ZenCash Jumps 50% in July Leading up to First Super Node Rewards
The price of ZenCash (ZEN), a privacy-focused cryptocurrency platform (now rebranded as Horizen), has surged 50% in the month of July as the project prepares to begin paying out the rewards for its new Super Nodes, starting July 19.
Three months ago, we announced the Super Node concept; fast forward three months, Super Nodes take off. We're one leap closer to transitioning toward a platform! Set up your Super Nodes now, earnings start on 7/19! https://t.co/dHbGBnyCWB https://t.co/xazZMtKuDw
— Horizen (@horizenglobal) July 16, 2018
The ZenCash Super Nodes system is designed to build off the already established Secure node system, which is a unique network of nodes that keep the ZenCash blockchain decentralized and running. These new Super Nodes, which ZenCash investors can now set up, are designed to add two major improvements to the project’s network.
- Tracking and payments will be brought on-chain, making the ZenCash protocol more efficient and scalable.
- Sidechains are introduced to expand ZenCash’s platform utility, allowing for the integration of third-party technologies.
With the addition of the Super Nodes, the ZenCash block reward distribution will be adjusted. Node operators will now receive 20% of the block rewards, evenly split between Secure Nodes and Super Nodes. This is a boost from the 3.5% previously.
Additionally, the ZenCash Treasury will receive 10% of each block reward, which is an increase from the previous 8.5%. To accomplish these adjustments, miners will receive 70% of each block, down from 88%.
Speaking to the launch of the Super Nodes, ZenCash Senior Marketing Manager, Jonathan Teplitsky, told us that the new system ultimately allows more investors to participate in supporting the ZenCash infrastructure.
Adding Super Nodes to our already robust network of 13,000 nodes is an important step in transforming ZenCash into a privacy platform. As a community project, it was important for us to keep the barriers to participation low, which is why we’ve kept the staking requirement at only 500 Zen.
Building off the momentum of the Super Node launch, the ZenCash team has made the decision to launch a brand expansion campaign in August to better fit its growing platform applications and growth aspirations.
“After months of interviews with community members, investors, and advisors, we are extremely excited to announce our new brand in August,” said Teplitsky.
While the full details are not available at this time, we do know that similar branding events have proven to be value creators for other large-scale projects. This ultimately works to benefit the investors backing the project.
More: The ZenCash Super Node tracking servers was made public on July 10th, and earnings start July 19
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.