Zennet Decentralized Cloud Network Releases Details of Zencoin Presale

By November 11, 2014Bitcoin Business
Click here to view original web page at bitcoinmagazine.com

An initiative that aims to create the world’s largest decentralized public “”supercomputer” has just come out of stealth mode. Zennet is a network that allows anyone to sell their idle computation power and anyone to rent it. Using Zennet’s infrastructure and the Blockchain, people that want to monetize their computation power can connect and trade with people who are looking to access vast swaths of power at free-market prices.

The Zennet initiative is the brainchild of renowned developer Ohad Asor. It lives in the world of distributed and decentralized Blockchain applications, and in the fields of Big Data and High Performance Computing. These fields have captured significant investments in the software market over the last few years, experiencing huge growth. HPC and Big Data are used in countless industries, including medicine, government, and marketing.

Zennet aims to power this expansion using the huge amounts of computational resources around the globe that are not being adequately utilized. Zennet has the potential to drastically reduce the cost of computational power and bring new magnitudes of speed to HPC consumers. Typical users are mathematicians, machine learning and image processing engineers, scientists, and data analysts.

The Zennet network is 100% distributed and decentralized: there is no central entity of any kind, similar to Bitcoin. All software will be open source. Bidders who wish to access computational power will pay providers directly, there is no middleman.

Users that want to buy computational power will use Zencoins. Zennet has just released details of its presale of Zencoins where 10 percent of all available Zencoins will be released. The price discovery sale, currently planned for mid-November, focuses on the Bitcoin community. Asor said, “Zennet’s founders are proud members of the Bitcoin community. We believe that this community understands the future of decentralization better than anyone else.”

Indeed, there has been significant enthusiasm about the project from the Bitcoin community on Bitcointalk.com. Prominent Bitcointalk member known as HunterMinerCrafter said that if the infrastructure is secure, “I firmly believe that new adoption of the technology will (briefly) outpace new adoption of bitcoin.  No joke.  If this thing works or even just “works” there will almost certainly be a mad rush of both publishers and providers.”

“This presale will precede other sales that are intended mainly for the global crowd (via cryptocurrencies or fiat money), such as corporations, academia, research centers, etc. Any future selling of Zencoins (by the team) will only occur at a price higher than the price set during this initial pre-sale. This is to ensure that the early adopters are rewarded by having purchased zencoins at the cheapest possible price point” said Asor.

We are certainly staying tuned!

For more information, Zennet’s website is www.zennet.sc.

The Zennet initiative is the brainchild […]

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