ZenCrypt -- PHP Encoder

Last night, I was searching the internet for PHP Encoders, I always knew that ZendGuard and IONCUBE are the best. However, I thought of giving others a chance. While searching I came across ZenCrypt. One of the good things about it that it doesn't need a loader on the server-side. Thus, the scripts are self-decodable. But this makes it easy to decrypt. On thier website, they have two scripts. One is the source, and the other is the encoded script.

My Attempt to understand its way of encoding to see if it worth the USD45.

Source PHP Code:

Encoded Code:

My Attempt to Decode the Code:

Conclusion:

What I see that it doesn't worth the the USD45. Maybe if it was encoded with ZendGuard or ionCube and produces a file that requires a PHP Loader. Just like PHPCipher. However, from this attempt. I thought that I will write my own encoder. It will be using the same method, however, the output will be encoded in both ZendGuard and ionCube. Stay tuned!