A Report on ZNN and the Network of Momentum

Overview:• Zenon combines Proof of Work (POW) and Proof of Stake (PoS) in a Layer 1 (L1) smart contracts.• Offers fee-free transactions, inspired by Bitcoin's decentralization approach.• Functions as both an independent L1 and a Layer 2 (L2) solution for Bitcoin, enhancing scalability and creating a trustless Layer 3 (L3) zApp ecosystem.Architecture and Functionality:• Integrates PoW and PoS for enhanced security and fee-free transactions.• Operates as L1 independently and as L2 for Bitcoin, leveraging Bitcoin's security.• Features 'Network of Momentum' architecture with Meta-DAG and block-lattice structure for high transaction throughput.• Focuses on Bitcoin interoperability, employing taproot utilization.Merge Mining with Bitcoin:• Enables dual mining, allowing simultaneous mining of Bitcoin and Zenon.• Simplified setup process for miners to earn both BTC and Zenon rewards.Development and Team:• Team building since 2019. Github is active( Lead dev has 331 commits in 7-8 different repositories (related to the project) this year, Their website development dates back to April 2019.Innovations and Milestones:• Inscribed name in Bitcoin's taproot upgrade, Basically they were much ahead in building a Bitcoin L2 solution.• Recent integration of HTLC - Atomic Swaps and testing for cross-chain BTC swaps.• Future plans for EVM-compatible extension chains for smart contract deployment.Tokenomics:• Total Supply: 10.5 million ZNN, market value approximately $29.7 million.• ERC20 Token Supply: 537k ZNN tokens on Ethereum, with $1.5 million FDV and $780 liquidity. via /r/CryptoMoonShots https://ift.tt/bGeknri