Introduce:

These days we often hear about the DeFi protocol, which is a protocol that takes blockchain features to another level. DeFi is a more reliable protocol to use in financial cases. DeFi features that can maximize returns from crypto investors and enthusiasts like swaps , staking , and lending. Not stopping there, Defi is doing its best to race with the development of the cryptocurrency market. Typically, in recent times, DeFi has joined with NFT to create a blockchain that can help improve its applications, Zenchain. ZenChain is built using the Cosmos SDK running on the Tendermint Core consensus engine. Here ZenChain Foundation is developing a special blockchain dedicated to decentralized finance (DEFI) applications and non-fungible tokens (NFT). By focusing on the functionality of the blockchain and dedicating it specifically to Defis and NFTs, Zenchain provides unprecedented high transaction throughput, reduces the risk of errors, and develops special intelligence to perform services. financial services for both fungible and non-fungible tokens (NFTs) on blcockchain.

While cryptocurrencies have attracted billions of dollars in investments, decentralized financial services are lagging. When it comes to investing in cryptocurrencies, crypto investors can buy and sell, but that all. Initial efforts to create peer-to-peer lending and asset tokenization have so far proven partial and unreliable, so investors have a lot of limited options when it comes to investing in assets. their crypto assets. The potential is huge to offer financial services in cryptocurrencies, the same way they are offered in fiat.

So what is Defi and what features of Defi contribute to the development of Zenchain?
Defi simply understands a decentralized financial system that is operated on a decentralized network. It bypasses some intermediary institutions and regulations, and thereby makes it easier and more efficient for financial products to develop in the cryptocurrency market. In order for Zenchain to develop effectively , Defi also plays a big part.

• First, non-custodial financial services allow participants to take full control of their funds at any time.

• Second, DeFi permissionless nature allows anyone to interact with financial services without having access censored or blocked by third parties.

• Third, DeFi is publicly verifiable, which means anyone can check the status or the protocols - for example, they completely collateralized/sane.

• Fourth, financial services can be arbitrarily created so that new financial products and services can be created similar to how one can form new Lego models based on a few basic building blocks.

DeFi has grown rapidly, from around $600 million in total value locked (TVL) in early 2020 to over $42 billion in February 2021, with the most capitalized use cases being in world lending. mortgages, which account for about 48% of TVL, and decentralized exchanges (DEX), which account for about 34% of TVL as of January 2021. In turn, this increase resulted in 24-hour volume on the decentralized crypto-asset exchange, surpassing the large centralized crypto asset trading volume for the first time.

The main problems that Blockchain is facing

As everyone knows, trading is one of the important elements of the cryptocurrency market. When starting to choose to invest, every investor must carefully consider the transaction issue. High transaction fees and congestion in transactions are problems encountered in most crypto projects. And Zenchain is no exception because it has just launched and the number of customers pouring into investing is increasing rapidly every day.
Besides, the smart contract is the place that provides the terms of service and agreement between the parties . If there is the slightest mistake in the code of a smart contract, it can cause billions of dollars in losses . Because Insurance protects investors in the event of hacking or other fraudulent activities.
In order to limit the risks and overcome the outstanding problems, Zenchain has come up with several solutions such as focusing on advanced cryptocurrencies and traditional financial products and so on. to attract users from different chains through interoperability between multiple blockchains. Besides, ZenChain allows for complete freedom of decentralization through the auto market maker (AMM) allowing for quick swapping between tokens from different chains. More than that, ZenChain protocol ZenChain processes high number of transactions per second through Tendermint electric technology, increasing the scalability of Blockchain. An important Blockchain solution is the creation of Zen tokens. The Zen token stands for $Zen, it is the native token used as the fuel for all transactions on the Zenchain protocol. It has a maximum supply of up to hundreds of millions.

What are the characteristics of Zenchain and what benefits does it bring to users that make so many people join?

The ZenChain project is in a period of rapid development on the ZenChain platform, it is created on the basis of Defi and NFT applications. Since then, ZenChain has been the project that brings the highest transaction throughput for users ever, reduces the risk of errors, and specially designed intelligent features to perform financial services for zero tokens. replaceable and replaceable on Blockchain.
ZenChain approaches decentralized finance as a specific and important segment of the blockchain community. ZenChan contains all core DeFi applications built into the core of the chain, not written by smart contracts like swaps, loans, and insurance dapps. ZenChain also contains all supported applications for NFT such as minting, auctions and trading. And especially, with ZenChain, your NFT can use it as collateral in Defi to make a loan or bet on a pool to earn more tokens. Starting from the purpose of creating Zenchain, ZenChain was born to fully support NFT and cross-chain Defi. Users can borrow and lend through putting NFT as collateral in the loan and loan application. The next benefit that Zenchain brings is high throughput for all transactions, which is an advantage that you can hardly find in an electronic exchange because this feature is created to solve the problem. Solution for NFT and Cross-chain Defi Cosmos application is also mentioned in this section because zenchain can work quickly like it was made for cosmos. This allows developers to have all the desired features of Ethereum and, at the same time, benefit from Tendermint PoS implementation. Also, because by using the federation curve and dPoS as the system, Zenchain Protocol ensures that security gets a lot of attention.
Diversification is the main focus of Zenchain Protocol by providing risk and return on real-world assets and these assets have real future cash flows and are therefore very valuable. If the user uses or holds these NFTs while using Defi, the user can earn extra LP fees in Dex.
In addition, ZenChain powers the Random Number Generator using the Oracle module. All blockchain platforms that operate and execute code reliably in smart contracts avoid the same centralization problems that arise when external data points need to be used.

Today the DeFi protocol is more and more widely used and popular. This protocol is booming after the birth of Zenchain and it has succeeded in attracting many investors and crypto enthusiasts who can invest and participate in their platform, such as swaps. , borrowing and lending, etc. This is what crypto enthusiasts have been waiting for, an opportunity where they can maximize their profits in the crypto market easily and safely.
Zenchain has just launched, and its natural to run into some lingering issues. Knowing that difficulty, Zenchain is always trying and trying to solve these problems and aims to make the DeFi ecosystem better, faster, cheaper, anywhere and anytime, with help of Binance Smart Chain. Zenchain always welcomes crypto investors and developers who can join Zenchain for a better ecosystem.

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The video is for informational purposes only and is not a call to action.
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