What is ZenCash (ZEN): Details You Need To Know!

What is ZenCash (ZEN): Details You Need To Know!

It is always good to see an alternative cryptocurrency entering the market with different models and to make a positive impact. Just like Bitcoin, ZenCash (ZEN) is another cryptocurrency that has an intention to lead the technological forefront & contribute to humanity through innovation. Well, most of the people think, ZEN is a cryptocurrency that ensures owner’s digital assets and communication transactions but it has a lot more to offer. So, let’s understand what’s ZenCash, what it has to offer you and other details you need to know about it.

What Is ZenCash?

ZenCash is a secure platform that is created for users to give privacy and security while making the transaction and off-the-grid transactions to other users. It is a secure messaging service, decentralized autonomous organization and reliable platform for communication and publishing. The aim behind creating ZEN is to make an open and flexible private platform built on blockchain technology to build a complex system that works far beyond the transactions. According to the secure messaging service technology developers, the anonymity is guaranteed by zk-snarks.

How Does It Work?

Zen uses protected options that lets the users safeguard their transactions with the anonymous ‘z’ address, which means, the transaction will be entirely private or transparent with the pseudonymous ‘t’ address.

The new cryptocurrency ZenCash includes a secure messaging service within protected and safeguarded transactions that entirely defend user identities.

The Systems Responsible For It:

zencash system

1. ZenHide:

The ZenHide has the capability to circumnavigate crypto-commerce blocking with the help of the domain overlook.

2. ZenPub:

It is an unidentified document publishing platform with the help of IPFS, it is used in the works in tandem with ZenCash development.

3. ZenChat:

ZEN already owns a messaging feature. However, no wallet has taken the benefits of the available feature but with ZenChat, this feature can be used by customizing secure communication network.

History Of ZEN:

history of zencash

ZenCash is basically a great grandson of Bitcoin cryptocurrency. Yes, you heard us right!  Bitcoin, was the prime mover of cryptocurrency, wherein ZenCash was created from ZCL (ZClassic) that was taken from another crypto currency ZEC (ZCash). In fact, ZCash was also a replica of Bitcoin. So, the new cryptocurrency ZenCash was introduced to accomplish their goals. That goes to show ZenCash is a Bitcoin that has an extra layer of security and secrecy with an aim to accomplish various goals.

See Also: Top Feats That Will Rekindle Your Faith In Cryptocurrency

ZenCash Wallet Options

zencash wallet option

If you’re looking forward to investing in ZenCash, then the company has offered plenty of wallet options to choose from. You can choose from the official wallets as well as with the third-party wallets. There is the list of the official wallets you can use like Zen wallet (Recently it got new private and secure messaging service ), Zenpapperwallet.com, MyZenwallet.io, Arizen Wallet (LiteBlockchain).

Now, let’s move forward to third-party wallets, Coinomi (multi-currency wallet), Ledger (mobile hardware wallet), Xeeda (mobile hardware wallet), Paytomat (mobile wallet).

ZenCash Exchanges:

zencash exchange

It is also listed on Bittrex, Coss, Cryptopia, UPBit, Indacoin, TradeSatoshi, coinmonkey and Evercoin (anonymous instant exchange).

Roadmap Of ZenCash:

In 2017:

ZenCash was introduced on May 30th, 2017. The core update of the ZenCash was the Blockchain enhancement and replay protection. The achievements of ZenCash are listed below:

Arizen desktop and mobile wallets.

Supported by TOR.

Payment system for secure node operators.

TLS/SSL (SSL cert for node encryption) certificate integration was applied.

Improvement of the ZenChat (always known as ZenTalk) finished and integrated to SwingWallet. In fact, the ZenChat allows 1 to 1 to various safe (private) and constant chat sessions that leverage the memo field of protected transactions.  It is an amazing feature that should be developed and ported on mobile wallets.

In 2018:

It is listed on an Asian exchange Binance.

Domain Fronting.

Working on iOS Wallet.

ZenCash has its eyes on enhancements of Secure Node system.

Community

It is supported by various online platforms. Twitter, Discord, Telegram, Reddit, Bitcointalk, YouTube, LinkedIn, Facebook, Bitcoin Talk and GitHub are some of them.

Now Trade Zencash (ZEN) With Binance Cryptocurrency Exchange

ZenCash (ZEN) is now available for trading on Binance, the top volume cryptocurrency exchanges in the world. Moving to the world’s best, biggest and most visited exchange, Binance cryptocurrency exchange, is a step taken to attract users across the globe.

Binance cryptocurrency exchange said the trading will initiate with the pairs like ZEN/ETH, ZEN/BTC, and ZEN/BNB. In fact, according to the company, users can deposit Zencash and get ready for the trading.

Benefits Of Binance Cryptocurrency Exchange:

The Binance cryptocurrency exchange comes with tons of features for its users to make trading Zen easier than forever. Moreover, it offers user-friendly interface, multilingual language feature and is capable of processing orders at a high speed.

In fact, Binance raised around fifteen million dollars in July 2017 Initial Coin Offering for its ERC20 BNB token. It is delivering a safe and liquid marketplace for cryptocurrency trading in almost all the available cryptocurrencies. The giant cryptocurrency exchange has become of one of the quickest cryptocurrency exchanges by managing the 1.4 million orders in each second.

The bottom line:                                      

It is a secure and private platform for messages, money, and media, which is expandable, untraceable and mineable.

See AlsoFamous Bitcoin Mining Scams You Should Know About

Bhoomika Basera is an analyst and blogger at Systweak Software. She likes to explore and discover latest technological updates and hacks.She is a backpack traveller and loves to explore cities and off beat places!

Show your support

Clapping shows how much you appreciated Bhoomika Basera story.

0 thought on “What is ZenCash (ZEN): Details You Need To Know!”

Leave a Reply

Your email address will not be published. Required fields are marked *