Zen is a public blockchain, secured by PoW, with smart contracts and an unlimited number of assets.
It uses an “unspent transaction output” model like bitcoin. Instead of focusing on accounts and rules for accessing them, Zen knows about coins and rules for spending them.
The Zen protocol directly incorporates the state of the bitcoin blockchain, so it like a smart contract platform on top of bitcoin.
With the Zen Protocol anyone to create meaningful, secure, and reliable financial instruments.
One of the unique things the Zen Protocol does is separate the payment for creating contracts from the majority of money-transfer actions.
Zen’s contracts are guaranteed to execute without failing. An Ethereum contract, for example, can run out of gas and fail in the middle of execution. In Zen, contracts carry proofs that they finish running within a certain time, something only possible with an advanced system for formally verifying programs.
Zen also has first class tokens, tokens that can be held and transferred by users without having to interact with the contracts that issued them. With Zen, new assets are automatically usable by any existing or future contract.
You can find more details from Zen’s technical white paper.
Zen is conducting is token sale right now and it lasts until December 30. So far they’ve sold just over 10 million of 12 million available tokens. Tokens are needed to create contracts.
During the genesis distribution 20 million tokens will be distributed, the 12 million to contributors plus 6.5 million to the Zen Team and 1.5 million for reserves.
This is a mineable coin and can be merge-mined with bitcoin. The ultimate token supply will be 100 million.
This looks like a promising project, what do you think of the Zen Protocol?
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