What is ZEN? What is ZEN coin

Zen Cash (ZEN) offers enhanced anonymity and lower fees for shielded transactions, leveraging community governance and partnerships to foster a privacy-centric ecosystem.

Sep 30, 2024 at 07:53 pm

What is ZEN? Understanding the Zen Cash Cryptocurrency

1. Overview

Zen Cash (ZEN) is a decentralized privacy-focused cryptocurrency that is a fork of Zcash. It was launched in May 2018, preserving the technology and fundamental principles of Zcash while introducing certain enhancements and governance changes.

2. Privacy Features

ZEN's primary focus is to provide privacy and anonymity to its users through:

• Shielded Transactions: ZEN offers fully confidential and untraceable transactions via a feature known as "shielded transactions." These transactions conceal the sender, recipient, and amount involved.
• Anonymous Sender: Shield transactions allow users to send ZEN without revealing their identity, unlike Bitcoin transactions that link addresses to balances.

3. Enhanced Technology

ZEN introduces technical upgrades compared to Zcash:

• Lower Transaction Fees: ZEN's fees are significantly lower than those of Zcash, making it more affordable for users to conduct shielded transactions.
• Faster Block Times: ZEN's block times are approximately 2.5 minutes, reducing transaction confirmation times compared to Zcash's 10 minutes.
• Improved Proof-of-Work: ZEN utilizes the Equihash 150,5 algorithm, which is considered more efficient and secure than Zcash's Equihash 200,9 algorithm.

4. Governance Model

Unlike Zcash, ZEN employs a community-governed governance model.

• Community Voting: Holders of ZEN tokens have the power to participate in voting on proposed changes to the network, including upgrades, fee adjustments, and policy initiatives.
• Transparent Funding: ZEN allocates a portion of its block rewards to fund development and initiatives proposed and approved by the community.

5. Use Cases

ZEN coins are designed for various use cases that uphold privacy:

• Confidential Payments: Users can make discreet and anonymous online and offline payments without disclosing their financial activities.
• Privacy-Enabled Wallets: ZEN can be stored and managed in privacy-preserving wallets that shield transaction details from view.
• Governance Participation: ZEN holders can actively participate in community governance and decision-making processes through voting.

6. Partnerships and Adoption

ZEN has established partnerships with various organizations and entities to enhance its visibility and accessibility:

• Private Bridge: ZEN is integrated with Binance Smart Chain, enabling users to bridge their tokens between the two networks for faster and more affordable transactions.
• Hardware Support: ZEN is supported by several hardware wallets, including Trezor and Ledger, providing secure and convenient storage of tokens.
• Exchanges Listing: ZEN is listed on several major exchanges, including Binance, OKEx, and KuCoin, facilitating easy accessibility for users.

Conclusion

Zen Cash (ZEN) is a privacy-centric cryptocurrency that offers enhanced anonymity, faster transaction times, and lower fees compared to Zcash. Its community-governed model and partnerships ensure its long-term sustainability and adaptability to evolving user needs. ZEN enables confidential payments, protects user privacy, and empowers its community through active participation in its governance and development.