Replies from Zano Project — CoinEx You Ask We Answer VOL.25 Featuring Zano

Earlier this month, we had the CoinEx You Ask We Answer VOL.25 featuring Zano. Thanks to the community’s enthusiastic participation, we gathered numerous insightful questions. The Zano team has carefully reviewed all submissions and selected the most frequently asked questions to address.

1/ Q: Can you explain the key motivations behind the creation of Zano and how it builds upon the original CryptoNote codebase? What specific advancements does Zano offer over the original CryptoNote in terms of privacy, security, and scalability?

A: Since the creation of CryptoNote 10 years ago, there have been numerous innovations and improvements not only by the Zano project but also by other major contributors like Monero. Listing all the enhancements would take several pages, as it represents over 10 years of continuous research and development. However, the main obvious improvements include hiding transaction amounts, increasing the ring size of decoys, and significant consensus enhancements.

2/ Q: Can you describe the security measures implemented in Zano to protect against potential attacks?

A: Primarily, we utilize an advanced and robust consensus mechanism that relies on the security of both traditional PoW and a more complex version of PoS. Together, they create a uniquely secure system that makes attacks on the Zano blockchain infeasible.

3/ Q: Do you have any plans to burn tokens in the future to reduce coins? If you want to supply tokens and increase their investment attractiveness?

A: On Zano’s blockchain all transaction fees are paid in ZANO. These fees are immediately being burned, resulting in daily ZANO burns. The more the network gets used, the more ZANO gets burned, potentially even making the supply become deflationary over time.

4/ Q: In your opinion, what are the 3 biggest things that Zano offers to its users?

A:

• A complete ecosystem to transact, issue, trade, and bridge Confidential Assets.
• A platform for privacy-focused, decentralized applications (dApps).
• A secure and private store of value, strongly tied to the increasing demand for private DeFi.

5/ Q: The staking program is very important for every project, can I stake your token? Do You have any plans for starting a staking program?

A: Yes, you can stake Zano and it’s as easy as flipping a single switch on your desktop wallet, currently the APY is estimated to be 3.63%. More so, when staking Zano, you don’t have to deal with any kind of slashing, minimum amounts, lock-ups, validator nodes, prohibitive network/uptime requirements nor a loss of privacy (your balance will remain hidden).

6/ Q: What major partnerships does your project intend to use or how does your project bring its products to the average consumer — especially non-crypto users?

A: We have recently announced partnerships with Cake Wallet and Bitcoin.com. They will both integrate ZANO into their wallet apps. We make our products as user-friendly as possible to ensure the adoption of our blockchain.

7/ Q: What are Ionic Swaps and how to use them?

A: Ionic Swaps are an improvement on Atomic Swaps, innovating seamless cryptocurrency exchanges while preserving user privacy. Ionic Swaps are a safe and consistent way to perform peer-to-peer swaps in which neither party has an unfair advantage. This technology is used by the DEX and for instant swaps from within the Zano wallets.

8/ Q: What are the innovations and activities you will do on behalf of the project for the next year?

A: For the next year, we’re planning on expanding and improving the APIs to enable all kinds of asset applications and dApps for our privacy-focused ecosystem. All other plans can be found here: https://zano.org/roadmap

9/ Q: Can you tell us some of the use cases of the $ZANO tokens in your platform? What are the benefits when buying and holding $ZANO tokens for a long period of time?

A: Zano is the native token used to pay fees on the Zano blockchain, combined with the fact that 100% of fees are burned, the more people use our dApps and transact with confidential assets the more demand and deflationary pressure is set on Zano, pushing up its value. ERC-20 tokens total $315 billion on Ethereum alone, so there’s no doubt that they have proved their usefulness, but we feel privacy is the missing component that will raise tokens to the security standard the industry demands. Privacy is already the norm in TradFi, businesses don’t want to expose their finances to their competitors and consumers don’t walk around with their bank balance on their t-shirts, Zano brings back normality to DeFi, and we think that markets will reward it.

10/ Q: How does $ZANO’s privacy compare to $XMR? Are native ZANO assets possible?‌‌

A: It is on par with Monero and enables the same level of privacy for each asset launched on Zano’s ecosystem.

Stay tuned for our upcoming You Ask We Answer series, where we’ll partner with various projects to bring more insights. We appreciate your support and hope our community gains a deeper understanding of potential crypto projects in the industry!

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 5 million users across 200+ countries and regions. Founded with the initial intention of creating an equal and respectful cryptocurrency environment, CoinEx is dedicated to dismantling traditional finance barriers by offering easy-to-use products and services to make crypto trading accessible for everyone.