So I’ve been looking at Zen for the past few months. From a tech perspective (which I have little) I thought it was pretty cool. However, what I’m not actually able to do or figure out is how it fits in to the current landscape and who to compare them with. I read somewhere the Bancor is one of the platforms close to them, but it’s hard to tell. I’m probably just too dumb to understand this one.
Zen is trying to create a decentralized financial platform for creating digital assets. This would allow anyone to create a digital asset for trade as long as they had access to an oracle and the underlying. The user could create the contract and then other people could come and put their assets up for trade and use the contract themselves. The platform is going to have smart contracts, is written in F* and also can do a ton of things similar to what Ethereum does. It’s connected to Bitcoin, which acts as the settlement layer.
All of this is pretty cool. Maybe it’s going to be big. I can’t just can’t wrap my head around it. Most of the other review sites have just copy pasted rewritten a lot of what’s in the WP, so they are not very helpful. I try to keep things simple here, but I failed when it came to this one.
They are raising a huge amount of funds, something like 10,000 BTC. We will see if they get close to that, especially when BTC is at 11k today.
I’ll come back tomorrow and add another entry to follow up to this, but if someone wants to take a crack at explaining it better to me, please do.