Zenchain Protocol
Binance Smart Chain is a chain technology developed by Binance and aims to unravel various problems within the Ethereum network. Because it’s documented that the present Ethereum network is inefficient and has many problems like long transaction processing, high fees, and a number of other other problems. Problems like these hinder the event of worldwide cryptocurrencies. Therefore, Binance Smart Chain is present as a sequence technology which will solve various problems, like being more efficient, lower fees, faster transaction processing, and supporting the creation of a sustainable decentralized finance ecosystem.
What is Zenchain Protocol
Zenchain Protocol mainly uses Cosmos to enhance the performance and reliability of blockchain technology. Because because it is understood that Cosmos can improve interoperability between blockchains and this is often closely associated with the solutions offered by the Zenchain Protocol. But not only Cosmos, Zenchain Protocol also use BSC, Tron, Polkadot, and Ethereum to optimize and improve the performance of Zenchain blockchain technology.
Zenchain Protocol is a product launched by the ZenChain Foundation which can function as a blockchain specifically dedicated to decentralized financial applications and non-fungible tokens. Because because it is understood that these days it’s the trend of DeFi and NFTs, and these platforms need a selected blockchain solution for his or her platform, and Zenchain Protocol is that the answer.
In the Zenchain Protocol, users can find various features which may optimize the DeFi platform and NFTs. Zenchain Protocol will provide technology for the DEFI and NFTs platforms which will streamline and improve the performance of their platforms. ZenChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development which is that the solution needed for the present DeFi and NFTs platforms.
High-bandwidth scalable blockchain Blockchain
ZenChain is a scalable, high-throughput, Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It is built using the Cosmos SDK, powered by the Tendermint Core consensus engine.
ZenChain allows running vanilla Ethereum as a blockchain dedicated to the Cosmos application. This allows developers to have all the desired features of Ethereum and, at the same time, benefit from Tendermint’s PoS implementation. Additionally, because it is built on top of the Cosmos SDK, it will be able to exchange value with the rest of the Cosmos Ecosystem via the Inter Blockchain (IBC) Communication Protocol.
Cross-chain solutions
ZenChain are two types of solutions that allow token transfers across public blockchain exits:
Bridge Solution: Two-way connection between ZenChain and Etherum, Polkadot, Binance SmartChain, Tron.. and many more chains with ZenBridge module
IBC Solution: Two-way connection between the ZenChain family blockchain and Cosmos using the Inter-blockchain Communication protocols.
Using NFT as Collateral in Defi
The special feature of ZenChain is full support for cross-chain NFTs and Defis. ZenChain allows NFT holders to be more powerful with their NFT, just not collectible, users can put their NFT as collateral in lending and borrowing app and can borrow a number of tokens can be replaced (ERC20, BEP20, TRC20…) to use another defi strategy.
The price of the NFT is determined by the Auction system. That means only users and NFTs using the ZenChain auction system can use their NFTs as collateral.
ZenChain allows users to borrow up to 50% of the highest bid.
Token IDO
Token Name: ZEN
• Token Type: BEP20 & ERC20
• Token Name: TBA
• Total Token Supply: 100,000,000 ZEN
• Initial ring supply: 2,500,000 ZEN
• Initial Market Cap: TBA
• Unsold / Unused Tokens: Burn
In Conclusion
Zenchain Protocol is a protocol especially developed for DeFi platforms and NFTs, which will solve various problems and improve the performance of the platforms. Supported by Cosmos technology, which is one of the best blockchain technologies which enables the communication between blockchains in the most efficient and fast way, Zenchain Protocol is confident of providing optimal features and solutions, which DeFi and NFTs platforms can rely on.
Website :http://www.zenchain.co/
Medium :https://medium.com/zenchain-protocol
Twitter :https://twitter.com/zenchainco
Litepaper: https://docs.zenchain.co/
Telegram: https://t.me/zenchaingroup
Facebook : https://www.facebook.com/Zenchainofficial
author :
- BTT : estatino81
- Forum Profile Link : https://bitcointalk.org/index.php?action=profile;u=2860791
- BEP-20 address : 0xe52C061832CFc71B69C1C51fCCA71C6C6bC40A62
