Zencash: Excellent potential?

[yorklab]

There was a question asked on Reddit about Zencash:  https://www.reddit.com/r/ZenSys/comments/6x8qsb/the_present_and_future_of_zencash/

“Why do you think it’s important for it to exist?”

I gave an answer, but didn’t really put that much thought into it until moments later; then it hit me like a ton of bricks!

I said it was important to be able to communicate without someone watching.
 
So think about this: if Zencash becomes the most private, safe and autonomous way to communicate and there’s no way to track or retrieve that information…….can you imagine half the population buying Zen just to use the communication aspect of Zencash!

Most are thinking about the currency aspect of Zen, but the Private Communication could be what really takes hold.

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[dbc23]

There was a question asked on Reddit about Zencash:  https://www.reddit.com/r/ZenSys/comments/6x8qsb/the_present_and_future_of_zencash/

“Why do you think it’s important for it to exist?”

I gave an answer, but didn’t really put that much thought into it until moments later; then it hit me like a ton of bricks!

I said it was important to be able to communicate without someone watching.
 
So think about this: if Zencash becomes the most private, safe and autonomous way to communicate and there’s no way to track or retrieve that information…….can you imagine half the population buying Zen just to use the communication aspect of Zencash!

Most are thinking about the currency aspect of Zen, but the Private Communication could be what really takes hold.

There's already some really good and VERY secure methods of communication (electronic and otherwise).  I see ZEN's encrypted messenging as a nice bonus and adding to it's utility but not it's defining feature by a long shot.

ZEC's success is obvious today and they've carved out a nice chunk of the "privacy" based crypto pie, but ZEC has shortcomings.  Being such a big player they're a less agile project and being able to pivot in today's world is critical for success (unless you hit it out of the park on your first at bat).

ZEN builds on ZEC's success but is bringing new/different/and almost certainly better security and privacy enforcing features to that codebase as well as leaving room for growth and new development as needed.

Thankfully now that the team's early growing pains seem mostly sorted and the recent rack record I could see ZEN come to be toe to toe with ZEC in the not too distant future (certainly technologically, if not value wise as well).

ZEN has some ambitious dev goals that when (if?) they pan out will likely become new best practices in the anonymous crypto world, and the broader crypto sphere too.

[evski]

interesting project, hopefully they can distinguish themselves from other coins, time will tell

[MedaR]

ZEN vs others? My opinion.

* ZEN is focused on user experience and usability, and this is one of differences which we are proud. Accent is thrown on exchanges, wallets - accessibilities.
* Secure nodes which are unlike clasic master nodes, sense for existence of those nodes is additional layer of security, so profit was not main target.
*Community involment is maybe most important diference, ZEN is building system where all involved will have the chance to influence the future of project.
*Transparency of the team is what I like most. Updates are done biweekly and whole team and comunity are involved.
*ZEN has treasury and doesn't depend on donations. We can say ZEN is self sustainable.

I think those differences are crucial and they are welcomed by community and investors.

[crockus22]

that does not look like a value proposition to me...

[konco_kenthel]

the performance of this project is very good even just take a short time already on can feel the results of all that in connection with the founders who are very disciplined in managing a project and not just a promise but there is proof of fact. hopefully from here emerge many ico similar to this.

[scottyb309]

I believe that ZenCash has a lot of potential as a privacy coin.
It offers improvements over zcash with its upcoming secure nodes
Also, the logo looks much better!!

[MedaR]

that does not look like a value proposition to me...

https://blog.zensystem.io/wp-content/uploads/2017/08/ZenCash-Overview-for-Investment-Professionals-v2.pdf
This is a very good official document for all beginners, who are investigating about this project.
(Overview and highlights for investors. Value proposition, team, goals..)

[yorklab]

Zencash gets mentioned in "TheSreet.com": 

https://www.thestreet.com/story/14297576/1/venezuelans-flock-to-bitcoin-as-source-of-income.html

BTW, looking at the website, the team is growing. New operations popping in various parts of the world.

https://zensystem.io/team/

[e11io]

BTW, looking at the website, the team is growing. New operations popping in various parts of the world.

https://zensystem.io/team/

It's good to see that they're forming a better team, but when is it too big?

[yorklab]

There are many aspects to Zencash that need the expertise of various people. Secure nodes, Wallets, Website design, Marketing, etc. You also need all of this done in many different languages, which is why Zencash already has their website written in several languages, with more to come.

All of the operations (which include marketing and developing) that are about to begin in various countries will cater to those people in their native language. This is only a start, I think we’ll see more as time goes on.

I don’t think most of these operations have really started yet, but with Secure Nodes going live in about a month that’s when these current operations, and any new ones they add, may start to put the pedal to the metal. Things could get pretty exciting for Zencash by then. I guess we'll see.

[Moana]

I agree that Zencash has a huge potential. But potential is not everything...

[playingpoodles]

Zen's low marketcap is an enormous strength, to my mind. Of course something valuable can get even more valuable. But from what I see in the crypto space the really exponential increases in short periods of time tend to happen less once market cap increases. Just on the speculative side, I like the look of Zen.

As for what Zen's position in the privacy coin space, at this point I see only one main competitor, and that is ZEC, which has a much higher market cap. There are other competitors but I see them as either too small/immature/not seriously developed or have governance and development based entirely on volunteerism. I cannot see a project really working purely on volunteerism - Bitcoin is a sort-of example of this, the insane delay in scaling because competing vested private interests stopped development, and of course now most development is done not by volunteers but by coders paid by whatever faction they give their fealty to (eg Bitcoin Core/Blockstream). I don't like that route. I much prefer a scheme where some of the mining reward funds development.

That's what Zen has.

As far as future potential, I personally believe getting Zen included in a multi-currency mobile wallet will be important to fund adoption.

[syarifudin]

The development of zen has increased significantly this time and it seems that before the beginning of 2018 Zen prices will be 2 times higher than before, and Zen has the potential to continue to grow and compete with some other coins in the crypto market.

[BogdanGFTP]

It will growth few month later I think. Today better to invest in top 5 coins.

[carlisle1]

I agree that Zencash has a huge potential. But potential is not everything...

its depend ifhow the development will be supported I agree that potentials are already there it will be now for the traders and investors on how
they will use it and how this project will gain good support from trading industry.

[yorklab]

Zen's low marketcap is an enormous strength, to my mind. Of course something valuable can get even more valuable. But from what I see in the crypto space the really exponential increases in short periods of time tend to happen less once market cap increases. Just on the speculative side, I like the look of Zen.

As for what Zen's position in the privacy coin space, at this point I see only one main competitor, and that is ZEC, which has a much higher market cap. There are other competitors but I see them as either too small/immature/not seriously developed or have governance and development based entirely on volunteerism. I cannot see a project really working purely on volunteerism - Bitcoin is a sort-of example of this, the insane delay in scaling because competing vested private interests stopped development, and of course now most development is done not by volunteers but by coders paid by whatever faction they give their fealty to (eg Bitcoin Core/Blockstream). I don't like that route. I much prefer a scheme where some of the mining reward funds development.

That's what Zen has.

As far as future potential, I personally believe getting Zen included in a multi-currency mobile wallet will be important to fund adoption.

Zencash is gettiing added to coinomi, which is a mult-currency wallet.

[yorklab]

Zencash is now lised on Cryptopia:

https://www.cryptopia.co.nz/Exchange/?market=ZEN_BTC

[sexycoin69]

what do you guys think about the secure nodes?

42 ZEN required, not that big of an investment. Estimated 7.56 ZEN per month reward with the existance of 1000 nodes......

Number of ZEN per month (first 4 years)
216000

3.5% for Secure Nodes
7560


Let's say 10,000 nodes go up since the barrier to entry is so low, that's 0.756 zen per month? =/

[yorklab]

what do you guys think about the secure nodes?

42 ZEN required, not that big of an investment. Estimated 7.56 ZEN per month reward with the existance of 1000 nodes......

Number of ZEN per month (first 4 years)
216000

3.5% for Secure Nodes
7560


Let's say 10,000 nodes go up since the barrier to entry is so low, that's 0.756 zen per month? =/

You could ask here: https://bitcointalk.org/index.php?topic=2047435.420

or go to Slack where there are plenty of people there to answer your question.

Also: the percentages are subject to change if enough people and the founders agree they are needed.