New technology makes ZenCash the first end-to-end encrypted cryptocurrency network
New York, New York — December 15, 2017 — ZenCash, the cryptocurrency for private and borderless transactions, has today announced the beta release of secure nodes payments, which make node communication appear like any other encrypted Internet traffic. This represents a significant milestone for users who reside in countries with restrictions surrounding cryptocurrency use. The release of secure nodes makes ZenCash the world’s first end-to-end encrypted cryptocurrency network.
Rob Viglione, Co-Founder of ZenCash, said: “The launch of secure nodes will prove to be an invaluable asset in ZenCash’s mission to become the most useful and reliable cryptocurrency available for private and anonymous transactions, messaging, and publishing. Much of the active use of cryptocurrencies appears to stem from people who live in oppressive states where fiat currency has failed or does not exist. Through the release of secure nodes, ZenCash provides an alternative cryptocurrency with the critical benefits of user privacy and the ability to remain operational even if under attack from third parties.”
Secure nodes represent an important benchmark in ZenCash’s goal to build the world’s most decentralized and resilient cryptocurrency architecture and censorship-resistant platform. The nodes run a full copy of the ZenCash blockchain, process transactions, and contain a valid SSL/TLS certificate, which authenticates the identity of users and grants permission to use encrypted communication. The secure nodes have undergone stress testing in the mainnet for two weeks to ensure the system can handle the operational load.
Node operators, who will run secure nodes on Zen’s network, will receive 3.5% of mining rewards. Operators must maintain a minimum of 42 ZEN, create and maintain a valid TLS certificate, have a server with sufficient processing capacity and memory to protect against DDoS attacks, maintain a full copy of the ZenCash blockchain, and operate the node at least 92% of the time. These standards will ensure the reliability and long-term sustainability of the network as secure nodes are integrated.
Forgoing a pre-mine or a token crowdsale, ZenCash has set a cap of 21 million total tokens that can be created in the system. In addition, ZenCash is treasury-funded, with 8.5% of mining rewards allocated to support project development and marketing. ZenCash is currently trading on the Bittrex, Cryptopia, and Coss.io exchanges, and also has wallets available that implement its advanced private transaction and messaging capabilities.
ZenCash is the first and most important initial product in the Zen portfolio. Zen, an evolution of the Zclassic codebase, launched its blockchain on May 30, 2017. Zen provides privacy and networking infrastructure for secure and anonymous collaboration.