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Friday 23 June 2017
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Zennet Decentralized Cloud Network Releases Details of Zencoin Presale

An initiative that aims to create the world’s largest decentralized public “”supercomputer” has just come out of stealth mode. Zennet is a network that allows anyone to sell their idle computation power and anyone to rent it. Using Zennet’s infrastructure and the Blockchain, people that want to monetize their computation power can connect and trade with people who are looking to access vast swaths of power at free-market prices.

The Zennet initiative is the brainchild of renowned developer Ohad Asor. It lives in the world of distributed and decentralized Blockchain applications, and in the fields of Big Data and High Performance Computing. These fields have captured significant 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.

Zennet aims to power this expansion using the huge amounts of computational resources around the globe that are not being adequately utilized. Zennet has the potential to drastically reduce the cost of computational power and bring new magnitudes of speed to HPC consumers. Typical users are mathematicians, machine learning and image processing engineers, scientists, and data analysts.

The Zennet network is 100% distributed and decentralized: there is no central entity of any kind, similar to Bitcoin. All software will be open source. Bidders who wish to access computational power will pay providers directly, there is no middleman.

Users that want to buy computational power will use Zencoins. Zennet has just released details of its presale of Zencoins where 10 percent of all available Zencoins will be released. The price discovery sale, currently planned for mid-November,  focuses on the Bitcoin community. Asor said, “Zennet’s founders are proud members of the Bitcoin community. We believe that this community understands the future of decentralization better than anyone else.”

Indeed, there has been significant enthusiasm about the project from the Bitcoin community on Bitcointalk.com. Prominent Bitcointalk member known as HunterMinerCrafter said that if the infrastructure is secure, “I firmly believe that new adoption of the technology will (briefly) outpace new adoption of bitcoin.  No joke.  If this thing works or even just “works” there will almost certainly be a mad rush of both publishers and providers.”

“This presale will precede other sales that are intended mainly for the global crowd (via cryptocurrencies or fiat money), such as corporations, academia, research centers, etc. Any future selling of Zencoins (by the team) will only occur at a price higher than the price set during this initial pre-sale. This is to ensure that the early adopters are rewarded by having purchased zencoins at the cheapest possible price point” said Asor.

We are certainly staying tuned!

For more information, Zennet’s website is www.zennet.sc.



CBM

  • Matt B Morley

    An open letter to all participants in the altcoin industry, including all forms of media and associated sources of independent commentary.

    In regard to the use of the words “zencoin” and or “zen” plus “coin” or any variant thereof, whether by recombination, synonym or phonetic substitution, in association with the naming or commercial branding of any form of distributed digital or virtual currency regardless of origin, technical production or intended use.

    Please be aware that trademark applications are pending in several jurisdictions worldwide on this brand, with proof of common ownership as well as commercial and transactional use specifically described as a form of cryptographically protected, distributed digital or virtual currency, dating back to at least April 2013, with developmental and anecdotal evidence which predates this publicly available information.

    We, the undersigned partners and representatives of that commons hereby state and forewarn, that our current actions to establish trademark are being carried out as a necessary protective measure, in light of the recent publication of intentions on the part of at least two other parties to attempt use of the above-mentioned names.

    We request your co-operation and diligence, and ask all actors to refrain immediately from continuing to promote, publicize or otherwise advance the establishment of any form of altcoin or distributed digital or virtual currency bearing the aforementioned names or any variants thereof, until such time as any current disputes are satisfactorily resolved.

    Thank you.

    M. B. Morley
    A. Ashard

    Chunky Moon Productions
    http://www.zurkernation.com
    Email: zencoin@zurkernation.com