The currency is currently being used in an arcade gaming platform known as Zenigames where the rewards are in the form of Zenis.
Zennies from Japanese word Zeni, meaning small change, is a cryptocurrency that uses a decentralized network of computers to validate and ensure a secure value exchange. The coins were first pre-sold in March 2017, making them relatively new cryptocurrencies. They are designed to allow a secured instant transfer of payments. And they are currently ranked 387 out of a total of 987 crypto currencies in the market.
As with other cryptocurrencies, this currency is done peer to peer with no government or agency involvement and has been designed to accommodate more uses apart from the traditional cryptocurrency uses. By creating more fun uses for it, this cryptocurrency can expect a broader user base. The currency is currently being used in an arcade gaming platform known as Zenigames where the rewards are in the form of Zenis. The cryptocurrency is traded at YoBit, C-CEX, Nova Exchange, Coin exchange and crypto Dao exchange platforms.
Since digital currency cannot be printed, its supply is increased through the process of mining. Mining involves the use of special software that requires users to solve a specific problem (winning a game in this case) and the reward is in the form a cryptocurrency, in this case, Zenies. Gamers playing the zeni games get rewarded in Zenis, which they can then use to purchase other games or make in-app purchases. The game is built from ZENI distribution systems which allow other arcades site to fetch Zeni arcade games.
The crypto currency is stored in digital wallets which come in different forms but perform the same function. There are web wallets like coin base and bockchain.info, desktop wallets which are bulky and mobile wallets which are the most popular. The currency is traded on the exchanges and people make money by buying them at low prices and selling at high prices. Currently, however, it seems as if the currency is only useable in the gaming zone as a payment for the game prizes. This cryptocurrency has only been in the market for a few months and its popularity is yet to grow.
As more and more people join the Zenies network, there is increased security and greater incentives which also means that the difficulty of winning the games is high and thus fewer rewards are distributed.As the Zeni game gains momentum, there is the possibility of the distribution system evolving into a very networked game system where the experience can then be traded earn prizes on all the networks of games.As with any new product in the market, the early entrants get an undue advantage and this may be the case with this crypto currency, however, there are over one thousand crypto currencies in the market at the moment and more are expected to come, meaning this could be a bubble waiting to burst and an investor should always conduct due diligence. A major advantage that this crypto currency may have over the existing competitors is the fact that it has adopted new and fun ways of usage, like in the gaming zone and thus there is expected to be a broader user base.