Blockchain trilemma, a term coined by Vitalik Buterin, refers to the challenges of creating a scalable, secure and decentralized network. Blockchain developers often fail to prioritize full decentralization without compromising scalability and security.
Zenon – Network of Momentum (NoM) offers a fair approach to decentralized networks that users have long sought after in this area. NoM combines block grid and directed non-periodic graph (DAG) in its protocol architecture, which aims to combat the high transaction fees plagued by older networks such as Ethereum (ETH).
The network plans to change the fee model with Plasma, a 3D asset that acts as a gas for the network, and eliminates transaction fees completely. The more plasma users they produce, the higher the transaction speed they can achieve.
Zenon takes a two-currency approach with two major assets, ZNN and QSR, which work in synergy to secure the network. To create plasma, users must share QSR coins or provide valid proof of work (PoW). This in turn increases the overall security of the network.
In addition to plasma generation, QSR is used as a deposit for nodes, while ZNN is used as a network compatibility deposit, which ensures that transactions are valid and data is registered in the chain. The new dual ledger architecture provides high-level network scalability, and the hybrid Proof of Work / Proof of Stake (PoS) model provides high throughput and low latency dual consensus.
As is the case with most competing Tier 1 blockchains, voice infrastructure is only part of capturing user interest. To stimulate network members and expand the ecosystem, Zenon will allow anyone to create their own token on the network without writing any code directly from the Syrius wallet.
“The new code base, wallet and upcoming SDK will enable users, developers and companies to interact, create and create new opportunities for cryptocurrency adoption around the world,” a spokesman for the Zenon community told Cointelegraph.
“transition framework” for zApps
Zenon classifies applications that are decentralized, fully scalable, and networked as zApps. These mashups can fit into a wide range of applications, from decentralized finance (DeFi) to the Internet of Things (IoT). Limiting the network tool to a specific application will limit what the network aims to achieve at Momentum, the team said.
Users can join the network by managing Pillar and Sentinel nodes or by delegating and holding ZNN tokens.
In addition, thanks to the Zenon Token Standard (ZTS), custom tokens also inherit ZNN and QSR token sense properties.
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“Imagine you have a DEX application like Uniswap, but with ZTS instead of ERC-20: no more outrageous exchange fees and a generally better experience,” Zeno explained.
Following the launch of its Stimulated Public Beta Network, Zenon distributed over $ 500,000 QSR coins between May and November. The test network also paved the way for the implementation of a fully automated intracapsular catalytic mechanism.
In the weeks leading up to the launch of Alphanet, Zenon attracted its WarpDrive hackathon community with a prize pool of 100,000,000 plasma points – a ZTS token that can be converted to QSR when Alphanet launches.
The network also introduced the BSC Bridge and ZNN Envelope Liquidity Program (wZNN), where liquidity providers receive commissions from the pair wBNB / wZNN PancakeSwap (CAKE).
Growth in the planetary ecosystem Web 3.0
Zeno’s next big event will be the launch of Alphanet in November. The network envisages that when a user adopts its Momentum network architecture, it will evolve into a decentralized network with a multi-billion dollar user base.
Bitcoin compatibility (BTC) may play an important role in Zenon’s efforts to expand society, along with many other blockchain bridges in the future. The existing platform infrastructure will be upgraded to Zenon Fabric to attract more strategic investors and bring the platform to a global level.
The ZNN and QSR coins will be used in an advanced maturity algorithm that Zenon expects will result in mutually beneficial cooperation between society and leading industry players. The rest of the tokens will be issued to upgrade the existing zApps system and, ultimately, the accelerator for users, developers and businesses.
“Zenon will evolve into a global Web 3 ecosystem, underpinned by synergies between centralized network efficiencies.