The blockchain development company Zeppelin announced the "ZEP Token Private Beta" for ZeppelinOS, a network incentivised to build and maintain secure smart contracts.
Founded 2015, Zeppelin has been conducting security audits and developed several security standards in the blockchain space. According to the team, networks with a value of over $4.5 billion have been built using Zeppelin's product offerings.
The team have audited several major blockchain projects including predictive markets Augur, storage solution Storj, attention economy browser Brave and distributed computation network Golem to name a few.
In addition to their security services, Zeppelin launched OpenZeppelin, a framework to build smart contracts on Ethereum.
ZeppelinOS: smart contracts simplified
Running sustainable software on top of blockchain has been a major challenge for developers. ZeppelinOS provides a development environment for multiple Ethereum Vitual Machine (EVM) packages powered by community-reviewed standards.
With Zeppelin's operative system, blockchain developers can use packages deployed and maintained by a community of technologists. These pieces of software are updated by a pool of developers incentivised - by earning ZEP tokens - to contribute to the network.
The Token Private Beta kickstarts these economic incentives by gathering multiple high-profile projects under one umbrella, including Decentraland, district0x, gnosis and Dharma to name a few.
The objective of the beta is to "foster the development of EVM packages" by talented and experienced developers before opening it up to a wider audience in 2019.
As such, Zeppelin announced they have limited the spots to the beta to "successfully respond to feedback and test ZEP token mechanics in a controlled environment".
ZeppelinOS's native token, ZEP, allows holders to vouch for pieces of software and facilitates interoperability of smart contracts in a decentralised governance system.
For instance, developers can vouch ZEP when they publish a new package to the network or contribute code to an existing project. On the other hand, ZEP tokens are also used to challenge packages, report dishonest behaviour and identify bugs in an application.
The asset is at the epicentre of the EVM package review system, but also holds other functionalities. ZEP will be used in a marketplace as a form of payment and facilitate the trade of storage, computation or oracle provision between users. Further to that, the development team stated in their whitepaper that ZEP holders will control the system governance.