$CHAIN FAQ
Get answers to common questions about this native cryptocurrency of the Zentachain network, and join the community building the future of decentralized AI telecom and IoT.
What is CHAIN?
CHAIN is the native cryptocurrency of the Zentachain network. It is an ERC-20 token on the Ethereum blockchain that serves as the primary means of exchange and transaction within the Zentachain ecosystem. As a decentralized cryptocurrency, CHAIN can be bought, sold, and traded on cryptocurrency exchanges, and can be stored in compatible wallets. CHAIN has a variety of use cases within the Zentachain network, including paying transaction fees, staking and participating with Zentanode, community governance, and rewards and incentives. By using CHAIN in these ways, users can help support the network, earn rewards, and potentially increase the value of their holdings.
What is CHAIN used for?
CHAIN is the native token of the Zentachain network and has a variety of use cases within the ecosystem. Some examples of how CHAIN can be used within the Zentachain network include:
Paying transaction fees: CHAIN can be used to pay transaction fees on the Zentachain network, such as fees for sending messages or making payments through Zentalk.
Staking and participating with Zentanode: CHAIN can be staked to earn rewards and participate in securing the Zentachain network through Zentanode devices.
Community governance: CHAIN holders may be able to participate in the governance of the Zentachain network by voting on proposals and decisions related to the network's development.
Rewards and incentives: CHAIN can be used as a reward or incentive for users who contribute to the development and growth of the Zentachain network.
How does CHAIN compare to other cryptocurrencies?
CHAIN is a decentralized AI telecom and IoT network that offers a unique set of products and services compared to other cryptocurrencies. While other cryptocurrencies may have different structures, uses, and features, CHAIN's focus on AI, telecom, and IoT applications sets it apart from many other blockchain networks.
One key advantage of CHAIN is its ability to provide a platform for these types of technologies, offering unique capabilities and solutions that are not available on other blockchain networks. Additionally, CHAIN's products, such as Zentamesh, Zentanode, and Zentalk, offer additional functionality and services that may differentiate it from other cryptocurrencies.
How can I store CHAIN?
To store CHAIN, you will need a wallet that is compatible with ERC20 tokens. This can be a hardware wallet, software wallet, or online wallet. It's important to carefully research and compare different wallet options to find one that is secure, easy to use, and meets your needs.
Hardware wallets, such as Ledger and Trezor, are often considered the most secure option for storing cryptocurrency, as they store your private keys offline and away from potential hackers. Software wallets, such as MyEtherWallet and MetaMask, are another option and can be used on a desktop or mobile device. Online wallets, such as Coinbase and Binance, are also available, but may carry more risk due to their online nature.
Once you have chosen a wallet, you can transfer your CHAIN to it by following the instructions provided by the wallet provider. It's important to keep your private keys secure and to back up your wallet in case of loss or theft.
By taking the time to choose a secure and reliable wallet and properly storing your CHAIN, you can help protect your investment and ensure that your tokens are easily accessible when you need them.
Can CHAIN be converted into other currencies?
Yes, CHAIN can typically be converted into other currencies once it is listed on a cryptocurrency exchange. When a token is listed on an exchange, it will usually have one or more trade pairs with other currencies, such as Bitcoin or Ethereum. This means that you can buy CHAIN using one of these other currencies, or sell CHAIN in exchange for one of them.
How is the value of CHAIN determined?
The value of CHAIN is determined by supply and demand in the market. Like other assets, the price of CHAIN can go up or down depending on how many people are buying and selling it, and how much they are willing to pay.
Factors that can influence the demand for CHAIN and its price include news and events related to the Zentachain network, the perceived utility and value of CHAIN, and market conditions more broadly. For example, positive news about the development of the Zentachain network or the adoption of Zentalk could increase demand for CHAIN, driving up its price. Conversely, negative news or market conditions could lead to a decrease in demand for CHAIN and a corresponding drop in its price.
It's important to keep in mind that cryptocurrency prices can be volatile and unpredictable. We recommend staying informed about market trends and carefully considering your investment decisions before buying or selling CHAIN.
What factors can impact the price of CHAIN?
There are several factors that can affect the price of CHAIN, including:
Staking and Locking Tokens
Staking and locking tokens involve holding onto CHAIN and committing them to the Zentachain network in return for rewards. This can affect the supply of CHAIN available for trade, potentially influencing its price.
Zentanode Network
The operation and performance of the Zentanode network can impact the value of CHAIN. If the network is successful and widely used, it may increase the demand for CHAIN and drive its price up.
Application Payments for Zentalk
If Zentalk becomes a popular and widely-used application, it may drive up the demand for CHAIN and potentially increase its price.
Buyback and Burn
If the Zentachain buys back and burns a significant number of CHAIN tokens, it can reduce the overall supply of CHAIN on the market, potentially increasing its price.
What fees are associated with using CHAIN?
As an ERC20 token, CHAIN may be subject to fees when it is used for transactions on the Ethereum network. These fees, known as gas fees, are paid in Ethereum and are required to process transactions on the Ethereum network.
How can I earn interest on my CHAIN holdings?
Yes, it is possible to earn interest on your CHAIN holdings by participating in the Zentachain network.
Staking
Staking involves holding onto your CHAIN and committing it to the Zentachain network in return for rewards. The amount of interest you can earn through staking will depend on the staking options available and the annual percentage rate (APR) offered. For example, you may be able to earn an APR of 12%, 16%, or 20% by staking your CHAIN.
Zentanode
The Zentanode is a mining device that offers fixed rewards of CHAIN every month. By participating with a Zentanode device and supporting the Zentamesh network, you can earn 25 CHAIN in fixed rewards each month.
Is CHAIN mineable?
No, CHAIN is not mineable. Unlike some other cryptocurrencies that use a proof-of-work (PoW) consensus algorithm and require mining to create new coins, CHAIN uses a proof-of-stake (PoS) consensus algorithm. This means that new coins are created and distributed through staking and Zentanode participation, rather than through mining.
How can I buy CHAIN?
CHAIN can be bought and traded on cryptocurrency exchanges that list it. You can typically buy CHAIN using other cryptocurrencies, such as Bitcoin or Ethereum, or using fiat currency, such as USD or EUR.
A list of exchanges that currently list CHAIN can be found at the following link:
It's important to note that the availability of CHAIN on different exchanges can vary and that the price of CHAIN may also fluctuate based on market conditions and demand.
What is the smart contract address of CHAIN?
The smart contract address of CHAIN is 0xc91f1EFFDdC4a727F4DE78E400137390779ec062 This is the address used on the Ethereum blockchain for the CHAIN ERC20 token. You can view more information about the token and its contract, including its transaction history and holders, on Etherscan at https://etherscan.io/token/0xc91f1effddc4a727f4de78e400137390779ec062. It's important to note that this address is subject to change if and when CHAIN launches on its own Main-net, known as Zentanetworks.
When will Zentachain's native token CHAIN be migrated to the mainnet?
Zentachain is currently based on Ethereum, but we are actively developing our own Main-net known as Zentanetworks. This Main-net will be a forkless Proof of Stake (PoS) consensus for communication.
We are committed to ensuring that the migration of CHAIN to the Zentanetworks Main-net is a smooth and seamless process for our users. Our team is currently working on finalizing the development of the Main-net, and we will announce the migration date as soon as it is ready.
Stay tuned for more updates on the migration of CHAIN to the Zentanetworks Main-net!
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