Review on Zen Protocol by LUIS RIVERO R
A side chain to the BTC
Zen Protocol is a cryptocurrency configured from scratch, destined to tokenize values, it focuses on compatibility with other chains and can create side accesses to these, being an alternative to the use of ETH to create smart contracts and connections with other chains, making improvements in consumption and use of the resources available through the network by integrating with BTC, opening the possibility of creating true decentralized payment methods regardless of the origin and original blockchain.
-The smart contracts are verified according to the possibility of use of resources of the person placing the order, avoiding problems of delays or errors something that usually happens in Eherium, that is, the request is sent to the network and this agreement to the mining capabilities Indicates the amount of resources the transaction needs.
-One of the important aspects named in its technology is the integration with the bitcoin chain since Zen and its chain can convert any transaction in the bitcoin chain into a smart contract. Although it is not clear how this is processed, I believe there should be more data related to this point. Since this information is not up to date, it is impossible to know if the network actually performs this procedure.
-Offers by means of smart contracts the tokenization of financial instruments, creating a really decentralized stock market where trust is one of the fundamental values.
-According to its block processing capacity, mining is verified
In general, this network is an intermediary between BTC, Etherium being Zen Protocol the central part of all this network created from scratch, allowing compatibility and interaction between several assets in a simple way without resorting to exchanges or centralized entities that put our assets at risk and the User privacy, however, this platform does not have many use cases, it does not have assets available in its maimnet, that is, for now there is no value tokenized or backed up in a smart contract, making Zen protocol really unnecessary, that is now There is no real need to have this asset in our portfolios until its use is feasible, for now it is only an asset storage asset but without much commercial value and the latter feature is supported by the small number of exchanges that have this asset listed .
Pros
- It is possible to access and use your mainnet.
- Create contracts and tokens at a lower price.
- Block processing and contract verification through advance mechanisms.
Cons
- It does not have side chains.
- It has large competitors, as well as other assets.
- It can be found in a single exchange listed in Coinmarketcap, with a relatively small volume.
