Note that we published a detailed software design document which explains how to implement the product. We haven't published the current code yet.
We also have the right personnel.
Using the funds from the crowdsale we will be able to finish the development and deliver the product.

an article about Xennet Supercomputer that was publish in the insideHPC:
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws
"Today we caught wind of something coming out of stealth mode called the Xennet initiative, a “public, distributed, and decentralized Supercomputer.” As the brainchild of Israeli computer scientist Ohad Asor, Xennet is essentially a free-market alternative to AWS that sounds a lot like the marriage of BitCoin and SETI@Home."

That's so much more than just a coin. It's not even meant to be a coin. Please read some more here and on the links. The devs are from the top industry of software, as can be seen in our documents.

Note that the mining, or transaction approvals etc., is *not* done by the computational work. This work is unable to be proven. What goes between the publisher and the provider, cannot be proved to a third party to be true. Trustless network is implemented by other means. Xennet is a layer on top of the coin layer, which will use a common algorithm such as POW, or maybe Delegated Proof of Stake.

So as for the coin safety, you can feel safe.

We still didn't decide whether there will or will not be a test client, this is a possibility that depends on several considerations.

We're in contact with companies having very massive computing resources so we can test it all well. We also hired a qualified QA manager. Intensive tests will be done and nothing premature will be released. Our developers are from the top of the industry with very large expertise in bringing high quality products to the market, for example, life critical products for the medical market, software for banks, and many more.

Quality is definitely one of our main guidelines, and we shall invest as much resources as needed (yet available) to deliver a top quality product.

Well the market will tell.
The market size of Xennet (HPC, Big Data, Worldwide computing resources) is so much bigger than the market of cryptocoins (in which we're huge fans of), especially in terms of demand and being a bottleneck for so many (good and wealthy) organizations. Moreover, XenCoin is by no means a coin that is designed to be useful for generic value transfer. It is optimized for use over Xennet and to rent computational resources.
So we have many people that need XenCoin (HPC consumers), and on the other hand, we do need to invest a lot on the product itself, it's audience, and build more applications on top of Xennet, like XenFS and XenTube as in the RFC (https://github.com/Xennet/xennetdocs), or a distributed and decentralized search engine.. God knows. Endless work towards us.
Anyway it's going to be a very fair sale. Details aren't closed yet, but will of course be announced here.

Note that the RFC is a bit outdated, and http://xennet.io contains a newer design of Xennet implementation.

Have a look on two organic press releases:
http://www.hpcwire.com/2014/08/18/free-market-hpc-cloud-development/
http://insidehpc.com/2014/08/new-xennet-hpc-cloud-free-market-alternative-aws/
We will also mention that some worried supercomputing companies have contacted us.

Sure,

On Xennet, people will trade computational resources for XenCoins.

Its purpose and design goal are to be a token for activating computational machines. It's interesting to note that XenCoin has a real intrinsic value, as it is fully backed by the right to use a certain amount of computation power.
The best candidate for now for the coin technology is Delegated Proof of Stake (http://bitshares.org/delegated-proof-of-stake/) by Dan Larimer.
On the pre-sale XenCoins will be sold, and delivered after the product is ready.
People naturally ask why we don't make it over Bitcoin. The reason is that for the Micropayment process to initiate, provider has to wait for confirmations for the multisig deposit by the publisher. Hence, publishers might have to wait 45mins until the work begins, which is unacceptalble.

Videos
Short introductory video, and another one
10 Minutes Presentation from InsideBTC conference
Detailed introduction to Zennet
Presentation Video on Crowd Computing conference at Almere

Papers
About Zennet article (newer)
RFC (old)
Software Detailed Design
Pricing algo
Auctions draft
Tau-Chain Paper

Presentations
Almere Conference
Inside Bitcoin Conference

UI Mockup can be found at http://www.zennet.sc/xennet-ui/#/

Updates and important information posted here
Economical Aspects
Number of coins
Main design assumption and generation of coins
Draft of pre-sale terms
First pre-sale terms
Moving to a generalized Blockchain

Join our IRC channel #zennet @freenode

Pre-buying coins (currently only privately) by emailing Ohad at ohadasor@gmail.com




Zennet initiative is a public, distributed, and decentralized Supercomputer. It lives in the world of distributed and decentralized Blockchain applications, and in the huge field of Big Data and High Performance Computing. The latter has captured the most attention and investments in the software market over the last few years, experiencing huge growth. HPC and Big Data are used in countless industries, including medicine, government, and marketing. Big Data alone is at least a $30 billion industry this year.




Zennet is here to power this expansion with everyone's computational resources around the globe. Its most significant impacts on this market are drastically reducing costs and bringing new magnitudes of speed to HPC consumers.



Computation power is traded on Zennet's open market platform. Anyone can rent computation power and use it to run arbitrary tasks. Anyone can monetize their hardware by offering unused computation power for sale.    
Zennet allows Publishers who need computation power to run arbitrary computational tasks. Computation power is supplied by Providers for a negotiated fee. A free-market infrastructure brings Publishers and Providers together. Publishers can hire many computers and run whatever they want on them safely, thanks to cutting-edge virtualization technology. Payment is continuous and frictionless, thanks to Blockchain technology, among other technologies that shall be discussed later on.    



The network is 100% distributed and decentralized: there is no central entity of any kind, just like Bitcoin. All software will be open source. Publishers pay Providers directly, there is no middleman. Accordingly, there are no payable commissions, except for regular transaction fees which are paid to ZenCoin miners.       
It is a totally free market: all participants are free to pay or charge any rate they want. There are no restrictions. Hence, we put additional focus on customizability. We allow advanced participants to control all parameters and conditions of their nodes in a versatile way. On the other hand, simplicity and automation are made possible by making the client software implement automatic risk-reward considerations by default. In addition, we present a novel pricing model.       
Following is a sketch summarizing the general idea of the communication protocol between publisher A and provider B:        

Zennet presents new economic aspects, both to the traditional economy and to the world of cryptocurrencies. ZenCoin has a real intrinsic value, as it is fully backed by the right to use a certain amount of computation power. Most of the power-calculating resources are in the hands of the common people, and most of the time they are free.

Many questions may naturally arise. The above description is extremely summarized. Please take some time to read the About Xennet article at http://zennet.sc/ It contains an interesting table presenting Xennet's benefits over Amazon Web Services, the largest computational resources rental firm.

Please stay tuned, share your thoughts and check Xennet Bug Bounty Announcement.

In the press (note that we renamed from Xennet due to this):







Please note that above releases were organic, and did not co-ordinate with us, hence contain some inaccuracies. This thread clarifies most of them.

Partial list of team's LinkedIn profiles (in lexicographic order):
Ohad Asor (CEO/CTO)
Gil Bahr (Creative)
Gil Erlich (R&D)
Ariel Formanovski (R&D)
Ravit Halmut (R&D)
Assaf Kerstin (CFO)
Alon Muroch (R&D)
Lukáš Nový (R&D)
Daniel Peled (Legal)
Yonatan Omer (R&D)
Felicity Perry (Marketing)
Ofer Rotem (Capital)

Special credit to HunterMinerCrafter for advising widely to the project and for showing us new paths toward verifiable computing. His contribution is very appreciated.

Sincerely,
The Zennet Team.