These are exciting times for investors in cryptocurrencies and blockchain. We are seeing a paradigm shift in the way online transactions are executed amongst communities and between individuals. This game is all about trust, scalability, faster processing and secure payments.
Zen Protocol, a later entrant in the cryptocurrency market, promises to reinvent it by bringing new technologies and the trust factor. This Company recently launched their crowdsale with a price of the Zen Protocol Native Token set at 0.000284 BTC, or about 3520 tokens per Bitcoin.
Many potential investors are still having a hard look at the secure nature of the online transactions in the bit-currency world. The horror of the loss of $150 million a few weeks ago in the Parity Multisig Wallet powered by Ethereum is still fresh. The security protocol in Zen Protocol removes many basic flaws in transaction validation and library algorithms. Investors can stay relaxed while transacting with others. The Company is putting in every effort to making the transactions secure by providing their developers the tools to verify their contracts regularly and quickly.
Zen and Scalability
Scalability is a major factor in the performance of the technologies supporting blockchains. Bitcoin technologies can process 3-4 transactions a second. Ethereum can process 6-7 transactions per second. Theoretically, both these technologies can process more trades, but Zen Protocol takes the game to a higher level. During periods of high trade volumes, there can be sluggishness in transactions. This can cause erosion of investor confidence during ICOs.
With Zen Protocol, various sets of transactions run in parallel. This means there is a potential for fewer participants to be turned-off by bottlenecks in processing their transactions. Cryptocurrency experts say that parallel, compiled transactions take just 1/10th of the time taken by Ethereum technologies. Zen Protocol fully utilizes the power of modern multi-core systems.
In order that transactions take place regularly, blockchain must use resources at a moderate and controlled rate. Blockchain are basically ledgers that consume limited resources for computing. The problem is how to get consensus on these limits.
Ethereum uses a resource called ‘gas’ in its transactions. Each smart contract runs on ‘gas’. But what happens when a smart contract runs out of this resource? This can lead to incomplete and incorrect information being stored in the ledgers. From a user point of view, this situation can lead to confusion and a lack of transparency.
Zen Protocol solves these kind of problems by ensuring that smart contracts keep always running. They will never run out of ‘gas’ after they have declared the total magnitude of resources that they need. In simple language, the contracts in Zen Protocol never run out of resources. This implies that transactions based on this technology are foolproof and traders do not have to pay anything extra. The Zen Protocol, ultimately, is inexpensive, faster and dependable for investors.
With the above advantages in place, Zen Protocol will reinvent this market.