What is CENNZnet (CENNZ)?
CENNZnet is a Layer 1 blockchain that has EVM compatability and sidechain functionality. It is a system that gives entrepreneurs the help they need during every step of the startup process. CENNZnet is focused on the user experience, enabling users to connect with various applications with little difficulty. Furthermore, developers are able to create programs that use the collective power of the ecosystem to surpass the challenges that startups face in the current climate.
Moreover, the CENNZnet blockchain allows for the linking of applications to provide a much better user experience than traditional smart contract networks. The tech is integrated into the network's runtime, giving developers access to deeper APIs. Overall, the blockchain is constructed from various modules that provide various functions to dApp builders. The following are the main modules:
- CENNZnet NFT module. Allows users to mint NFTs using Javascript API or point-and-click function.
- CENNZX spot exchange module. Allows users to make instant token exchanges with very low fees.
- Generic Asset module. Allows users to utilize any asset to pay transaction fees as long as the CENNZX in-chain GAS exchange is liquid.
- Doughnut module. Allows users to demonstrate that one address delegated something to another address and permits the transfer of permissions and rules between several networks.
- Attestations module. Protects user personal data through the use of an on-chain claim registry.
Besides, note that CENNZnet has a dual-token system, where CENNZ is used for staking and governance tasks, while CPAY is used for covering gas fees and issuing block rewards. People who possess CENNZ can stake their tokens in order to gain block rewards. On the CENNZnet price chart above, you can see the live CENNZ price.
Use Cases of CENNZ Tokens
For starters, CENNZ is a staking token. Node operators stake CENNZ tokens as collateral proving that they will complete their tasks. If they are successful, they get rewarded in CPAY tokens.
Also, CENNZ coin holders can become network validators by staking their tokens. Validators are responsible for validating and creating new blocks. They are also compensated for this task.
Besides, by staking CENNZ tokens, users can also join in the process of making decisions and maintaining the network, which makes CENNZ a governance token. Participation in governance is rewarded with CPAY tokens as well.
There are more use cases planned for CENZZnet tokens in the future.
Care to see the current or the previous CENNZ price? Check out the CENNZnet price chart above.
Who Founded CENNZnet?
The network was launched by Centrality Platform Pte. Limited, a private limited company incorporated in Singapore on 4 January 2018. It is a fully owned subsidiary of Centrality Investments Limited.
The CENNZnet was co-founded by Aaron McDonald. He has two decades of experience in the tech industry. Aaron also established Centrality, a $100 million venture studio that utilizes decentralized technology to create new markets, innovations, and customer experiences. He is a board member and advisor to more than a dozen startups worldwide and was named the EY Entrepreneur of the Year in the Technology and Emerging Industries category in 2018. He was also recognized in 2019 as one of the top 50 tech leaders by IDG's CIO50.
Other leading team members are Nicole Upchurch (CEO), Roger Smith (Chairman), Jerry Yuan (CCO), Dan Gillespie (CSO), Jordy Beauchamp (Head of Engineering), and Marco Brondani (CISO).
CENNZ Tokenomics
The initial total supply of CENNZ tokens is 1.2 billion CENNZ tokens. Out of this amount, 20% has been allocated to Centrality, 5% to developers, and another 5% to the Centrality platform. The remaining tokens are kept in a reserve.
The 5% reserved for the Centrality platform will be released gradually to promote the development of the Centrality system in a strategic manner, for the following four main goals:
- Covering operational costs and building infrastructure;
- Procuring and funding innovative start-ups and stakeholders that will improve the Centrality Platform and its ecosystem for all involved (CENNZ token holders will not have any ownership in the businesses acquired);
- Backing and increasing the blockchain and Centrality developer community;
- Promoting and publicizing the Centrality platform.
Don’t forget that you can see the live CENNZ token price on the chart above.
