Zano

Zano is a privacy-focused Layer 1 blockchain launched in May 2019, built for confidential transactions and private asset issuance. All transactions are private by default, with sender, receiver, and amounts hidden using Ring Signatures, Stealth Addresses, and RingCT technology. Zano runs on a hybrid PoW/PoS consensus mechanism. In March 2024, the Zarcanum hard fork introduced the world's first fully private Proof-of-Stake scheme, where staking amounts remain hidden while ownership is proven cryptographically. The same upgrade launched Confidential Assets, allowing anyone to issue private tokens and stablecoins on Zano's blockchain with the same privacy guarantees as the native coin. History The origin of Zano dates back to 2014, when Boolberry, a privacy-focused cryptocurrency, was created. In 2019, Boolberry transitioned into Zano. Zano’s lead developer, Andrey Sabelnikov, was crucial in developing CryptoNote together with Nicolas van Saberhagen, the first privacy coin protocol. This protocol later became the foundation for Monero, Zano, and various other privacy-focused cryptocurrencies. Zarcanum In March 2024, Zano implemented the Zarcanum hard fork at block height 2,555,000, marking a pivotal moment in the history of the project. Introducing Confidential Assets that enable the creation of privacy tokens on the Zano blockchain, transitioned Zano from a single-asset blockchain to a multi-asset decentralized ecosystem. Another groundbreaking feature of the Zarcanum hard fork is the introduction of the world's first Proof-of-Stake (PoS) consensus mechanism with hidden amounts. This ensures that the exact number of coins being staked remains concealed. Consensus Zano's hybrid consensus mechanism combines Proof of Work (PoW) and Proof of Stake (PoS) for optimal security and decentralization. PoW ensures network integrity by leveraging CPU’s, while PoS reduces energy consumption and promotes efficiency. This approach mitigates risks like the "Nothing at Stake" problem, making attacks more costly and the blockchain more resilient. Privacy Untraceable transactions are achieved through d/v-CLSAG Ring Signatures and Stealth Addresses, which obfuscate the sender and receiver addresses, making it impossible to link transactions between specific users. Currently, Zano operates on 16 rings. The way transaction data is stored on the blockchain only allows access by parties who authorized the transactions; none of the private data is ever publicly published. Bulletproofs+ technology allows for the concealment of the amount of coins transferred. A secure scheme with a set of proofs is used for this, enabling the creation of both performance-effective and size-effective proofs. These ensure that the sum and type of the inputs match the sum and type of the outputs, without revealing the amounts of coins in the transaction. Confidential Assets Anyone can easily create Confidential Assets on the Zano blockchain. These assets adopt the same privacy features as native Zano. This technology can be used to create privacy-stablecoins, shielded versions of existing assets, and much more without the overhead of having to create, manage, and secure your own blockchain. Use Cases The use cases for Zano and the broader Zano ecosystem are vast. You can: Mine Zano, stake Zano (anonymously), transact privately, create aliases, create confidential assets, trade ZANO and the confidential assets on ZanoTrade, create dApps, and create marketplaces.