Zion, the Category Defining Web5 Social Network, Releases v2 App with Updated White Paper and Announces $6M in Funding

‍With 60,000+ Person Waitlist, Valuation Reaches $53M, Backed by Industry Heavy Hitters and High Profile Angel Investors

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Miami, FL February 14, 2023 9:00 AM EST – Zion, the Web5 social network that empowers creators by facilitating the free and open flow of conversations and transactions, today announced a major overhaul of its protocol launching v2 of it’s app and the accompanying white paper. 

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This follows a new capital injection of $6M led by XBTO Humla Ventures, and other notable investors such as Kingsway Capital, Bitcoiner Ventures, UTXO Management, Tony Robbins, Aaron Rodgers, Aubrey Marcus, Mark Moss, Cory Klippsten, Robert Breedlove, Shawn Stevenson, Dan Held, Griffin Johnson, Anthony Pompliano and Donald Park

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Until now, traditional social media companies were required to combine the root of digital identity and payments with accounts from centralized services because the technology required to empower users with self sovereignty did not exist. As a result, we’ve seen large-scale censorship of speech and a ceaseless array of data breaches, globally.

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Zion v2 fixes that by using Web5 standards combined with the Bitcoin Lightning Network to produce a network of decentralized identities, communities, and social content. This replaces centralized services with an interoperable universal standard for social data exchange. With Zion v2, creators and fans can own their own identity online and creators can own their communities - true peer-to-peer to relationships. 

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Unique features include: 

• Decentralized Identifiers: A globally unique persistent identifier that does not require a centralized registration authority and is registered cryptographically. (Learn more about DIDs)

• Decentralized Web Nodes: Data storage and message relay nodes that serve as the foundation for decentralized apps and protocols. (Learn more about Dec. Web Nodes)

• Bitcoin Lightning Wallet : a peer-to-peer payment network that leverages payment channels anchored on the Bitcoin blockchain to enable almost instantaneous transaction settlement between participants with almost no cost. (Learn more about Lightening)

With a  60,000+ person waitlist,  Zion has already served over 3,000+ creators and processed over 120,000+ transactions between creators and fans using the Lightning Network. 

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“The complexities of what we’re trying to build stem from the difficulty around ensuring the sovereignty of your data whilst also being able to transact easily, using the Bitcoin lightning network” said Justin Rezvani, Founder and CEO, Zion. “Our business model is not predicated on manipulating your attention and making you the product. Our business model is based on giving you a product that you can use to build your audience, that you can own and monetize, with this technology we hope that Zion will be the last platform you ever have to build an audience on. That is digital sovereignty on an open source standard, and I think it’s the fundamental difference between us and any other companies in the space.”

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“The team at Zion combines a deep understanding of creator communities and scalable peer-based content technology,” says Greg Carson, Managing Partner, XBTO Humla Ventures. “They mix this inside knowledge with a natively integrated Lightning payments network, which makes Zion a unique and exciting investment for the ecosystem."

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Download v2 of Zion on Apple or Google today and join us.

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For more information about Zion:

Schedule interviews - Press@Zion.fyi

Read the Whitepaper - https://docs.zion.fyi/

Visit our site -  https://www.zion.fyi/ 

Read our Product Guide

Twitter - https://twitter.com/get_zion

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