Horizen

What is the token?

• Horizen (ZEN) is a privacy-focused blockchain platform that evolved from ZCash, utilising zk-SNARKs technology for secure and private transactions.

• Designed for privacy, interoperability, and scalability, ZEN is the native cryptocurrency for various ecosystem utilities and governance.

Tokenomics

• Horizen has a fixed total supply of 21 million ZEN tokens.

• Features a 2.5-minute block interval with an initial block reward of 12.5 ZEN, subject to periodic halving.

Market Data

As of today 22 December 2024, the price of Horizen is ₹2,708.39 INR, with a 24-hour trading volume of 295127558.39 USD. The market capitalization for Horizen is 459105473.91USD. The circulating supply is 15767975 Horizen, with the total supply also being 15767975 Horizen.

Token Pros and Cons

Pros:

• Utilises zk-SNARKs for strong privacy features.

• Employs a multi-tiered node system for enhanced network security.

• Offers scalability and interoperability through its sidechain technology.

Cons:

• The mining process is energy-intensive.

• Faces price volatility common to cryptocurrencies.

• Historical concerns regarding the security of the Zerocash protocol.

Why Should You Invest in ZEN?

• Horizen’s advanced privacy features, strong technological foundation, and potential for growth in blockchain acceptance make it appealing.

• The multi-tiered node system offers passive income opportunities.

USP of the Coin

• Horizen distinguishes itself with privacy and data integrity via zk-SNARKs, a robust node system, and sidechain technology for superior scalability and interoperability.

Problem the Coin is Solving

• Horizen addresses privacy, scalability, and interoperability challenges in blockchain, offering a secure platform for transactions, communications, and dApps.

Founder and Team Background

• Co-founded by Robert Viglione and Rolf Versluis, the team brings deep expertise in blockchain technology, cryptography, and business development.

ICO Price

• Horizen did not have an ICO, being a fork of ZClassic, which was a fork of ZCash, instead funding growth through a portion of miner rewards.

Risks Associated in Investing in the Coin

• Investing in ZEN involves risks like price volatility, regulatory shifts, technological vulnerabilities, and market competition, necessitating thorough research before investment.

Whitepaper Insights

The Horizen whitepaper outlines a blockchain platform designed for fully customisable, decentralised applications. The Horizen ecosystem consists of the main Horizen blockchain, the ZEN token, and sidechains that are fully generalisable in consensus and design characteristics. The platform’s core protocol acts as a “truth engine,” ensuring the integrity of transactions and data.

Horizen’s ecosystem includes various stakeholders such as the Zen Blockchain Foundation (ZBF), the Horizen Community Council (HCC), developers, miners, node operators, and end-users. The ecosystem is supported by the Horizen Developer Environment (HDE), Horizen Academy, and partnerships with corporate and academic entities.

The ZEN token serves as the underlying collateral for synthetic price-pegged assets like zUSD, zEUR, and zPeso. Horizen also adopts a Horizen Improvement Proposal System (ZenIP) to standardise the process of suggesting major changes to the Horizen platform.

The whitepaper emphasises Horizen’s commitment to privacy, with the platform built from a community with a strong ethos of privacy being a fundamental human right. Horizen’s sidechain implementation allows for the creation of decentralised applications (dApps) that can operate with their own rules and governance structures while still benefiting from the security and infrastructure of the main Horizen blockchain.

Horizen’s block reward structure is designed to incentivise miners and node operators, with rewards being the sum of subsidies plus transaction fees. The platform also includes a treasury system to fund ongoing development and community initiatives.

The whitepaper discusses the technical aspects of Horizen’s sidechain technology, Zendoo, which enables the creation of scalable and interoperable blockchain networks. Zendoo is designed to be flexible, allowing developers to create sidechains with various consensus mechanisms and privacy features.

Horizen’s vision is to create an inclusive ecosystem where anyone can build privacy-oriented applications and services. The platform aims to provide the tools and infrastructure necessary for developers to create solutions that protect user data and ensure transactional privacy.

Overall, the Horizen whitepaper presents a comprehensive vision for a decentralised, privacy-focused blockchain platform that empowers users and developers to create a wide range of applications and services with strong security and privacy features.