Horizen is a security and privacy-focused blockchain network. Their primary aim is to make the transactions between parties secured and private.
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What is Horizen (Zen) ?
Cryptocurrency uses blockchain technology which is based on the premise that all the transactions should be public with its data needed to be spread over all the networks that are participating.
Zero-knowledge proof is a tool that enables a person to sign and validate the transaction without making them reveal their details thus ensuring maximum privacy of the users.
This tool makes the Horizen’s transaction unbreakable and untraceable. They believe the privacy between persons, transacting should be maintained.
They are mainly aiming for making a decentralized system where users can message, publish and make decentralized apps, and maintain their privacy.
Who is the founder of Horizen (Zen)?
Robert Viglione and Rolf Versluis are the co-founders who in the year 2017 launched Zencash.
It was only after when attackers gained control over 51℅ softworks in Zencash they rebranded themselves and came up with horizen with tight security and privacy assured policies.
What makes Horizen (ZEN) unique?
After going through a great deal through zen cash, horizen had come back stronger. Their team is now aiming to develop side chains.
The side chain technology is a sophisticated innovation that’s been devised to get better of the existing limitations in the ecosystem regarding scalability as well as extensibility.
Horizen main chain has a scalable capacity of 30000 nodes. Due to cross transfer, the Zen coins can be transferred from the main chain to side chains and vice versa.
What else is horizen offering?
With cryptocurrency getting into every nook and gaining its importance around the world. It’s hard to enter established markets unless they offer something unique and of value.
Horizen entered the market when bitcoin was at its peak. Ethereum with its creativity offered a package of service to customers. Entering into a market that is already saturated and making a place for itself hasn’t been a smooth journey to the Horizen
Horizen works with different nodes. It is called a multi-tiered system where regular nodes are just similar to the ones that other cryptocurrencies use. They store all the blockchain data and process them.
Then comes the high secure nodes that have established one of the most resilient, distributed, powering the ecosystem of the Horizen all while offering enhanced privacy to an end-to-end blockchain network.
The secure node network that is integral to Horizen ensures Secure, private communication between nodes maintaining utmost integrity at the communication level.
The secure nodes are highly encrypted which helps secure the transaction between two parties. It prevents any other person from being able to see the transactions are taking place there.
Then there is a super-secure node that is used by horizen itself for their side chains. Owning to all these different layers horizen has managed to maintain 40000 nodes leaving bitcoin and ethereum behind.
Horizen has managed to be among the top crypto-based platforms in a short period due to its security and privacy-based vision.
How are zen coins generated?
Horizen used both the algorithm such as proof of work and proof of stake. Proof of work enables miners to solve complicated math problems and reward them with coins.
Proof of stake is a system where one user stakes their token to someone else who wants to buy a block for themselves.
One party earns a block for themselves and the other one earns a percentage of rewards for them.
How many Horizen (ZEN) coins?
Currently, there are 11, 574,006 zen coins in supply. The maximum capacity is 21,000,000 zen coins. The cryptocurrency works with the premise that supply does the amount should be limited as it contributes to not make cryptocurrency lose its value.
How to buy zen coins?
Horizen is among the top 100 cryptocurrencies. It is available on many exchanges to be brought from mainly Binance, Huobi global, and OKEx. Users need to have an account on any exchange to be able to transact for horizen coins.
How does Horizen (ZEN) work?
Horizen transaction takes place using Zen cash. Their crypto asset is Zen cash. Mainly transactions are divided as having’ T ‘ address or ‘Z ‘address as their zen addresses.
The addresses are nothing but similar to bitcoin where everyone can see the transaction happening. There is no privacy whatsoever.
Z address uses zero-knowledge proof tools wherein nobody can get access to see what, when and between whom the transaction is taking place.
What has horizen achieved so far?
Horizen despite being launched for almost 5 years now has managed to secure a position in the top 100 cryptocurrencies. The Horizen managed to be listed among 28 new exchanges for trading purposes.
They also developed a community for developers to join. Many developers joined the community and became part of Horizens.
What are Horizens private policies like?
1- Horizen is offering user responsible privacy. It means that the user can choose to which extent they need privacy. They can choose to share information with friends and family. Or they can opt for a public sharing option also. They are becoming popular because of this feature.
2- Horizen believes that users should be properly educated about the importance of privacy. They aim to make people aware of the fact that privacy should hold utmost value to them.
3- To regulate criminal activity won’t get a platform Horizen is encouraging you to avail privacy for your transactions. It will further discourage hackers to not roam around and play with other personal data.
Conclusion
Zencash which is now known as Horizen is a privacy focus ecosystem. If any user wishes to have an investment in privacy and security they can easily opt for the Horizen.
There is a good return on investment. A diversified portfolio is what makes an investor wise here.
Horizen has both side chain as well as main chain functionality which makes the process of transacting zen cash easy and seamless and secure.
