Learning Zen- Release Date: May 23, 2017

in #crypto7 years ago

Zen is a platform designed for censorship-resistant communications and anonymous economic activity

Screen Shot 2017-05-02 at 4_Fotor.jpg

Zen will be the product of an intentional divergence of the zclassic blockchain, this will occur on May 23 of this year, that is 2017.

It’s important to note that the zclassic team will continue the development of both networks.
Zen is an evolution of the Zclassic codebase built by Zclassic's original developers aimed at primarily enabling intrinsically secure communications and resilient networking.

Is there really a need for another crypto coin that boasts privacy?

How will Zen differentiate itself from the competition?

Despite the growing number of cryptocurrencies that value privacy as their top feature, there has yet to be one that exists that can certify complete end-to-end encryption of the distributed network.

Zen is designed to do just this, not only for communications, but also as a means of sending money. Not only is Zen tackling the full encryption dilemma, but it’s also a completely encrypted, massively distributed storage system.
There is no cryptocurrency in existence that guarantees full end-to-end encryption of the distributed network. Zen is designed to be fully encrypted as a network and also as a means to send and distribute money.
Zen doesn't stop there though. It is also a massively distributed and fully encrypted storage system with endless possibilities.

How is Zen doing things differently than zclassic?

Well, the team behind zclassic learned a few things and they’re taking these lessons and applying them to zen.

Because zclassic was community funded and r eliant on independent donations, the team realized that this was delaying growth.
Since Zen doesn’t want to make the same mistakes twice, they are using a DAO-style governance model based upon proof-of-shares.
In the Zen network, 8.43% of the tokens are allocated for community development, marketing, maintenance, and the DAO. This ensures that there are always enough resources available for growth.

How can you prepare for the coming of Zen?

If you own any zclassic coins and you store them in a wallet that you control and have possession of the private keys, you can receive zen coins on a 1:1 basis if you import your private keys into the new zen wallet. They are also working with Bittrex so that if you hold any zclassic on that exchange you will also receive an equal amount of zen coin.

Additional Reading/Sources:

Zen homepage
BitcoinTalk Post Explains Zen
What is end-to-end encryption?
Harmonious Split from Zclassic

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Hey @heiditravels! The snapshot date to be qualified to receive Zen as a Zclassic holder is estimated to be May 18th May 17th around 10pm ET May 18th 1:20am ET on the 110,000 block so if people want both ZCL and Zen they should buy ZCL before then. Otherwise people can buy Zen after launch on May 23rd. Also Bittrex just announced support for the Zen split and so you can keep your coins on the exchange to receive Zen: https://bittrex.zendesk.com/hc/en-us/articles/115000201171-Support-for-the-ZEN-Hardfork

Updated: Date is May 17th around 10pm ET.
Updated again: Date should be around May 18th, 1:20am ET, but Bittrex deposit should be done by at least a couple hrs before that, but you should do it ASAP! You can follow the block # here to get a better idea when 110,000 is: http://aayanl.tech:3001/insight/

Yes, thank you for supplementing! Are you all set for the hard fork?

Anytime! Yeah it'll be exciting to follow the process. Yeah I think I'm going to send my coins to Bittrex to have them handle the split and make it easier for me. lol.

Updated: Correction on the Bittrex statement. I've been told it's 05:20 UTC on the 18th which is 22:20 EDT on the 17th! See above for estimated fork time.

A privacy DAO? The Cypherpunks would be proud.

i think so. Zen is a natural evolution of the cypherpunk ideals...

Oh... 9 monthes later - she still travels :-)
Awesome & greetings!

Zen is a great project. Have you heard of Swarm City yet? https://coinmarketcap.com/assets/swarm-city/
For the sharing economy.

Very interesting! Ping me next time you are on the PIVX Slack, we've got some discussions for ye.

Keep up the solid work!

Great overview of Zen, thank you. I do wonder, though, as cryptocurrencies gain popularity, how governments are going to react towards coins that tout things like 'anonymous economic activity'.

Great video Heidi! Remember to transfer your ZCLs out of exchanges to your wallet before 23 May ZEN fork. Also backup wallet.dat to safe location. You can use my unofficial wallet: https://github.com/fxminer/zclassic-windows-wallet/releases

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