Zen Protocol (ZEN)

Zen Protocol (ZEN) widget

ICO date: 29.11.2017 - 29.12.2017
Industry: Financial Services
Description:

Zen is a platform for financial instruments without intermediaries.

Features:

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.

Website: www.zenprotocol.com
Basic review: Basic review
Whitepaper: Whitepaper

Rating Review and Analytics

Investment rating
NA
Hype score
Low 1.9 / 5.0
Risk score
Medium

Post-ICO

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Post-ICO Rating


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Zen Protocol Basic Review
28.12.2017
The ICORating Agency gives the Basic Review of the Zen Protocol Project.

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See also