CENNZnet (CENNZ)

What is CENNZnet? CENNZnet is an open source, permissioned blockchain platform powered by its native cryptocurrency, CENNZ. It was developed by New Zealand-based software development company Centrality, and was first announced in late 2017. CENNZnet is based on the Ethereum blockchain and utilizes a unique consensus algorithm, allowing it to handle large transaction volumes while reducing energy consumption significantly compared to other blockchain networks. Who founded it? CENNZnet was created and founded by the software development company Centrality. The team is led by CEO Aaron McDonald, who has over 15 years of experience in software development and technology startups. Centrality has over 40 staff members, who are spread across four offices around the world. What Makes it Unique? What makes CENNZnet different to other blockchain networks is its consensus algorithm, called 'Proof of Resource and Validation’ (PoRV). This model was designed to minimize the sizable energy consumption associated with mining and validation of transactions on other networks. PoRV requires miners to use specialized hardware, along with a 'staking' system to provide incentive for nodes to continue to power the network. Where does it used? CENNZnet is primarily used for digital assets and transactions. Centrality’s goal is to reduce the cost of digital assets transactions, making them more accessible to both businesses and individuals. CENNZnet is also used for identity management, and as a platform for creating and running decentralized applications (dApps). Where to buy/sell it? CENNZ is available to purchase on a number of cryptocurrency exchanges, and can also be traded on select crypto-fiat (fiat-to-crypto) exchanges. Popular crypto exchanges include Bitfinex, Bittrex and Huobi. You can also buy and sell CENNZ via a cryptocurrency wallet, such as MetaMask.