Zenon Network Aims To Be Satoshi's Ethereum: STEX Bullish on Aliens | HackerNoon

Zenon Network Aims To Be Satoshi's Ethereum: STEX Bullish on Aliens | HackerNoon

Spread the love

What is Zenon Network, and why have prominent people taken an interest in a project with a market cap of 10M? My name is VK, and I am the CEO of STEX. In this article, we’re going to cover briefly what Zenon Network is, the synergy between the NoM and STEX as well as how you can help further this mutually beneficial relationship.

Disclaimer: This article is not financial advice and may contain speculation.

Zenon in 1 minute:

  • A new layer-1 crypto with a genuinely decentralized foundation. This is thanks to its egalitarian launch with no VC backing or presale and generally with its strict adherence to the Bitcoin Ethos.

  • Superior technology with a feeless design and a unique approach to the blockchain trilemma that utilizes a novel dual-ledger architecture with unikernals. The two utility tokens that power the Network of Momentum are ZNN (Zenon) and QSR (Quasar)

  • While the possibilities of the NoM are limitless, there are significant efforts towards interoperability with native Bitcoin and later leveraging the taproot upgrade to deliver defi with Bitcoin.

  • While speculative, there are rumors that Zenon would be akin to Satoshi’s Ethereum, if such a thing were to exist (DYOR)

Behold, the mothership has landed.

Any CEX listing is going to bring multiple benefits to Zenon Network. An increase in visibility and accessibility will help grow the number of ZNNAliens, essentially incorporating more people into its decentralized foundation. More investors mean a more valuable DAO treasury, which will attract more devs, who will build more cool stuff, which attracts more investors, and so on in a beautiful positive feedback loop.

Why should ZNNAliens be excited by a STEX listing precisely? Aside from boasting 540 000+ users and 400+ trading pairs, STEX is also an essential part of Zenon’s history. Before the Network of Momentum went live, a placeholder token was sold for years in an effort to distribute it far and wide. STEX was one of the three exchanges which supported this effort before November 2021. I have also been in multiple telegram chats to engage directly with the Zenon community. The efforts of my team have pioneered a world-first incorporation of the NoM’s infrastructure to allow the trading of native ZNN as well as native QSR.

As trading activity hopefully picks up on STEX, a higher trading volume will inevitably attract attention and interest from other CEXs and lead to further listings, amplifying the above-mentioned benefits.

Aliens are all in this together.

To get ZNNAliens started on this journey of visibility and accessibility, we at STEX have decided to lend a helping hand. We have decided to list the utility tokens which power the NoM despite their currently inconsistent trading volume. We see significant potential in the project and would like to help with the process of building momentum. We hope that the Zenon community will, in turn, support us by doing at least some of their trading on STEX.

We are pleased by the support some members of the Zenon community have already shown us. For example, Zyler was very happy to say the following in support of us:

STEX has given us a very welcoming helping hand. We should remember who our friends were when we were still a small project. Be wary of the person who only likes you when you’re rich in the bull market — what of the person who liked the broke you in the bear market?

I, for one, will be following two simple rules:

  1. Whenever I buy some more of this ridiculously cheap ZNN/QSR, I will be making sure that at minimum 1/3 of my buy amount comes from a STEX order book to help support their organization.

  2. After the satisfaction of seeing ‘transaction received’ in my SYRIUS wallet, I will occasionally be posting on telegram: “Not to flex, but I just SLURPED on STEX.”

Why do I feel the need to follow these two simple rules? I think there is a dangerous temptation to fall into the mindset of, oh, don’t worry, daddy Kaine will deliver everything to us on a silver platter. But if you believe in the principles and ethos of the founders, a logical extension of this is that they will be principled to the end … even if that end is the project’s failure. One possible outcome is that this wild experiment doesn’t catch on. That’s not meant to scare anyone, but people need to realize that community engagement and effort are the beating heart of this project.

One easy and simple way you can help is by doing some of your buying and selling on STEX, so the fees collected will support the exchange. From this flows the visibility and accessibility of a CEX listing. The success of a STEX listing will lead to other CEX listings, and so on. The benefits will snowball over time. There is a lot to be gained here, and the beauty of it is that we can all play an active role in this journey, no matter how small.

Not your keys, not your coins

At STEX, my team and I personally make sure that safety and reliability are a top priority for our exchange. Even still, we encourage our users to have good habits that minimize risk and promote caution. Be careful anytime you use a CEX. Use it to buy or sell quickly, then withdraw your funds to your private wallet so that you retain full custody over your tokens. Not your keys, not your coins is an adage that should always be taught to newcomers. Keeping your coins on the exchange is best left to professional traders aware of the risks.

My suggestion for most people is to buy ZNN or QSR from STEX, then immediately withdraw as native ZNN or QSR to their SYRIUS wallet. Don’t withdraw as “wZNN”; withdraw “ZNN.” You can download the SYRIUS wallet from the official website, which I will link below. Be sure to go into settings and select the embedded node.

image

Allow time for the wallet to sync. The orange circle means it is still syncing. You can close the wallet, which will pause the process, and opening it up again later or running it overnight will allow it to keep syncing until the green circle eventually appears. Running your node has multiple benefits, such as privacy, security, and decentralization. Let your wallet fully sync before transactions, so you can see them appear.

Feel free to reach out to the ZNN community on telegram or the forum if you have any questions or need help. They will also be able to point you to resources to learn more about Zenon. But we’ll leave it there for now, folks.

Stay strong during the bear!

-VK


Useful Links

Zenon.Network — Website

STEX — The first CEX for trading native ZNN and QSR.

An Ape’s Guide to the Galaxy — An excellent community-made article ideal for someone looking to do their due diligence on Zenon Network.

How Zenon Mirrors the Bitcoin Ethos — A popular community-made article that studies and compares Zenon and Bitcoin across multiple facets.

L O A D I N G
. . . comments & more!

Tags

Related News

why-can-cosmos-(atom)-not-grow-as-ethereum-killer?
ethereum-scaling-tool-polygon's-matic-token-surges-amid-spike-in-transactions
analyst-benjamin-cowen-warns-of-huge-ethereum-(eth)-crash-incoming-–-here’s-his-price-target