Ethereum Vs Zen Protocol

A lot of coins out there promise to provide a network for d-apps and smart contracts to make their coins more attractive. Ethereum, the second largest coin by figures of market cap has even many other coins be offered on top of it, promising to be disruptive game changers. Frankly, Ethereum itself lived up to at least one promise by introducing to the world a new mode of funding startups, the ICO, where coins are issued.

One of the main problems of Ethereum’s smart contracts are the fact that code sometimes has unforeseen and undesirable results as it runs, as in the case of the DAO a contract that was supposed to be used as a decentralized investment fund of sorts, with voting on the allocation of capital being distributed to the holders of shares in the DAO, a hacker was able to use a flaw in the contract (or, as one researcher suggests, in solidity itself) to take the funds in the contract to himself, and causing vitalik to hard fork and roll back the Ethereum network to refund the the DAOs participants, leading to the creation of ETC.

Solidity, the language used to write ethereum smart contracts is flexible and versatile. But that might be a curse in disguise, as the cost of running a piece of code in solidity can’t be determined ahead of time, leading to high costs of running the contract and unpredictability in whether or not the contract works as intended. Because money is on the line, it is important that the contracts operations could be clear to the users ahead of time - this is where Zen protocol comes in.

Zen’s use of the F* programing language, which has a code proving mechanism built-in known as “formal verification”, allows contracts to have both clearly proven cost and functionality, this feature alone will introduce ground braking security and clarity,and, for the first time, will introduce dependable smart contracts to be used for mainly financial applications.

Mining is another critical element in Dapp blockchain coins, to maintain trust in the system, it is crucial that it remains decentralized and that the consensus will be kept between the miners and users of a currency, Zen’s multi-hash mining algorithm plans to solve the ASIC and miner centralization problem eth faces without resorting to proof-of-stake, which has the problem of over-compensation of current stakers at expense of current future users. Multi-hash mining allows coin holders to adjust the target probability of finding the next block with a given hash function, thus making life difficult for a rogue miner, the combination of user voting power and mining is a new mode of governance for crypto, and it seems to be making strides.