Do you know about Blockchain and its high productivity rate? Let’s see a wonderful company named the ZenChain Foundation which is developing ZenChain, a blockchain specifically dedicated to decentralized financial (DEFI) applications and non-fungible tokens (NFTs). By focusing on the functionality of the blockchain and dedicating it specifically to DEFI and NFTs, ZenChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development specifically for the fulfillment of financial services for both fungible token and non-fungible token (NFT) on the blockchain.
Decentralized finance and its uses
Decentralized financing is a form of blockchain-based financing where there is no central financial intermediary such as a broker, stock exchange, or bank offering traditional financial instruments, but smart blockchain contracts are used, Ethereum being the most common. Decentralized finance will change your understanding of the financial system. Decentralized finance (DeFi) is likely to have a significant impact on the way banks operate in the future - and even have the potential to change the overall structure of the financial system at the macroeconomic level.
Unique Approaches of Zenchain
ZenChain approaches decentralized finance as a specific and critical segment of the blockchain community. ZenChain is a dedicated blockchain that is optimized specifically for DeFi and NFT applications. ZenChan does contain all core DeFi applications built in the core of the chain, not written by smart contracts like swap, lending, and insurance dapp. ZenChain also contains all applications supported for NFTs like minting, auctions, and trading. And special, with ZenChain, your NFTs can use it as collateral in Defi to make a loan or staking in a pool to earn an extra token.
Common Problems and Zenchain’s Solution
A big problem with DeFi projects is the scalability of the host blockchain. Two major problems arise from the scalability problem.Transactions take a long time to be confirmed. The transaction is extremely expensive at times of congestion. Ethereum at full capacity can process about 13 transactions per second, while centralized counterparts can process thousands and thousands of transactions.
Solution provided by Zenchain
Scalable, high-throughput Blockchain
ZenChain is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It is built using the Cosmos SDK which runs on top of the Tendermint Core consensus engine. Let's see a bit about Tendermint power in the blockchain.
Tendermint Blockchain in Zenchain
Tendermint consists of two main technical components: a consensus blockchain mechanism and a common application interface. A consensus mechanism called Tendermint Core ensures that the same transactions are written to each computer in the same order. Tendermint spins through a validation kit, viz. Offer blocks in a weighted round manner. Bet a lot more, that is. The right to vote has been given to them by examiners, the more they have weight and proportionately the more often they are elected as leaders.
Key features
- Here’s a glance at some of the key features of Zen Chain:
- Web3 compatibility
- High throughput via Tendermint Core
- Horizontal scalability via IBC
- Fast transaction finality
Cross-chain solutions
ZenChain is two types of solution to allow token transfer across exits public blockchain:
Bridge solution: Two way connect between ZenChain and Etherum, Polkadot, Binance SmartChain, Tron .. and more chain with ZenBridge module
IBC solution:Two-way connection between ZenChain and Cosmos family blockchain using Inter-blockchain Communication protocols.
Zenchain builds decentralized web applications on the Ethereum blockchain for P2P financial, trading, and security services. Their products are solutions for the real problem. You may have seen and tried different strategies, platforms, and account managers. But you could have lost in the stock market. until you were introduced to this new strategy that got you back on track. It will help you in making consistent growth on all of your trades. I truly recommend this diligent and honest project with a positive mindset.
To Know More:
Website :http://www.zenchain.co/
Channel :https://t.me/Zenchainofficial
Medium :https://medium.com/zenchain-protocol
Facebook :https://www.facebook.com/Zenchainofficial
Twitter :https://twitter.com/zenchainco
Whitepaper: https://docs.zenchain.co/
Telegram :https://t.me/zenchaingroup
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