Zarcanum is designed to improve security and introduce multi-asset, decentralized finance applications to the Zano network.
Zano has announced the Zarcanum network upgrade designed to transition its blockchain from a single-asset chain to a multi-asset, decentralized finance network.
“The anticipation surrounding the Zarcanum hard fork has been palpable, with many in our community viewing it as a pivotal endpoint,” Pavel Nikienkov, the project manager and core developer at Zano, said in an announcement sent to TheStreetCrypto. “By introducing Zarcanum, we’re not just updating; we’re adding a whole new dimension to our project’s growth. This is the beginning of an era where our platform evolves, expands and truly flourishes.”
Zano is a privacy-focused blockchain project that seeks to bring user security to the mainstream adoption of digital assets. It leverages a proof-of-stake (PoS) protocol that integrates hidden amounts, untraceable transactions, confidential assets, anonymous marketplace creation and aliases to that end.
“The (Zarcanum) hard fork … is extremely important for improving Zano privacy and it’s for sure a huge milestone for us,” said Zano lead researcher Valeriy Pisarkov, per the announcement. “We wrote more than 34,000 lines of code across 1,200 commits to implement Zarcanum PoS, confidential assets, ionic swaps, bulletproofs+, ringCT with hidden amounts and did many tests for them. At the same time, the hard fork itself is a stressful time. We will be watching the network and blockchain very closely to make sure it will go smoothly.”
Zano has also announced the creation of the Zano Grants Program to help developers work with Zarcanum.
“With backing from longtime bitcoin investors such as Roger Ver, and other prominent figures in the crypto space like Vikrant Sharma and Douglas Tuman, Zarcanum is ready to change the way companies do business,” the announcement added.
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