The state-of-the-art L1 blockchain developed by Zenonfi addresses the challenges faced by many existing blockchain platforms. It utilizes a multi-chain structure that allows for seamless scalability to meet the growing demand for blockchain technology. This innovative architecture ensures fast transaction processing, lower fees, and improved overall efficiency.
One of Zenonfi's standout features is its unique wallet integration. The ecosystem includes an advanced crypto wallet that enhances the user experience in several ways. The wallet supports storage for coins across ten different blockchain networks, offering versatility to users who hold multiple cryptocurrencies. It also incorporates state-of-the-art security features such as advanced encryption, biometric authentication, and robust backup options. Additionally, the wallet boasts an intuitive and user-friendly interface, catering to both beginners and experienced users.
Zenonfi's staking mechanism provides users with the opportunity to earn attractive Annual Percentage Rates (APR) on their staked assets. Operating on a Delegated Proof-of-Stake (DPoS) mechanism, the staking program ensures efficient and speedy validation of transactions while maintaining network security. Participants not only receive financial rewards but also have a voice in the governance of the network, promoting community engagement and alignment of the platform with user preferences.
At the core of Zenonfi's ecosystem is its native token, Zenon. With a total token supply of 100,000,000 Zenon, the tokenomics are designed to support the growth and sustainability of the platform. Zenonfi incorporates a 9% tax on both sell and buy transactions, serving various purposes such as maintaining liquidity, supporting project development, and discouraging excessive trading. Liquidity is locked for one year to enhance security and create a stable and secure trading environment.
Zenonfi has implemented the QBFT (Quorum Byzantine Fault Tolerance) consensus mechanism in its L1 blockchain. QBFT is widely recognized as an enterprise-grade consensus protocol, particularly suitable for private blockchain networks. In the context of Zenonfi, QBFT relies on a group of pre-approved accounts known as validators who play a crucial role in validating transactions and confirming the legitimacy of blocks. The rotation of validators in block creation prevents centralization and enhances network security. QBFT also enables remarkable scalability, resulting in a significant increase in Transactions Per Second (TPS).
