Through smart contracts on the blockchain, people can now enjoy the benefits of a traditional contract—without the need to involve the courts and the legal system.
Imagine if you could use an app or a website to easily create a legally binding contract between yourself and another person—smart contracts do just that, without requiring you to download an app or go through complicated verification processes.
The smart contract is run across the blockchain network and executes itself based on preset conditions written into it by its creator. Once executed, no party can alter the terms of the smart contract or withdraw any funds from it for their own interests. Zenland is the first decentralized application (dapp) that enables users to create, sign and execute smart contracts on Ethereum.
Once you've connected your wallet with Zenland, all you have to do is choose one of three templates: Simple Contract, Escrow Contract, or Sell & Buy Goods And Services Contract. Each one lets you add as much information as you want to fully describe your contract.
Why Zenland is Web3 Escrow Solution?
The issue with centralized systems is that they are built around the idea of a single point of control and failure. What this means is that if you have a dispute with the escrow service, there’s no way to get your money back if they refuse to give it to you.
In addition, if your escrow service gets hacked or goes bankrupt, all funds stored in their database will be lost forever. This risk is particularly high for startups who rely on third parties for their operations. But, even large corporations like marketplace use escrow services to protect themselves from fraud and chargebacks.
The web3 escrow ecosystem is a set of smart contracts that offer a new way to conduct financial transactions and manage digital assets. By using an escrow contract, two parties can exchange money or digital assets without worrying about fraud or theft. The transaction will be executed only when both parties are satisfied with the outcome.
Zenland is a web3 escrow ecosystem that can be easily integrated into any existing application. It will soon provide an Ethereum mainnet service to match any two parties based on mutually agreed terms and conditions—including the requirement of holding a fund in an escrow—while protecting both parties from fraud and theft due to verifiable trust.
What is Zenland?
Zenland is a decentralized protocol for peer-to-peer transactions of goods, services, and assets based on the principles of verifiable trust. It is a full-scale escrow ecosystem which allows users to sign smart contracts with other peers in their social networks or online communities.
The escrow architecture is the foundation of Zenland and it's at the core of every smart contract. It's a distributed network of computers which, once given authority to execute any action on the blockchain, can modify the state of a contract, i. e. cause some changes to it. This network is called the Zen Network and, once initiated, it runs forever and constantly updates the status of all active contracts built on top of it.
When it comes to escrow, the traditional system of a central server doesn't suffice. To make a smart contract work, you need to have a network of computers to guard the execution and change of the contract state. This is done by having the parties involved in the contract approve or deny the requested actions.
A computer that has access to the blockchain can be called a node, and once the nodes have agreed on the change in status (which party is entitled to what amount) they collectively approve or disapprove it by confirming this change. This change is permanently recorded in a block and becomes part of the blockchain.
How Does Zenland Escrow Works
Zenland escrow smart contracts are executed by software code, not people, so they are always fair. And there's no need to worry about someone changing their mind halfway through the transaction—once a contract has been deployed, it can't be altered or withdrawn from by either party. One example of how you might use smart contracts is for crowdfunded investments.
You could create a smart contract that requires the investor to send money to your wallet and then wait for a certain amount of time, during which time the funds can't be moved away from your address.
Once that period ends, the contract sends money to you and then burns itself and the remaining funds in a "cleanup" process. The result is that if anything happens during that time (say, someone hacks your account and sends the money to themselves), everyone still gets paid out according to the original plan.
You can start using Zenland in official website with follow this step:
- First, go to http://app.zen.land and sign in using Metamask wallet
- Secondly, tag Zenland in the comments and paste your Metamask address
- Third, get a $10 welcome credit to your Zenland account.
Zenland Token Usage
To understand why the Zenland Fee ($ZENF) token is so beneficial, it's important to know how its integration with the escrow platform works. It's also worth knowing that the platform itself has a deflationary model.
The Zenland Fee token, or $ZENF, will be used for two main purposes: as a utility token on the Zenland platform and as a reward to early adopters of the platform's escrow and marketplace contracts. To use the escrow contract, users need to pay a service fee in ENF. They can do this by buying ENF with ETH or by using a 50% bonus if they have ZENF in their own internal wallet. The marketplace contract also requires payment of ENF, which can be done by paying with ZENF or with a 50% bonus if paid with ETH.
Early adopters of both contracts will receive ZENF as a reward, while contributors to the project (bug bounties, hackathons, etc.) will also get paid in ZENF. When the Zenland DAO is formed, all token holders will be able to vote for proposals that benefit the overall community and receive profits from these proposals; however, only those who hold at least 1 million ZENF tokens will be considered members of the DAO.
Buy $ZENF on Pinksale Now
As requested, for more wallet access and $BNB users $ZENF Presale Round 1 will also be available on PinkSale
- 💠From 0.1 BNB - 10 BNB
- 💠Rate: 1 BNB = 15500 ZENF (1 $ZENF = $0.02)
- 💠Allocation 4,650,000
For more information, visit Zenland offical webiste and follow media social account below:
Zenland Website: https://zen.land/
Official Token Presale Round I: https://token.zen.land/
Telegram: https://t.me/zenlandapp
Escrow App: https://app.zen.land/
Twitter : https://twitter.com/zenland_app
This content create by:
Username: Klima Dorres
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