Introduction to Zano
Zano in their own words is a cryptocurrency and ecosystem focusing on enterprise-grade privacy with focus also on security and scalability.
But what does that actually mean?
Essentially, it comprises various components – it doesn’t focus on achieving a single application but instead provides an ecosystem that enables developers to utilize their infrastructure/technology, traders to utilize their wallet ecosystem, and end-users to utilize their offerings.
Their primary focus appears to be privacy, with the concept being central to all their ideas and features.
Some of the features zano prides itself on are:
- Hybrid PoW/PoS : Uniting the strengths from both the consensus mechanisms in their protocol and blockchain.
- Zarcanum: World’s first hidden ammounts PoS scheme.
- Confidential Assets: The Zano platform enables tokens that carry the weight of complete privacy, lead by their own $zano token.
Through escrow contracts, Zano even provides a framework for a secure and private transaction without the need for a trusted third party and that too all anonymous.
Zano Offerings
The ecosystem comes with a set of tools that promote privacy and anonymity at the core of everything.
Zano Wallets
Zano supports an anonymous wallet app available on all platforms – Windows, MacOS, Linux ,
There is also a browser extension called zano companion in the works but currently it is only available for the testnet.
For more information and a complete guide to using wallets, you can check a dedicated section here.
Aliases
Every Zano user has the option to create a personalized alias, like “@easytouse”, linking a user-friendly name with their payment address and text note. These aliases are securely stored in the blockchain, offering a concise and memorable alternative to lengthy and intricate character strings. With blockchain technology, aliases remain safeguarded against any unauthorized modifications or takeovers.
Escrow Contracts
Zano offers a robust framework for conducting secure and private transactions, eliminating the necessity for reliance on a central authority. The proposed Escrow system necessitates participants to submit supplementary deposits, which they risk forfeiting in case of any malicious or disrespectful behavior towards their counterpart.
Building on Zano
As mentioned before, Zano also allows developers to use their platform to build apps on top of it.
We’ll not get deep into this in our article but we leave a link for you to check out if you’re a dev and are interested – Building with Zano.
Privacy on Zano blockchain
Zano blockchain is amazing for privacy in the sense that confidentiality and anonymity are at the very heart of it.
Untraceable Transactions – Transactions among network members are rendered untraceable through the utilization of ring signatures and stealth addresses. Moreover, the storage mechanism of transaction data on the blockchain ensures that only authorized parties can access it, safeguarding private data from public disclosure at all times.
Hidden Wallet Balances – The confidentiality of every transaction is inherently ingrained within its core. Through the concealment of all sending and receiving addresses, we have maximized the level of privacy for each user.
Confidential Assets – Anyone can easily issue their own currencies and digital tokens on the chain; assets secured by the same mechanisms that make Zano so much more secure than first-generation cryptocurrencies, namely hidden addresses, hidden amounts and IP obfuscation.
Tokenomics
Couldn’t find much on the initial distribution of the $ZANO token but the team has been building for more than 5 years now and the price has seen many fluctuations.
Current MC: $30M
Current Price: $2.13
Total Supply: Not defined
Current Supply: 12M $ZANO
Final Thoughts
The team has been building for many years and we ourselves have seen their progress over the past one year. The persistent and the absolute focus towards privacy makes us very bullish towards ZANO. (NFA, DYOR)
For more information on , you can check out their website and for more project reviews, please check out our blogs page.
