What is Horizen?
Horizen is a blockchain ecosystem that aims to empower and reward contributors through a flexible, scalable, and privacy-focused network. It features a proof-of-work mainchain and sidechains that support both private and public applications. Its infrastructure includes the zk-SNARK protocol for secure, private communications and an ecosystem designed to foster development and decentralization.
Goals of this cryptocurrency
The purpose of Horizen is to create a decentralized, secure, and scalable blockchain platform that enables the development of privacy-preserving applications, decentralized services, and custom blockchains. It aims to solve issues related to scalability, security, and privacy in blockchain technology. The platform supports real-world use cases including private communications, secure transactions, and customized blockchain deployment for businesses and developers.
Fundamental economics of Horizen
The total supply of Horizen tokens (21000000 ZEN) is capped at 21 million coins. The project emphasizes responsible privacy with optional privacy features, including shielded addresses. Tokens are distributed through mining rewards, with 60% allocated to miners, and other portions to treasury funds, supernode operators, and secure node operators.
The technology behind Horizen
Horizen's technology operates on a mainchain implemented with proof-of-work, similar to Bitcoin, while the sidechains utilize proof-of-stake consensus mechanisms. Its Zendoo platform enables the creation of customizable and decoupled sidechains that can communicate with the mainchain. The use of zk-SNARKs enhances withdrawal validation and privacy features, making the platform highly secure and adaptable for different blockchain applications.
Horizen compared to its competitors
Horizen differentiates itself through its robust sidechain ecosystem, Zendoo, which allows the creation of customizable, independent blockchains. It offers enhanced privacy features with zk-SNARKs and a high node count infrastructure, providing increased security and scalability. Its focus on responsible privacy and its developer-friendly SDK give it a competitive edge in enabling private, scalable blockchain solutions compared to other projects that may lack similar flexibility and privacy options.
Horizen price history
Frequently asked questions
You can earn Horizen (ZEN) by running a node, engaging in mining activities, or participating in community programs such as the Horizen Faucet. Additionally, you can purchase ZEN on various exchanges and store them in official or third-party wallets.
Horizen incorporates zero-knowledge proof protocols (zk-SNARKs) which allow users to control their digital footprint, opting for either transparent or private transactions. Its responsible privacy approach ensures data encryption and confidentiality, supporting anonymous transactions while maintaining security.
Horizen is primarily used for building decentralized applications, secure and private communication via Sphere by Horizen, and creating custom blockchains through its sidechain platform. It supports real-world applications like private messaging, digital payments, and scalable blockchain deployment for businesses.
Zendoo is Horizen's sidechain platform that enables developers to deploy purpose-built blockchains that are independent yet able to communicate with the mainchain. It supports any programming language and consensus mechanism, providing freedom and scalability for various blockchain applications.
Horizen's key differentiator is its advanced sidechain ecosystem, which allows for customizable, decoupled blockchains with privacy features enabled by zk-SNARKs. Its extensive node infrastructure, emphasis on responsible privacy, and developer-friendly SDKs provide advantages over competitors.
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