About Zenon (ZNN)
Zenon (ZNN) Interest in decentralized systems was reignited by the rise of Bitcoin  born in the midst of the 2008 financial crisis and paved the way to countless research initiatives and innovative technologies in the space of computer science and beyond, with focus in areas of cryptography, distributed systems and game theory. A new concept, the blockchain, was popularized by emegent cryptocurrencies that exploited the nature of decentralization to create complex economic systems that culminated with the implementation of the first general Purpose bytecode execution platform, Ethereum , and enabled trusted computation among a group of mutually distrustful participants and further materialized in a myriad of decentralized applications ranging from creating self-sovereign identities, peer-to-peer energy markets, prediction markets, improving supply chain logistics to complex financial instruments. A wave of innovation was fueled by their success in the market and shaped a rich landscape of thousands of cryptocurrencies.
Zenon (ZNN) Consequently, several consensus algorithms and new ledger data structures have emerged for decentralized systems, each of which retains interesting capabilities and unique properties as we will explore in the following sections. This paper presents a decentralized ledger system that features a leaderless, fully-local and scalable consensus algorithm based on virtual voting coupled with proof of work and proof of stake anti-sybil  mechanisms that reaches eventual consensus with probability one. The concept of virtual voting was known long before in the literature, starting with the pioneering paper ”Byzantine Resistant Total Ordering Algorithms”  by Moser and Melliar-Smith where they formulated four algorithms to establish a total ordering from network events. The peculiar concept of virtual voting that later reappeared in other papers such as Hashgraph , PARSEC  or Blockmania , was the ability to execute a virtual agreement protocol, as authors Moser and Melliar-Smith cleverly observed long before and exploited the fact that votes weren’t explicitly contained in the messages, but were deducted from the causal relationships between them.
Zenon (ZNN) contributions of this paper are outlined as follows: the protocol comprises of a dual ledger architecture, a meta-DAG created by participating consensus nodes, a projection of the meta-DAG that represents the transactional ledger, a proof-of-work link between relayed transactions emitted by clients, together with the following properties and functions: a vote-weighting function based on proof of stake for participating consensus nodes, an incentivization scheme based of proof of work, a difficulty oracle and a super-quorum selector. The remainder of the paper is organized as follows: in Section II we will discuss basic notions about the Bitcoin protocol and smart contracts and in Section III we will provide some insights about various state-of-the art components that comprises a decentralized ledger system. We build system on a dual directed acyclic graph based architecture called Network of Momentum that
Zenon (ZNN) Storage Key Points
|Circulating Supply||5,668,149.25 ZNN|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Official Project Website||Click Here To Visit Website|
Zenon (ZNN) Proof of Stake was proposed as candidate to solve a number of potential shortcomings of the proof of work consensus such as energy consumption, miner centralization and certain types of economic attacks. One of the first cryptocurrencies to implement PoS as a consensus algorithm in their blockchain network was Peercoin , released in 2012; the success sparked a wave of innovation, culminating with the Ouroboros protocol, a provably secure PoS algorithm  that is at the core of the Cardano cryptocurrency . The core notion of the PoS consensus algorithm is the block creation process that requires a proof that the participating node owns a certain number of coins. Naive implementations of PoS may lead to unexpected problems that naturally don’t occur in PoW based cryptocurrencies: the ”nothing at stake” problem , short or long range attacks, coin-age accumulation, precomputing attacks, stake-grinding or cartel formation attacks.
New Kind of Network  proposes a new consensus algorithm that is based on cellular automata and a mathematical framework developed for the Using model. The nodes act as cells and together with a message-passing algorithm based only on sparse local neighbors and a MVCA algorithm  (i.e. Majority Vote Cellular Automata, an algorithm that uses majority vote as updating rules for the cells) they reach consensus
Zenon (ZNN) Virtual voting is a concept introduced by authors Moser and Melliar-Smith in 1999, where the main idea is to interpret messages as virtual
When designing a distributed system, there are some attributes any distributed system exhibits and we want to obtain a good balance between them: • Consistency: when a node requests the state of the system – in our case the distributed ledger, the consistency means that we will obtain the most recent state of the system. • Availability: For a request for the state of the ledger, there must be an answer, even if the answer does not reflect the latest state of the ledger. • Partition tolerance: The system continues to be functional even if there are message failures in the system. The CAP theorem  states that it is impossible to achieve all three properties simultaneously. However, we design the network to have partition tolerance, availability and eventual consistency – after a number of retries, a node will eventually find the state of the network at the time of the request. The eventual consistency is preferred over availability in many other distributed systems.
Zenon (ZNN) should be immutable in the sense that they cannot be modified or tampered with. Running zApps on untrusted hardware should be trustless and deterministic and one should expect consistent results. • Privacy: To provide means that protect the privacy of participants, both internal between them and external from third parties, based on secure multiparty computation protocols. With the rise of the unikernel (i.e. minimal stand alone virtual machine), these properties can be achieved using a smart contract layer to create a hybrid system suitable for complex workloads. The most important advantages in using an based approach are in terms of security – they are completely isolated from the host and performance – they are lightweight and run at native speeds. Regarding security, are systems designed with a single process and a limited number of system calls, further reducing the attack surface in terms of remote code execution, shellcode attacks, etc. They further limit potential attacks by lacking a user based system: