How Zenon Mirrors The Bitcoin Ethos

Inception

Bitcoin’s origins are steeped in mystery. In 2008, a person or persons of unknown identity, going by the pseudonym Satoshi Nakamoto, leveraged existing ideas within the cryptography space to create something entirely new. A digital currency which allowed for peer to peer transactions without the need to go through a third-party financial institution. It had no VC backing and no paid marketing. On its merits alone, it garnered a small and passionate following. Over time its use, awareness and adoption grew despite encountering strong opposition. FUD which should have killed it, only made it stronger. “They” have called BTC a joke, ponzi, for criminals, banned it … and where are we now? In 2022 those same people/VCs/banks are taking Bitcoin seriously and extolling its virtues. But despite their sudden interest, Bitcoin is still owned by the people. The societal implications are being discussed. When it’s all said and done, the journey from magical internet beans to the reserve currency of the world is gonna be quite a story.

Trustless Nature

The code for Bitcoin is fully open-source — anyone can view and contribute. There is also no need to trust anyone, as the transactions in the network are fully verifiable for anyone running their own node.

Culture

Bitcoin culture has its light-hearted side. In May 22nd 2010, someone exchanged 10 000 bitcoins to pay for a pizza. At today’s prices, that’s about 400 million dollars for a late late-night snack. #BitcoinPizzaDay was born.

Governance

Bitcoin is governed by proof of work, so your stake is scaled by your computing power. The sh*tcoins/VC scamcoins are all proof of stake (pos = proof of sh*tcoin). And if the large centralised entity just sits on a majority of the coins, you can see how it’s a de facto corrupt, brittle dictatorship. Like Bitcoin, Zenon aims for a fair voting system — utilising both PoW and PoS. Let me explain.

Innovation

Bitcoin revolutionised … hmm, that’s actually a tough thing to explain in one paragraph, given the far-reaching consequences that will one day be studied and marvelled over in the next century. Consider that beyond the scope of this article. We can all agree though, that Bitcoin was revolutionary. Zenon aims to solve the blockchain trilemma, introduce a fee-less paradigm and become the global standard for Apps, NFTs and especially defi with BTC. In the same way, Zenon aims to be revolutionary.

  • cross-chain bridges (with other layer-1 or layer-2 networks)
  • atomic swaps and related technologies (HTLCs)**
  • other interoperability solutions
  • SDK ports for multiple programming languages (Javascript/Typescript, Rust, Go, Java/Kotlin, C/C++, Python, Swift, C#)
  • Zenon could make these transactions free (with its own anti-spam solution). According to team member “Mr Kaine” who communicates with the community mostly via the official Zenon telegram chat: “You need to compute a proof of work link in order to generate Plasma required by transactions on the NoM (Network of Momentum). It may be possible to use PoW links to merge mine Bitcoin; the other way around is to merge-mine ZNN and create plasma for fee-less Bitcoin transactions.”
  • Trusting the watchtowers in the LN seems a centralised solution. Antithetical to BTC ethos. Perhaps a decentralised network could help with this problem, to provide 24/7 trust-less supervision? Perhaps that solution is Zenon. Below is an article exploring this shortcoming of the LN

Final Thoughts

You want to hear something ironic? Most ZNNAliens were initially unaware of their heritage. As the legend goes, one particular ZNNAlien was traipsing along. Not a care in the world, just ape-ing into dog coins, flipping overpriced jpegs and slapping people in the crude, early metaverse. It wasn’t until one day, they heard the sound of running water. Coming closer to it, they found a grand fountain spouting from two sources. Peering over the edge, it was hard to see their reflection, distorted from all the ripples … this was phase 0 of their adventure after all. But then the water flow stopped — phase 1 had arrived. Looking again, in the perfect stillness they saw themselves more clearly than ever before …

Further Reading

  • A concise overview of Zenon (for a brief summary of Zenon that also includes helpful links to learn more and get involved in the ecosystem)
  • An ape’s guide to the galaxy redux (the mother of all articles; this is perfect reading for those wishing to do a deeper dive on the project)
  • Zenon.Network, their official website (definitely check out the links to their official twitter, discord and telegram as well)

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