ZenChain; Another Boom In The Market!
Think about a moment where everything you do is not hold up in a centralized site or place, think about it from your cellular communication network where you have all the records of your phone calls and SMS stored in your private cloud or system. Think about your medical records staying with you privately and you decide who to share them with, then finally, think about it when it comes to your finance.
Yes of course! We have seen a lot of these happening in recent years, Blockchain Technology, DeFi (Decentralized finance), and the recently popularized NFTs (Non-Fungible Tokens). In a world of plagiarism, where we have people looming around to steal already existing contents and claim rights, then copyrighting takes forever before a centralized body accredits you as the original owner or creator. It is tedious and exhausting, but what if there’s a better way, what if you can choose to protect your content on the internet or social media with just a few clicks on your phone or OS without the stress of looking for where to copyright?
And yes again! Here we have seen ZenChain launched by the ZenChain Foundation as a Blockchain uniquely built and geared towards Decentralized Financial applications and non-fungible tokens (NFTs). ZenChain provides incomparable high transaction throughput, reduced risk of errors, and intelligent feature development optimized for the accomplishment of financial services for both non-fungible and fungible tokens on the blockchain.
ZenChain features all applications supported for NFTs such as auctions, minting, and trading.
- ZenChain Auction: This creates a marketplace for digital users who owns goods, collectibles, digital art, gaming items, and other assets backed on Blockchain.
- ZenChain Minting: This provides flexibility and easy accessibility for game producers, artists, DeFi apps, and influencers to make NFTs with blade speed.
- ZenChain Rent: also provides NFTs owners to rent their contents or assets in a short time and some special situations. They can regain possession as the time frame elapses.
ZenChain is bringing good tidings to solve the problems faced for decades and centuries in the centralized sectors, and by creating unique solutions like Scalability, a high-throughput Blockchain Smart Chain with Tendermint Power, Bridge from Ethereum, Tron, Binance Smart Chain makes cross-chain DeFi and NFTs solution, Decentralized pricing oracles built-in, DeFi primitives built-in (Dex, lending & Borrowing, token IDO, insurance), and NFTs X Defi: (Bringing the power of NFTs to the DeFi ecosystem and DeFi to the NFTs).
ZenChain is designed and built using the Cosmos SDK which runs on top of the Tendermint Core consensus engine. It provides and features a scalable, high-throughout Proof-of-Stake Blockchain which is compatible and interoperable with Ethereum.
Some core features permit developers to leverage existing Ethereum ecosystem tooling and software to seamlessly and harmoniously anchor smart contracts which interact with the rest of the Cosmos ecosystem. Some of these core features of ZenChain are:
- High throughput via Tendermint Core
- Horizontal scalability via IBC (Inter Blockchain Communication Protocol)
- Fast transaction finality
- It is Web3 compatible
- Cross-chain solutions: ZenChain has two types of solution to allow token transfer across exiting public Blockchain;
IBC solution: which is a two-way connection between ZenChain and Cosmos family Blockchain using the IBC (inter-blockchain communication protocols).
Bridge solution: another two-way connect knitted between ZenChain and Ethereum, Polkadot, Binance Smart Chain, Tron, and many other chains with ZenBridge module.
- Adding to that, because the ZenChain is built and designed on top of the Cosmos SDK, it allows for exchange value with the rest of the underlying Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC).
ZenChain Unique Benefits In A Nutshell
- High-throughput for all transaction
- Development of a key application for the Defi and NFTs.
- Rapid development of dApps for decentralized finance.
- Safer and tightly secure Blockchain optimized for decentralized finance.
- Reliable governance.
- Minimal attack surface of financial smart contract developed on the platform.
- Thoroughly immutable by constant and periodic anchoring to the Blockchain
- Rapid implementation and development of dApps with dedicated calls specifically for finance applications
As the NFTs and DeFi ecosystems grow continually and exponentially, the disruptive technology of Blockchain as we all see will keep on getting better towards maximum utility. ZenChain offers a unique set of core features in the DeFi space and the NFTs ecosystem, by using NFTs as collateral in DeFi and using DeFi to mint NFT-Fi, then also creating cross-chain platforms for compatibility and interoperability across those platforms.
Written by Chris Barth