Question 1

What is the current price of CENNZnet (CENNZ)?

Accepted Answer

The current price of CENNZnet (CENNZ) is ADA 0.00885695, with a 24-hour trading volume of 0.2M.

Question 2

What exactly is CENNZnet (CENNZ)?

Accepted Answer

CENNZnet is a public blockchain network built in New Zealand. It supports the development and operation of decentralised applications (DApps) and is powered by the cryptocurrency CENNZ and CPAY. The network aims to simplify the user experience of blockchain-based services, promoting enhanced network transparency, data privacy, and reliability that come with decentralized systems.

Question 3

Who is behind CENNZnet?

Accepted Answer

The team behind CENNZnet is Centrality, a tech venture studio from New Zealand. Centrality aims to create a marketplace of blockchain applications powered by a plethora of interconnected DApps and seamless user experiences.

Question 4

How does the CENNZnet software function?

Accepted Answer

CENNZnet operates with a unique dual token system, CENNZ and CPAY, that benefits developers, users, and token holders. The CENNZ is the staking token whose value is independent of block rewards. CPAY is the gas in the network, used to cover transaction fees and disbursed as block reward payments in staking. This token is designed to maintain algorithmic stability ensuring a predictable cost for developers and consistent value for stakeholders.

Question 5

What consensus mechanism does CENNZnet use?

Accepted Answer

CENNZnet employs a Proof of Stake (PoS) consensus mechanism. In this setup, node operators stake tokens (in this case, CENNZ) as collateral against their duties. Correct performance of duties results in token rewards (CPAY) while any violations result in token loss or slashing. This process provides security by incentivising protocol adherence and discouraging network attacks.

Question 6

How does governance work on CENNZnet?

Accepted Answer

CENNZnet achieves governance through 100% on-chain operations, utilising blockchain’s built-in voting mechanisms. Validators and node operators vote on proposals through a direct democracy-like system, resulting in automatic, algorithm-governed results. Winning decisions are then inbuilt into the protocol automatically.

Question 7

What unique features does CENNZnet offer for DApps and their users?

Accepted Answer

CENNZnet provides DApp developers with access to its core modules for building DApps without the need for working with smart contracts. One of these modules is the NFT module that enables users to mint and sell their non-fungible tokens (NFTs). Another is the CENNZX module – a spot exchange module that offers instant and user-friendly token exchange. The CENNZX Spot prides itself on decentralisation, usability and security while eliminating rent extraction and centralised services. The Generic Asset protocol underlies CENNZnet’s multi-currency operation. It permits transaction fees’ payment in any asset (given it has enough liquidity in CENNZX in-chain GAS exchange) and automatically converts the asset into the official CPAY gas token. Lastly, the Doughnut module allows for the proof of delegation between two cryptographic keypairs, thereby promoting user data privacy while ensuring an excellent user experience.

Question 8

What is the total and circulating supply of CENNZnet (CENNZ)?

Accepted Answer

The current circulating supply of CENNZnet (CENNZ) is , while the total supply is 1.2B.

Question 9

Where can you buy CENNZnet (CENNZ)?

Accepted Answer

CENNZnet (CENNZ) can be purchased on Bithumb, HitBTC, LBank, among other cryptocurrency exchanges.

Convert CENNZ to ADA

Try our Crypto Pro app