Zenon Network : Hybrid Space for Decentralized Applications
We are living in a digital age of sound bites and buzzwords. An age where even complex technological solutions are reduced to five words or less. As a result, we are witnessing a rise in cunning businesses attempting to piggyback the so-called crypto boom. Some are even doing this by rebranding with ‘blockchain’ in their name.
Predictably, using buzzwords such as blockchain technology to attract investment will only deliver short-term gains. Ironically such actions are responsible for the branding issues of this tech. Leading to one of the reasons why many are wary of blockchain. Meanwhile, emerging trends suggest that distributed ledger is providing value and tangible results without the hype.
People often think of blockchain technology and distributed ledger technology as the same. It’s easy to see why many would think along those lines. Now it is time to scratch beneath the surface and see the truth behind the buzzwords. Although these terms have become entwined over the past few years, it is essential to distinguish the two from one another.
What is Zenon ?
Despite confusing acronyms such as DLT in financial and Fintech circles, the good news is that this technology is relatively easy to understand. A distributed ledger is a database that exists across several locations or among multiple participants. By contrast, most companies currently use a centralised database that lives in a fixed location. A centralised database essentially has a single point of failure.
Zenon is an evolutionary step in distributed ledger technology, enabling an efficient trust layer for transfer of value and data globally.
Based on The Network of Momentum, it proposes a new type of architecture designed to overcome the limitations of current blockchain or DAG based cryptocurrencies.
Zenon aims to develop an open , worldwide decentralized network using a highly scalable consensus protocol based on a mathematically verifiable cryptographic mechanism called “proof of momentum”.
What are the core technologies behind Zenon ?
Network of Momentum
Network of Momentum is the technology underlying the zenon cryptocurrency, decentralized cyberspace sharing a global distributed cryptographic ledger that is replicated across participating computer nodes. Netwok of momentum designet to scale out by expanding currenct processing constrainst linearly with te number of nodes without compromissing decentralization while preserving long term security properties under a permission-less operation.
zApps is to empower every developer to build and deploy powerful dApps on a network based on a decentralized, scalable and secure protocol — the Network of Momentum.
The idea behind zApps is to empower every developer to build and deploy powerful dApps on a network based on a decentralized, scalable and secure protocol .
Current available solutions to create and maintain decentralized applications are ineffective in terms of:
- computing resources (slow and inefficient storing and processing)
- time (steep learning curve for new programming languages like Solidity)
- exposure (user adoption is a known barrier for dApp devs that want to earn for a living)
What Advantages of Zenon ?
- Full Decentralization
Zenon does not rely on any trusted third parties and has no single points of failure .
- Shard health
Each shard regularly and correctly handles transactions associated to it .
- Secure transaction
Each transaction is committed atomically or eventually canceled,intra and/or inter shard.
The throughput is linearly dependent to the number of validators participating in the network .
- Low Latency
Zenon facilitates fast confirmations times.Because running nodes will consume resources such as electricity, bandwith,storage and computing power in order to validate transactions.
Zenon’s purpose is to redefine the status quo of dApps platforms by letting it thrive to an ecosystem of itself, built by a passionate community of developers and establishing the Network of Momentum as the ground level of a new decentralized Internet.
Zenon a cryptocurrency based on a novel and secure sharding protocol for a permission-less distributed public digital ledger . At it s core , the protocol is diferent from blockchain implementations in a way that it doesn’t gather transactions in batches and it enables a non-probabilistic finality on transactions . The network will be deployed in a twostep process detailed below . during the first phase,known as the pillar formation phase , an initial set of nodes called pillars will be created to sustain an incipient version of the network.