Consumer-orientated blockchains are being targeted by projects across the decentralised spectrum. But where others are scrambling to work out where to start, New Zealand’s CENNZnet is already succeeding.
CENNZnet’s native permissionless chain with plug'n'play protocol modules supports projects with real applications and devs with little to no Blockchain experience. We sat down with CEO Nicole Upchurch to learn more.
What is CENNZnet in your own words?
CENNZnet is a public, proof of stake blockchain that puts user experience first. We supply startups with the tools and resources that they will need to build a blockchain DApp - so they don’t have to spend 18 months and a million dollars creating the basic functions that every DApp needs - wallet, identity, exchange, messaging - plus our NFT API.
What other blockchains is CENNZnet compatible with?
We are just about to launch Emery, a token Bridge which connects CENNZnet to Ethereum allowing our community to easily transfer ERC-20 tokens, Native ETH, data and assets (like NFTs) between the two chains.
We’re also actively working on a Cardano bridge and have plans for up to 5 more bridges over the next 6 months.
How are the CENNZnet DApps better than all the other ones out there?
DApps built on CENNZnet can benefit from our array of pre-built core modules within the blockchain protocol. With CENNZnet, developers can apply blockchain using just javascript APIs – no smart contracts required.
We cover 80% of use cases as plug n’ play runtime modules that developers can simply opt-in and out of. This means devs can focus their time into making their DApps even more awesome, or building robust business strategies.
CENNZnet has also been designed with partial decentralisation in mind… or a pinch of blockchain. Devs can use CENNZnet to add a bit of blockchain to their apps where it makes sense.
Using our APIs you can harness blockchain for multiple purposes or just a single functionality.
What is the Doughnut module all about?
Doughnuts are our patented protocol, designed to give DApp users on CENNZnet total control over their data while still being able to seamlessly interact with various applications.
Doughnuts are actually a protocol level proof of delegation system, designed so DApp users can decide exactly what information a DApp can access and specify the purpose.
For example, if a DApp only needs your wallet address for one specific transaction, you can sign a ‘Doughnut protocol’ that allows them to use the specific piece of information only for that one action.
This protects both users and DApp devs from having to deal with excessive amounts of private data. You can learn more about how they work here.
What is simple predictable token pricing and why do dApps need it? What is a dual token economy and why do we need it?
I think everyone involved in blockchain right now would agree that gas fees are out of control. At its worst, simple transactions are costing way more to perform than they are actually worth, and there is no way to control them once they start climbing.
We’ve designed a system that will prevent gas fees ever becoming an issue for users and DApp devs. Our dual token economy makes use of 2 tokens: one for staking and securing value in the system (CENNZ) and one for paying transaction fees (CPAY).
CENNZ is the market token and will rise as the market sees fit, while CPAY is algorithmically designed to be stable and predictable for users and businesses who operate on CENNZnet.
This is particularly useful for DApp devs as it means they can predict their future costs and make profitable decisions accordingly.
How is the CENNZnet NFT API different from other platforms?
Our NFT module has a few special properties.
- No smart contracts: Using our module you can mint and sell NFTs on CENNZnet without ever needing to touch a smart contract. Instead, users can create custom NFTs using just a Javascript API or point and click with a UI.
- Add functionality: With the CENNZnet NFT module you can get the best of both worlds. Use the smart contract free mode for fast initial minting, but then bring in your own smart contracts at any point to get adventurous with your NFT functionality.
- Be sure of your ownership: NFTs, specifically the hash which attributes data ownership, are traditionally completely separate to the actual file, posing some difficult questions about what it means to ‘own’ and NFT. On CENNZnet any data which is stored off-chain is accompanied by a fingerprint (hash) within the NFT itself. This means that users will be able to verify the off-chain data against the fingerprint stored on-chain.
How do you make DApps easier to build?/ What is a prebuilt runtime module and why do NFT builders need one?
Good question! The core mission of the CENNZnet protocol is to make blockchain development and functionality available to everyone.
To make this possible we’ve done as many of the time-consuming parts of DApp building for you in the form of our prebuilt core services (or runtime modules).
These work a bit like plugin functionalities. DApp developers can use and rely on our prebuilt core components (which provide services all DApps need), rather than having to code their own essential parts from scratch.
What functions can creators add to CENNZnet NFTs?
Anything! That’s the fun part. NFTs have hardly started yet so now is not the time for limitations. If you wish to add more complex or unique features to your NFTs you can add them to the module’s functionality with your own smart contract.
This can be done during your minting process or any time afterwards.
This gives devs a pretty awesome opportunity to take advantage of a simple quick start NFT module, without then having functionality forever restricted.
CENNZnet offers a middle ground where you can gradually improve and advance your NFTs as time goes on, business needs change or further opportunities arise.
What is a decentralized spot exchange and why do NFT creators need one?
Our decentralised spot exchange, CENNZX, provides a secure, fast and transparent way for CENNZnet users to exchange their tokens.
By having a reliable automated on-chain exchange, tokens can be traded in full confidence that the transaction is secure and fully recorded on the decentralised ledger. This prevents common issues with centralised exchanges, which are often hacked.
