Zenith ChainPrice

(ZENITH)

Zenith Chain is a Layer 2 Hybrid EVM blockchain designed to solve common issues like high gas fees and slow transaction speeds found on other networks. It positions itself as "Africa's first blockchain platform," operating as a hybrid blockchain that merges the speed of private chains with the interoperability of public ones. The project supports high-performance decentralized applications (dApps) and focuses on fostering economic empowerment and environmental sustainability within its ecosystem.

Zenith Chain functions as an EVM-compatible hybrid blockchain. It employs a Proof-of-Staked-Authority (PoSA) consensus mechanism, utilizing 21 validators to secure its network. This architectural choice enables exceptionally fast transaction speeds, achieving approximately 1.5 seconds per transaction, alongside significantly reduced fees. Its design ensures compatibility with Ethereum tooling, allowing seamless deployment and interaction of smart contracts and protocols familiar to Ethereum developers and users.

The native utility token, ZENITH Coin (ZENITH), fuels the Zenith Hybrid chain. It serves multiple crucial roles: acting as the settlement mechanism for decentralized applications (dApps) developed within the Zenith Hybrid Blockchain ecosystem, paying for transaction gas fees required for smart contract execution, and enabling network staking. The total supply of ZENITH is capped at 120,000,000 tokens, with a reported circulating supply of 80,000,000 ZENITH.

The leadership team behind Zenith Chain consists of several key individuals. Jonathan Emmanuel serves as the Founder and CEO, guiding the project's overall vision and strategy. Rajesh Chinnadurai holds the position of Co-Founder and CTO, overseeing the technological development and architecture. Dimeji Tomori is the COO, managing operations. Monalisa Agbata is the Marketing Lead Director, responsible for outreach, and Vivian A. is the Chief Business Officer, focusing on business development.

Zenith Chain rapidly progressed from its beta phase (Jan-Mar 2021) to full readiness by October 2021. Its development roadmap includes a comprehensive ecosystem. Key current developments feature an NFT marketplace, notably with a dedicated section for musicians, and the Zenith CEX, a centralized exchange supporting over 200 cryptocurrencies with advanced security like cold wallet storage and biometric login. Other components are Zenith Scan, a blockchain explorer, and the Zenith Multi-Chain Wallet, offering compatibility across various networks such as Bitcoin, Ethereum, BNB Smart Chain, TRON, and its native ZRC-20. Additionally, Zenith Ventures provides an accelerator program for emerging blockchain projects.

Zenith Chain prioritizes security through several mechanisms. Its EVM compatibility and Proof-of-Staked-Authority (PoSA) consensus algorithm require a 51% majority of validators to validate and seal a block, safeguarding against malicious attacks. The network further enhances resilience by utilizing 24 nodes distributed across various servers. For its Centralized Exchange (CEX), Zenith implements robust security features, including cold wallet storage for digital assets, along with biometric login and multi-factor authentication, providing advanced protection for user accounts and holdings.