Horizen is an interoperable blockchain system, supported by a decentralized node infrastructure.
What is Horizen?
- Horizen launched in May of 2017 and strives to ensure data integrity and privacy through enabling real-world use cases. Horizen claims to be completely decentralized, fully customizable with privacy features and supports low costs associated with building blockchains with configurable revenue models and unlimited number of tokens and digital assets.
- Horizen uses a sidechain architecture that can open up a myriad of potential real-world use cases. This cross-chain transfer protocol allows for decentralized sidechains. These are separate blockchains that are pegged to the parent blockchain that can run simultaneously.
- ZEN is the native cryptocurrency for the Horizen ecosystem. ZEN uses the Equihash consensus algorithm. As such, Horizen can support ASIC mining.
- ZEN uses secure nodes, which are crucial to the Horizen network. Secure nodes serve a unique purpose, and they have a TLS encryption that can enable secure inter-node communication.
|Token Type/Protocol||Zcash, Zclassic|
|Total Token Supply||21,000,000 ZEN|
|Current Circulating Supply||See Coinmarketcap|
|Market Capitalisation||See Coinmarketcap|
|Token Creation Date||May 2017|
|Can it be mined?||Yes|
Who is behind Horizen?
The founders of Horizen are Robert Viglione and Rolf Versluis. Robert Viglione is the co-founder and CEO of Horizen Labs, as well as the co-founder and president of the Zen Blockchain Foundation. He is a PhD Candidate of Finance in the University of South Carolina and worked as an operations research analyst at Lanmark Technology. He also worked as an advanced analyst at Tecolote Research and as a project manager at the United States Air Force.
Rolf Versluis is the co-founder and executive advisor of Zen Blockchain Foundation. He is an experienced business owner in the IT industry and owns a mid-size mining operation. In the past, Rolf worked at Cisco systems, the semiconductor industry, and as a nuclear trained officer in the US Submarine force.
What is the purpose of Horizen?
The goal is to decentralize the decision-making processes for resource allocation and other substantive changes to the system.
This is a key element of transparent, collaborative, and stable governance. Bringing other organizations into the ecosystem, extending decision-making authority to collaborative processes, like ZenIPs, and ultimately implementing a democratic system where every ZEN holder is a voter.
Horizen includes four main tools – ZenPub, ZenChat, ZenHide, and ZEN (ZenCash). Each is privacy focused and encrypted through secure nodes.
- ZenCash – The original aim of Zcash was to be an anonymous financial tool, and that tool is still available in Horizen. It has simply been expanded upon to provide a full suite of options for enterprise users.
- ZenPub – Publishing documents can be a risky (and often difficult) business in many countries. Even in the U.S., where freedom of press is among the first Constitutionally guaranteed rights, journalists can be silenced. ZenPub uses anonymized addresses to publish documents to IPFS to ensure an open and free press is always maintained.
- ZenChat – Our communications are constantly monitored, and ZenChat uses AES-256 encryption for transaction of end-to-end encrypted messages.
- ZenHide – Countries like China setup firewalls that can block processing to essentially disable a cryptocurrency within its geographic borders. ZenHide uses proxy-like technology to pass data through HTTPS to bypass such restrictions.
- For miners: ZEN uses proof of work (PoW) systems which is a waste of energy, bad for the environment. As computers perform extra computational work, additional electricity is used. This can add up to an extremely large amount of excess electricity consumption.
- The second major drawback to Proof of Work blockchains is about security. Proof of Work blockchains provide adequate security only if there is a large network of miners competing for block rewards. If the network is small, the possibility remains that a hacker could gain a simple majority of the network’s computational power and stage what is known as a 51% attack.
News and Updates
- On 16 March 2021, Horizen announced its partnership with DIA (Decentralised Information Asset), an open-source data and oracle platform. This partnership will extend the functionality of DIA’s oracle capabilities and bring data feeds to Horizen’s side chains and Zendoo, its decentralized and customizable sidechain protocol.
- On 30 June 2021, ZEN was listed on the Bitcoin.com exchange. Bitcoin.com is a cryptocurrency exchange platform that aims to make cryptocurrency trading accessible to everyone, anywhere in the world. Its products make cryptocurrencies more accessible.
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