ZenCash (ZEN) has announced that it will reveal its new brand on August 22nd, introducing a new logo, name, and project-wide look. This decision was based on “comprehensive research that lasted three months,” during which time the team reached out to the market and the community. Although nobody knows what ZenCash’s new name will be, it seems likely that it will be entirely different.
“The process of finding our new brand goes much deeper than just changing our logo and name,” reads an excerpt from today’s announcement. “It is a process of managing what people see and feel when they look at our outreach effort and when they think of our project.”
Originally, ZenCash began as a fork of Zclassic, a coin that uses zero-knowledge proofs (or ZK-snarks) to implement privacy features. However, ZenCash has since branched out: the entire range of the project includes more than just ZenCash. It is an entire series of tools, as one user explains on Reddit:
“‘Cash’ is just one aspect … ZenSys (Zen System) is the real root name and all the potential suffixes (pub,cash,hide,chat,grid etc.) are the branches of the system.”
Why the ZenCash Rebrand?
Users have been discussing (and speculating on) a rebrand for some time now. The most basic issue is that ZenCash is easily confused with Zcash and the countless forks of Zcash that begin with ‘Z’.
One possibility is that the project will simply shorten its name to Zen. Although many users like the name ‘Zen’, they also outline issues with that name. Dropping the word ‘cash’ and using ‘Zen’ alone is a poor choice for search engine optimization, as it is not specific to crypto and would turn up results relating to Zen Buddhism.
Suggested Reading : Learn more about Zcash in our ‘What is Zcash?‘ beginner’s guide.
Other community members simply say it is too late for a name change. However, many cryptocurrencies have rebranded themselves under radically different names and have performed well afterwards. For example, Antshares became NEO, Raiblocks became Nano, and DogecoinDark became Verge.
In many ways, rebranding is a double-edged sword: it can turn off long-time investors, but can also attract new users. ZenCash is currently resting around 75 on the top-ranked cryptocurrencies, which gives it plenty of room to make a new name for itself.
Unhashed.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
