ZENCHAIN PROTOCOL: A DEDICATED BLOCKCHAIN OPTIMIZED FOR DEFI AND NFT

By adriaparcerisas | ICO Reviews | 13 May 2021

8fac1ef7a0da3d2df2af1e73e0b7673406aacbff52043a577421bcff3a933fb4.png

Introduction to Decentralized Finance

It is clear that nowadays, with the emergence of decentralized finance, cryptocurrencies take advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries. This gives the opportunity to investors to obtain more efficient investments not only for their favorite topics but also for the blockchian-related

284743f78886db980726c10ff21ec85141e03d504ee7ce04b79530e3868bba73.jpg

For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

However, when it comes to investing in cryptocurrencies, investors can buy and sell but little else. Because investing in tokenized assets has been unreliable to date, investors have had limited options when it comes to trading them. For this reason, the project I present to you today is Zenchain Protocol (http://www.zenchain.co/), a blockchain-based project dedicated to DeFi and NFT solutions to provide the needs explained above.

Definition

ZenChain (http://www.zenchain.co/) is a dedicated blockchain specifically optimized for DeFi and NFT applications. Its protocol provides high transaction performance, lower risk of errors and intelligent feature development specifically for financial services fulfillment for both fungible and non-fungible tokens within the blockchain ecosystem.

ZenChain offers some solutions to solve the aforementioned DeFi problems. First, it offers scalability, high-performance blockchain with Tendermint Power, an Etherum bridge, Tron, Binance Smart Chain (BSC) makes DeFi and NFT cross-chain solutions and built-in DeFi primitives.
0f27bf3ea2a27d854b56596c7155397daf465b56c92347a76e35b3618062d0c6.png

In addition, the Zenchain Protocol also brings solutions for non-fungible tokens (NFTs) as applications such as another asset in a coin exchange house, rental of NFTs, as well as the power of NFTs to the DeFi ecosystem and DeFi to NFTs.
133acd41af0153e102a59423f1a67a596b86a30a108dbfde711b2e5582ce5364.png

Features

Scalable, high-performance blockchain: Proof-of-Stake, built with the Cosmos SDK running on top of the Tendermint Core consensus engine.
Cross-chain: Cross-chain as a bridge between Ethereum, BSC, Tron....
Built for Defi and NFTs: With built-in DApp core for Defi and NFTs.
Supports smart contracts: ZenChain supports smart contracts, enabled by CosmWasm, EVM technology.

Benefits

The Zenchain Protocol is a dedicated application development for DeFi and NFTs that offers high performance for all transactions, more secure blockchain specialized for DeFi, rapid development of dApps with a minimum attack surface for financial smart contracts. Besides, it provides a government reliability highly immutable.

Non-fungible token applications

Minting: Speed of sheet to create NFTs.
Auction: The marketplace for user-owned digital goods which includes collectibles, gaming items, etc.
Rent: Marketplace where owners of NFTs do not need to sell their NFTs, only use them for rental.

NFTs X DEFI: The idea of creating this conjunction works in two ways:

1. Use of NFTs as collateral in Defi: full support of cross-chain NFTs and Def, allowing NFT owners to be more powerful with their NFTs.
2. Use of Defi to mint NFT-Fi: NFT-Fi will be a non-fungible token with DeFi traits and will be minted providing liquid to DEX or lending systems.

Token details

ZEN is the native token of the Zenchain Protocol and is built on top of BSC network. BSC is a blockchain network built for running smart contract-based applications, which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC. What is special about Binance Smart Chain is its low fees and fast transaction speed, but what is even more special is its compatibility with EVM (Ethereum Virtual Machine). Due to EVM compatibility, DApps developed on Ethereum can be ported (imported into Binance Smart Chain as-is), and Ethereum wallets like Metamask can be used as-is.

Symbol: ZEN
Network: BSC
Type: Bep-20/ERC-20
Maximum supply: 100.000.000 ZEN

Bounty program

The project gives the opportunity to earn ZEN tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (https://bitcointalk.org/index.php?topic=5336756.0), where you can access the link in order to see what are the conditions to become an early Zenchain contributor and start acquiring tokens.

For more information about the project, you can visit and read their LitePaper available here (https://docs.zenchain.co/). You can also stay tuned in their official Telegram Channel (https://t.me/Zenchainofficial). I hope you liked the post and soon I'll send you new ones.

Roadmap

2a9765e018dff22f54653afde8e196a442182006536f7f8e791a058670716bf0.png

Powered by...

Conclusion

It is a big project with very interesting expectatives to disrupt the cryptocurrency problems like curretn DeFI and NFT main problems. The idea to create the bridges between different platforms is so relevant and could be explosive for the market. Furthermore, the project has been powered by big projects like Solana, Polkadot, Ethereum, Tron, BSC, among others.