Zenotta, a new blockchain based on Bitcoin’s UTXO ledger and proof-of-work mechanism, introduces a perfected form of transaction, non-custodial swap, and NFT ownership based on Bitcoin technology.
The true object of value in the digital space is the file. If a laptop terminally crashes, people are normally not concerned about the hardware and their programs, but about their files — whether it’s their pictures, songs, reports, movies, and so on.
However, in today’s world there is a crippling lack of tools that enable legal ownership of files and digital assets and properly represent value in a safe and reliable digital manner. Zenotta has addressed this problem in a comprehensive way. In a multi-year process, the team, led by Zenotta’s CTO Andrew Kessler, developed a seminal solution that resolves the digital ownership challenge by leveraging a proprietary and patented technology called Smart Data.
Smart Data is a decentralized file format under blockchain governance, which is programmable and secured through encryption, encoding, and an immutable blockchain ledger. The Zenotta blockchain provides both a native payment token (a coin) and, for the first time, a receipt that offers a proof-of-purchase for a transaction. The Smart Data token is a form of NFT with perfected ownership, allowing the owner of the data to retain ownership and control of it based on identity rather than on access, with immutability of the historical record provided by the Zenotta blockchain.
Zenotta’s blockchain re-imagines digital ownership and grounds it in a legal framework. It allows for rights to be assigned to data and enables peer-to-peer electronic trade through the world’s first two-way ledger for digital payments and assets, thus allowing machines to natively understand and deal with digital value – for the first time. The next leap in the evolution of the crypto space: from smart money to smart contracts, to smart data, which encapsulates peer-to-peer electronic cash, peer-to-peer electronic trade, and peer-to-peer electronic contracts, all in one. The new, decentralised file format provides a perfected form of ownership via blockchain governance, empowering individuals, organisations and governments and enabling inclusive collaboration.
As a first use case, Zenotta announced the upcoming launch of playingfields.com, a universal smart data platform for in-game assets and in-game currencies, which enables inter-game asset ownership, as well as provision for traditional financial instruments and non-custodial swaps. In April, Zenotta will launch the zenotta.io resource hub for developers, while the company’s testnet will be made available in Q2 2022.
Elements of the Zenotta Ecosystem:
Zenotta Protocol: A new layer 1 blockchain using proof-of-work consensus
The Zeno: The currency of the smart data economy, powering peer-to-peer electronic trade
Zenotta Smart Data: Ownable, unique, identifiable, programmable, intelligent, structured
Smart Data Contracts: A new paradigm for Smart Contracting, underpinned by a legal framework, compliant with mandatory law
A Value-based Digital Platform: A marketplace for everything digital, enabling metaverses of value