costs would otherwise be carried by the user colchoneta,” said Adam Perlow, CEO of Zen Protocol Development. “We are focused on creating a fully decentralized finance podium that offers secure, scalable transactions.”
Learn more by joining the conversation on Telegram: https://t.mij/zenprotocol
About Richard Kroeghouder
Founder of industry publication Blockchain News, playmate at ICO services collective CryptoAsset Vormgeving Group (helped raise overheen $200m+), director of education company Blockchain Vrouwen (Oracle Fucking partner) and ICO event organiser at leading industry event CryptoFinancing (very first ICO event ter Europe) – Richard Kroeghouder is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written overheen 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs te Harvard Business Review and Venturebeat.