Zano

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Discover Zano's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Zano?

Zano (ZANO) is a privacy-centric cryptocurrency and ecosystem launched in 2019. It offers enterprise-grade privacy, top-tier security, and scalability, blending the strengths of Proof of Work and Proof of Stake consensus algorithms. Zano's features include untraceable transactions, hidden amounts, and stealth addresses, making it a robust platform for confidential assets and decentralized applications.

How is Zano used?

Zano (ZANO) is a privacy-centric cryptocurrency that offers a range of features to ensure confidentiality and security in transactions. Here are some key ways Zano is used:

  1. Private Transactions: Zano transactions are untraceable, leveraging ring signatures and stealth addresses to maintain user privacy.

  2. Multi-Signature Wallets: Zano's multi-signature functionality allows multiple users to control a single wallet, which can be used for escrow services or two-factor authentication.

  3. Customizable Escrow Contracts: Users can create escrow contracts with required deposits for trustless agreements, ensuring secure and identified payments between counterparties.

  1. On-Chain Aliases: Zano network members can have aliases (e.g., @username) linked to a payment address, making the network more user-friendly.

  2. Staking: Zano has a built-in staking system with no minimum requirements or time locks, allowing users to earn rewards while supporting the network.

  3. Confidential Assets: Zano's platform enables tokens that carry the weight of complete privacy, mirroring all the functionalities of the Zano coin itself. These assets share the same privacy features as native Zano coins, allowing other developers to run their privacy-oriented projects without the overhead of maintaining their own blockchains.

  1. Ionic Swaps: Users can smoothly switch between different crypto assets within the Zano ecosystem while maintaining the essence of privacy.

These features make Zano a robust foundation for the next generation of confidential assets and decentralized applications, providing a secure and private transaction framework without requiring a delegated third party.

How do I store Zano?

To store Zano (ZANO) tokens, you will need a digital wallet that supports the Zano blockchain. This wallet should be able to handle the secure, anonymous, and discreet transactions that Zano's privacy features provide. You can create your own digital tokens on the Zano chain, which are secured by the same mechanisms that ensure the security of Zano itself.

How to buy Zano?

To buy Zano (ZANO) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that supports ZANO trading, such as CoinEx, MEXC, NonKyc.io, Tradeogre, or Xeggex.

  2. Create an Account: Register on the chosen exchange's official website or app. Verify your identity and secure your account with two-step verification.

  3. Buy a Base Cryptocurrency: Use fiat currency to purchase a base cryptocurrency like USDT, ETH, or BNB, which can be easily traded for ZANO. This can be done through the exchange's OTC trading service or a financial service platform like PayPal or Robinhood.

  1. Transfer Base Cryptocurrency: If necessary, transfer the purchased base cryptocurrency to the exchange that supports ZANO trading.

  2. Navigate to ZANO Trading Page: Go to the dedicated ZANO trading page on the exchange. Select the desired trading pair, such as ZANO/USDT.

  3. Specify Purchase Amount: Determine the quantity of ZANO tokens you want to buy and input the amount in the trading interface.

  1. Execute the Trade: Confirm the details and submit the order to complete the purchase.

  2. Store ZANO: Once purchased, store your ZANO tokens securely in a wallet that supports ZANO.

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History of Zano

Zano (ZANO) is a privacy-oriented cryptocurrency that was launched on December 7, 2018. It was founded by Andrey Sabelnikov and Pavel Nikienkov, who aimed to create a scalable and secure coin designed for use in e-commerce. The technology behind its blockchain has been optimized for peer-to-peer (P2P) transactions, focusing on reliability, flexibility, and security.

Zano uses a hybrid consensus mechanism, combining both Proof-of-Work (PoW) and Proof-of-Stake (PoS) to ensure the security and integrity of its network. This structure is designed to safeguard the platform from double-spend attacks and enhance the overall security offered by standard PoW blockchains.

The project also employs advanced cryptographic primitives, initially presented with CryptoNote, to ensure the privacy and anonymity of transactions. Features like ring signatures and stealth addresses make transactions untraceable, providing an additional layer of security for users.

Zano has a total supply of 13,105,947 tokens, which are used to make payments and support all operations within the network. The project's escrow service allows for customizable contracts, enabling trustless agreements between parties. Additionally, Zano's multi-signature wallet provides further utility and security for users.

Overall, Zano's history reflects its commitment to providing a stable, secure, and private transaction framework for the e-commerce industry.

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How Zano works

Zano is an open-source cryptocurrency and ecosystem that prioritizes enterprise-grade privacy, security, and scalability. It is designed for mass adoption and aims to provide a robust foundation for confidential assets and decentralized applications. Here's an overview of how Zano works:

Hybrid Consensus Mechanism

Zano uses a hybrid consensus mechanism that combines the strengths of both Proof of Work (PoW) and Proof of Stake (PoS). This approach enhances security by reducing the risk of double-spend vulnerabilities. The PoS mechanism, known as Zarcanum, is particularly notable for its hidden amounts feature, which ensures that transaction amounts remain private.

Asynchronous Core

Zano's asynchronous core is designed for computational efficiency, ensuring forward and backward compatibility. This modular approach allows the platform to adapt to the evolving challenges in the crypto realm.

Confidential Assets

Zano's platform enables the creation of tokens that maintain complete privacy, mirroring the functionalities of the Zano coin itself. These confidential assets can be used for various purposes, including decentralized applications and secure transactions.

Ionic Swaps

Ionic Swaps is a feature within the Zano ecosystem that allows users to seamlessly switch between different crypto assets while maintaining privacy. This feature is particularly useful for users who need to manage multiple assets without compromising their privacy.

Marketplace API and Escrow Contracts

Zano offers a dynamic Marketplace API and adaptable Escrow/P2P Contracts, which provide diverse opportunities for developers, traders, and users who value privacy in the digital age.

Zero-Fee Transactions

Zano is exploring the possibility of zero-fee transactions, which would significantly improve the user experience. This would be achieved by allowing users to hold two assets: the token they want to transact with and the base-layer token (Zano) used for fees. If implemented, this feature would make onboarding and transactions much smoother and more efficient.

Staking and Network Security

Even with zero fees, Zano would still be necessary for staking and submitting blocks to secure the network. Users would have an incentive to invest in and protect the network by holding Zano, which would give them influence over the ecosystem.

Development and Community

Zano has a strong focus on community development, with initiatives like the Zano Grants Program to support developers in building the ecosystem. The platform is constantly evolving, with significant updates like the Zarcanum hardfork, which transformed the blockchain into a multi-asset, decentralized financial universe.

Overall, Zano is designed to provide a robust, private, and secure platform for users, developers, and traders, with a strong emphasis on scalability and adaptability.

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Zano's strengths

The token Zano (ZANO) has several strengths that set it apart from other cryptocurrencies. One of its key strengths is its hybrid PoW/PoS consensus algorithm, which combines the benefits of both processes to enhance security and minimize double-spend vulnerabilities. This hybrid approach ensures a robust foundation for the blockchain, making it more secure and reliable.

Another significant strength of Zano is its focus on confidentiality and security. It uses ring signatures and stealth addresses to make transactions untraceable, and all sending and receiving addresses are concealed to maximize privacy for users. This emphasis on privacy is a key differentiator for Zano, making it an attractive option for those who value confidentiality in their digital transactions.

Additionally, Zano's ecosystem is designed to support the creation of confidential assets and decentralized applications (dApps), providing a robust foundation for the next generation of digital assets. This flexibility and adaptability make Zano a versatile platform for developers and users alike.

Zano's asynchronous core is also noteworthy, as it ensures computational efficiency and forward/backward compatibility, making it well-suited to handle the challenges of the crypto realm. The platform's dynamic Marketplace API and adaptable Escrow/P2P Contracts further enhance its capabilities, offering diverse opportunities for developers, traders, and users who value privacy.

Overall, Zano's strengths lie in its unique blend of security, privacy, and scalability, making it a robust and versatile cryptocurrency ecosystem.

Zano's risks

Zano (ZANO), an open-source cryptocurrency and ecosystem, is designed with enterprise-grade privacy, security, and scalability. However, like any financial asset, it is not immune to various financial risks. Here are some of the key financial risks associated with Zano:

Credit Risk

Credit risk, also known as default risk, is the danger associated with borrowing money. For Zano, this risk is particularly relevant as it is designed to facilitate confidential transactions and asset issuance. If users or institutions default on their debt obligations, it could lead to financial instability and negatively impact the value of Zano tokens.

Liquidity Risk

Liquidity risk arises when an asset cannot be easily converted into cash without significantly affecting its market price. Zano, as a relatively new cryptocurrency, may face liquidity issues, making it difficult for investors to quickly sell their tokens without incurring significant losses.

Operational Risk

Operational risk stems from poor management or flawed financial reasoning within a business. For Zano, this risk is heightened due to its complex hybrid PoW/PoS consensus algorithm and the need for robust security measures to protect user privacy. Any operational failures or security breaches could compromise the integrity of the platform and negatively impact the value of Zano tokens.

Market Risk

Market risk is the possibility of losses due to changes in market conditions. Zano, as a cryptocurrency, is susceptible to market volatility, which can lead to significant price fluctuations. This volatility can be exacerbated by factors such as changes in global economic conditions, regulatory changes, or shifts in investor sentiment.

Regulatory Risk

Regulatory risk arises from changes in laws or regulations that can negatively impact the value of an asset. As Zano operates in the cryptocurrency space, it is subject to evolving regulatory frameworks globally. Any adverse regulatory changes could restrict the use of Zano or increase the costs of compliance, negatively impacting its value.

Systematic Risk

Systematic risk, also known as market risk, affects the entire market or a particular sector. Zano, as a cryptocurrency, is part of the broader cryptocurrency market and is therefore exposed to systematic risks such as global economic downturns, changes in investor sentiment, or significant security breaches in other cryptocurrencies.

Unsystematic Risk

Unsystematic risk, on the other hand, is specific to a particular company or asset. For Zano, unsystematic risks include issues with its consensus algorithm, security breaches, or operational failures that are unique to the platform.

Risk Analysis

InvestorsObserver analysis has given Zano a high risk rating, indicating that the token is highly susceptible to price manipulation due to limited trading and market capitalization.

Mitigating Risks

To manage these financial risks, investors and users of Zano can employ various strategies such as diversification, holding insurance, maintaining emergency funds, and generating multiple income streams. Effective risk management is crucial for the long-term success of any investment, including Zano.

In summary, Zano, like any financial asset, is exposed to a range of financial risks. Understanding these risks and employing appropriate risk management strategies is essential for investors and users to mitigate potential losses and capitalize on opportunities for growth.

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Zano’s team

  • Andrey Sabelnikov: Co-Founder and Core Developer, responsible for the development of the CryptoNote protocol and the Zano blockchain, with extensive experience in building blockchain projects and cryptocurrencies.
  • Pavel Nikienkov: Co-Founder and Project Manager, overseeing the project's direction and implementation, including the recent hard fork that introduced confidential assets.

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