Synthetix Network Token SNX to Zebi ZCO Exchange

Crypto Pair Details: SNX to ZCO

Synthetix Network Token SNX

Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018. Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.” This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.

Zebi ZCO

Zebi is a young and innovative organization founded, mentored and managed by Oxford, MIT, Stanford, and IIT veterans and thought leaders from Silicon Valley with experience in Google, Uber, Amazon, Microsoft, and Oracle. Zebi specializes in providing Blockchain based offerings to governments and enterprises to leverage and protect their high value and sensitive data. India’s big data generation is increasing exponentially and is expected to reach 3 Zebibytes per year (Zebibyte = 1024^7 bytes) by 2020, driven by continued growth of internet usage, social networks, proliferation of smartphones, as well as the digital initiatives and structural reforms undertaken by the government. At the same time, incidents of data crimes such as data hacks, data leaks, data tampering, identity thefts are on the rise, which are costing Indian organizations and consumers more than $30 billion annually. Zebi specializes in providing blockchain based solutions to governments and enterprises to leverage and protect their high value and sensitive data. Zebi is one of the few enterprise grade product companies based in India offering best of the expertise of Silicon Valley at Indian prices Recognizing the need and opportunity to enable with technology the enforcement of data protection regulations, Zebi has created a Blockchain driven, unique and holistic solution to make high value and sensitive data readily available for legitimate use. Zebi safeguards data against hacking and tampering, while obtaining consent from individuals. The solution comprises of Zebi Chain™ to provide immutability to critical records, coupled with a central hub called Zebi Data Gateway which enables secure and instant data exchange through Data-as-a-Service (DaaS) APIs. Zebi’s innovative, proprietary solution set is one of the first in industry and is patent pending.

SOURCE: COINGECKO

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