/biz/ - Business & Finance

>>23138540
I remember someone talking about this in a thread a couple of weeks ago, is it meant to be Dorsey's coin or something?

>>23138540
I have no fucking clue what Zenon is or what it does after looking at their website for 5 minutes.
Is it a videogame?

>>23138719
No, definitely not his. Zenon is always going to be an independent, massively-decentralized, community-led project.

>>23138921
So a scam?

>>23138772
Not a vidya.

>>23138936
Very likely not a scam. We will know that for certain in a few weeks when the alphanet launches. Also they proved trustworthiness when the project launched by taking bitcoin in exchange for stakes in the network, and returning the bitcoin.

>>23138772
Okay I'm just gonna be generous here and give out the goods for dubs since I have shit to do. Zenon is a massively scalable DAG/block lattice hybrid project; its independent and decentralized so Square will never own it or run it; but they will very likely be using it if all the research that its community has done bears true. They will use it to scale micropayments in Bitcoin, so that all of their Cashapp and Square merchant services users make their transactions in bitcoin, and can receive payment in any form they desire, whether its dollars or Bitcoin or whatever they want. They've already received a patent for the last phase of the transaction.

https://cointelegraph.com/news/jack-dorseys-square-awarded-patent-for-real-time-crypto-to-fiat-swaps

Zenon will scale Bitcoin to make this possible. Do some research into Lightning Network; the same thing isn't possible in a massively scalable way, so they are pursuing this.

DYOR anons but I wouldn't wait too long, this train is quickly leaving the station. Old threads on warosu have lots of info.

>>23139120
Ok, but why are they bothering with bitcoin? Isn't it like trying to prop up a dead horse, tech wise? Wouldn't they be better off using something like an ethereum e-20 token?

>>23139298
First mover advantage brainlet

>>23138540
just fuck off

>>23139298
>>23139298
I don't think so. The BTC value proposition debate has been had so many times already, and seems to have reached some sort of consensus, but Bitcoin is a fundamental store of value as a finite digital asset, and its also an archetype. It is rarer than gold and just as good as a signifier of inherent value as gold is. Everyone knows about it and recognizes its value. The problem in using it as money has always been the ability to transact with it, which is limited. Find a way to transact with it and you instantly have sound money again.

All of these other tokens being attempted are seen as counterfeit bitcoins. You'd probably have to find a way to destroy bitcoin at this point in order to supplant it. And all of the supposed alternatives are inferior. They're based on underlying assets and not signifiers of value themselves, and composability makes them fragile and prone to fraud or technological failure.

Dorsey took the long view on BTC a while back and he's probably going to end up being proven right.

In the meantime, all you have to know is that Zenon is going to be processing all of the transaction volume of Square's payments network, in addition to whatever other partners end up using Zenon's DLT. Supposedly its going to also be used for porting legacy web appls to Web3, dapps (called zApps here) and Internet of Things.

>>23139298
>Isn't it like trying to prop up a dead horse, tech wise?
give it up honestly. tech doesn't fucking matter. lol get dabbed on

>>23138540
Zenon shills STILL trying this? Man it's fucking over. Better have a DMG position open this month.

>>23140140
You are unironically retarded if you believe tech doesn't matter, the crypto space is fucking tech midwit. There's a reason no one uses landline phones anymore.
>>23139899
An interesting insight, although I don't believe
>All of these other tokens being attempted are seen as counterfeit bitcoins
To me, it's just an instance of different use cases for different crypto. Bitcoin = storage of value, ETH = crypto OS, XRP = international banking, and so on. It's not a case of alternatives, but different business models all together. But I'll keep my eye out on this Zenon project, it looks like it's starting to form connections

>>23138540
Surely VRA is next in line think about it. E-sports.

>>23139120
So this is just a patented project will make corporate profits for Square? And that is what you retards think Bitcoin should be?

>>23141458
>You are unironically retarded if you believe tech doesn't matter, the crypto space is fucking tech midwit. There's a reason no one uses landline phones anymore.

they're going to get a reality check in the next few years. sure, bitcoin will go up for a while longer, but ultimately it will succumb to its own self-limiting design. it's not a hard commodity and its value very much depends on the health and efficiency of the bitcoin network as a whole. i'm sure most investors understand this at some level, so i'm always puzzled by news like this.

>>23139899
>It is rarer than gold

what a bizarre thing to say

25% of Americans aged 24 to 38 owns one or more cryptocurrencies. Hope you were early.

>>23138540
Delete this thread.