Published: Oct. 14, 2021 at 9:00 AM EDT|Updated: 40 minutes ago
LONDON, Oct. 14, 2021 /PRNewswire/ — Zenon, the layer-1 protocol, announced the launch of Alphanet and pre-Alphanet events, achieving a significant milestone in developing the Network of Momentum Phase 0 (NoM), the first step in Zenon roadmap to a multi-billion userbase decentralized network.
NoM aims to supersede networks such as Ethereum or Solana by solving scalability, usage cost, fairness of the initial distribution, and decentralization.
Technology and Innovation:
With a radically new DLT that combines PoW and PoS, they introduced:
- An unprecedented dual ledger (Meta-DAG + Block-Lattice) architecture
- Three types of nodes (Pillars, Sentinels, Sentries)
- PoW-Links with potential Bitcoin interoperability
- Foundation for mass-scalable zApps controlled by smart contracts
- ZTS allowing anyone to create tokens without a single line of code
- Syrius wallet that redefines user experience with a state-of-the-art design
- Anti-spam mechanism through Plasma which confers feeless transactions
Zenon Network is a community initiative that started in the bear market of 2018.
It’s both rare and impressive that there wasn’t any coin sale or ICO, but an offering of locking BTC to generate ZNN, thus creating value by using BTC as collateral instead of creating a token out of thin air and establish a stable social consensus. Moreover, the locked funds were refunded, which led to tremendous community trust.
Coin Economics and Participation
NoM also introduces a dual-coin approach with ZNN and QSR as primary assets, each with its purpose. ZNN is used as collateral for the network consensus to ensure the validity of transactions and recording of the on-chain data, QSR is used as collateral for nodes (Pillars and Sentinels) and to generate Plasma to achieve higher throughput.
There are three ways to participate in the network as an infrastructure provider:
- By running a Pillar node (15,000 ZNN) – up to 80% APY
- By running a Sentinel node (5,000 ZNN) – up to 60% APY
- By delegating or staking ZNN (1 ZNN or more) – up to 24% APY
Zenon Pre-Alphanet Events
As the Zenon Alphanet Big Bang is only a few weeks away, there are multiple events open to anyone who wants to be an early pioneer of this revolutionary technology that solves the blockchain trilemma.
Public Incentivized Testnet (PIT) – represents a release candidate version of the Alphanet. Users will have the possibility to acquire Plasma Points ($PP), a new and unique ZTS token only available during the Incentivization Period that will be converted into QSR at Alphanet Launch.
wZNN Liquidity Program – Providing liquidity to the wZNN (wrapped ZNN) – wBNB PancakeSwap pair, the LPs (Liquidity Providers) will earn trading fees from the pool and $PP.
WarpDrive – is a 100.000.000 $PP incentivized hackathon that serves as the ignition of the Alphanet Accelerator.
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SOURCE Zenon Network Community
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