Zenith Chain Launches Centralized Exchange to Create Many Usability Options | The Guardian Nigeria News
Main image from the press release
As part of the vision of Zenith chain Ecosystem, Zenith Chain is proud to announce the launch of the commercial edition of its Centralized Exchange (Zenith CEX) on March 10, 2022.
This is to create extended usage options for our ever-expanding market. The Zenith centralized exchange will be the first in a series of products. The exchange will serve as a medium where cryptocurrency users can buy, sell and trade on approximately 200 cryptocurrencies and other digital assets in over 175 countries.
The centralized exchange will have the following functionality:
- KYC Verification: Users will be able to complete the identity verification process in 2 minutes. There is also an automation system in place to ensure they get their results in less than 6 minutes.
- Global reach: Trade from over 175 countries worldwide
- Fast transactions: Trade and exchange assets at super-fast speed as the Zenith Smart Chain ecosystem can host over 300,000 TPS
- P2P Trading: Users will also be able to trade certain digital currencies with each other securely. Zenith CEX will provide them with a platform to do so.
- Spot Trading: In addition to trading tokens or coins with each other, users will be able to buy and sell cryptocurrencies on the platform. There are a significant number of tokens and trading pairs.
- Users can store over 200 crypto assets securely.
- Margin trading: The Zenith CEX also offers a margin trading option. Users experienced in crypto trading can also engage in margin trading to earn more profits on the Zenith CEX.
- Launchpad: There is also a launchpad on the CEX, users will be able to access IEOs, IDOs, IGOs, INOs, etc. This launchpad will serve as a major platform where other blockchain, crypto or NFT projects can offer their cryptocurrencies or NFTs for sale.
- Staking: Users will be able to lock in their favorite tokens and earn interest over a period of time.
Zenith Chain is an innovative solution to bring programmability and interoperability. Using Proof of Authority (POA) consensus which can support short blocking time and low fees. The most related validator candidates in staking will become validators and produce blocks. Double-sign detection and other slashing logic ensure string security, stability, and finality.
Features of the Zenith chain
Compatible with the Ethereum network and smart contracts
Scalable consensus algorithms and custom Wasm runtimes, ensuring enterprise-level adoption.
24 independent nodes operating on 51% consensus and providing security at the fox node level.
Dedicated throughput/resources, fully customizable technology stack, sovereign governance.
Low mining fees, making mining and on-chain transactions more efficient. Comparable to Web2, “zero gas” transactions, instant finality (deterministic) of transactions
No developer experience
Equivalent to Ethereum, no protocol-level knowledge is required to rely on the Zenith Chain network.
High customization, extensibility and scalability, short time to market, community collaboration
Zenith channel projects
There are a number of other present and future projects on the Zenith channel. Below is a summary
Zenith Coin is the first product developed on the Zenith chain. It is currently compatible with Ethereum (ERC-20), BNB Smart Chain (BEP-20) and Zenith Mainnet networks. It is currently available on crypto exchanges MEXC Global, Probit, Lbank, Azbit, Coinsbit, Bitmart, LAToken, and PancakeSwap.
Zenith Scan is a blockchain explorer where users can check all transactions that have taken place on the Zenith chain. With any transaction detail like transaction hash or wallet address, users can find results in seconds. After revamped version and migration to bigger server, users will enjoy premium UX.
Zenith Centralized Exchange (CEX)
The Zenith Centralized Exchange is a product that is almost ready to release. It offers spot trading, margin trading, futures trading, peer-to-peer trading, and direct deposit. It also features a launchpad for listing new products, staking, and initial exchange offerings (IEOs). To ensure the safety of digital assets on the exchange, they will be stored externally on a cold wallet. The confirmed release date of the Zenith CEX is March 10, 2022.
Zenith Multi-Chain Wallet
As its name suggests, the Zenith Multi-Chain Wallet is a crypto wallet that provides maximum security. To further ensure scalability, this digital wallet will be compatible with most blockchains and their respective networks. This includes BTC, ERC-20, BSC 20, TRC-20, ZRC-20 and many more. This digital wallet is expected to go live after the launch of the Zenith CEX.
Zenith Decentralized Exchange (DEX)
The release of Zenith DEX will come after the release of Zenith CEX. Zenith DEX will offer security and decentralization. There will be multiple liquidity pools, allowing crypto holders to contribute or buy.
Zenith Pay is the first product from Zenith Chains that seeks to bridge the gap between blockchain technology and orthodox technology. This product will connect cryptocurrency wallets to bank accounts. In this regard, users will be able to withdraw tokens directly to local bank accounts as fiat currencies. Similar to crypto ATMs. However, it will be deposited directly into your bank account.
The Zenith Metaverse is still a forward-looking product. However, Zenith Chain remains perfectly suited for the development of a Metavserse. It is compatible with smart contracts and will make it easier to mint NFTs. Considering the low fees, Zenith Chain provides a very effective foundation for developing a metaverse.