Why Zenon?
I used to really be into Game of Thrones. We can take some stuff from it and apply to crypto. There are a lot of blockchain companies around who are all competing to be the King of the blockchain world.
No matter how confident one feels about their blockchain / web3 platform of choice, we can’t accurately predict the future with 100 percent certainty. At this point the name of the game is speculation. Educated speculation may be a better term but it’s still speculation.
We have quite a few Blockchains to choose from for building web3 apps on both with and without smart contracts. Ethereum is the current King. The Binance Smart Chain is the second most popular and basically a centralized copy of Etherthum without the crazy high gas fees. Then there is Texas sized number of other blockchains to choose from. (XRP, Steller, Zilqua, Harmony One, Algorand, Tezos, XTZ, Polkadot and NEM/Symbol to name a few)
In this article I’m going to dive into both the technical and PMO side of Zenon and why I think Zenon will be the dominant platform we use in the future. Don’t go out and buy ZNN after reading this. Before doing that visit their website and social media and decide for yourself if it’s worth investing in.
Zenon has two Community generated AMA’s that you should read if you haven’t yet. AMA 1 and AMA 2
Age of Project — The project was quietly announced on a bitcointalk forum post on May 25, 2018. Which has since been moved . Crypto/Blockchain is still very new and to have a project stick around for 4 years is the exception and not the rule. Most of the coins and tokens on the market today will not be around 5 to 10 years from now.
Focus on Bitcoin — Weather you hate it or love it, Bitcoin is still by far the king in the crypto world. Other blockchains have found solutions such as creating a wrapped version of bitcoin or a token pegged 1:1 to bitcoin. None have found a way to provide bitcoin interoperability that I am aware of.
Funding — This ties in with my first point. They didn’t have a traditional ICO or other funding. They had people send bitcoin to a wallet and promised to return it within 2 years along with ZNN. With something called xStakes. (Which sounds oddly like a smart contract on the Bitcoin network) They paid all of this initial bitcoin back.
Minimal Marketing — I’ve come across a lot of different crypto projects that I swear have a higher marketing budget than they do for their actual product. Lots of flashy marketing targeted properly can pump up the price of a coin pretty quickly but that is not sustainable. Zenon has focused on building a quality product and marketing will come in time.
Whitepaper — Zenon’s whitepaper is very technical and takes a few reads before you can really understand it. It has two key components to it. The first is a deep research of other blockchains that are currently available to determine limitations and failures of each. The second component of it is how they will build their blockchain to solve these problems.
Delivering results — They have delivered on what they say. Starting with paying back everyone who sent bitcoin. You can see a list of everything else on their project tracker page here .
Decentralization — Ties into some of my other points. Satoshi released bitcoin with a huge focus on being decentralized which is at the forefront of the Zenon Network.
