Horizen: An Introduction to the Privacy-Focused Crypto

Horizen is a privacy-focused cryptocurrency and blockchain network that aims to address the scaling and security challenges faced by existing networks like Ethereum. It was initially launched as ZenCash, a hard fork from ZClassic, which itself was a fork of Zcash. Horizen's primary goal is to provide a secure and private platform for smart contracts, decentralized applications (dapps), private messaging, and publishing.

Privacy at its Core

At the heart of the Horizen blockchain is privacy. The network uses zero-knowledge proofs to make its native currency, ZEN, untraceable and anonymous for privacy-conscious users. Additionally, Horizen aims to ensure that all interactions between users remain private, making it a decentralized platform for various privacy-focused applications.

The Genesis and Evolution

Horizen was founded in May 2017 by Robert Viglione and Rolf Versluis as ZenCash. It was later rebranded to Horizen in August 2018. The team has since been actively developing the platform, focusing on sidechain technology. Sidechains allow developers to create scalable applications linked to the main Horizen blockchain while preserving the benefits of its large node infrastructure.

Team Background

The Horizen team is comprised of experienced individuals from diverse backgrounds, including blockchain development, cryptography, finance, and business management. The co-founders, Robert Viglione and Rolf Versluis, bring a wealth of knowledge and expertise to the project, having been involved in the blockchain space for many years.

A Node Powerhouse

One of Horizen's significant achievements is its extensive node network. With over 40,000 active nodes, it surpasses Bitcoin and Ethereum in node count. The node network is multi-tiered, with different nodes playing specific roles. These roles include regular full nodes, secure nodes with encryption, and super nodes hosting Horizen sidechains.

The ZEN Token and Rewards

ZEN is the native cryptocurrency of the Horizen platform. It combines proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. Miners doing PoW and validators performing PoS are rewarded with new ZEN tokens. The distribution of newly minted tokens is split, with miners receiving 60%, secure node operators and super node operators each receiving 10%, and the remaining 20% going to the Horizen DAO Treasury to support ecosystem development.

Privacy-Enhancing Addresses

Horizen offers two types of addresses: T-Addresses and Z-Addresses. T-Addresses work like regular addresses, making transactions public and transparent. On the other hand, Z-Addresses, powered by zero-knowledge cryptography, enable entirely private and anonymous transactions between them.

Current and Upcoming Developments

Horizen has seen continuous development and growth. It has partnered with various projects like Celsius and Sikoba to leverage its privacy technology. Additionally, it has added new exchange listings, expanded its developer community, and launched initiatives like the Horizen Developer Environment (HDE) and the Horizen Early Adopter Program (HEAP).

The Future of Horizen

With the Sidechain (Zendoo) Beta already released, Horizen's next big milestone is the full deployment of the sidechain network on the mainnet. The team is also planning to integrate Directed Acyclic Graph (DAG) technology to further enhance scalability.

Conclusion

Horizen's focus on privacy and its scalable node network make it a significant player in the crypto world. Its ongoing developments and partnerships show its commitment to creating a secure and private ecosystem for blockchain applications.

Horizen Price Analysis

As of November 24 2024 Horizen has a marketcap of $166M. This is {{percentagefromath}} from its all time high of $165.92. In terms of its tokenomics, there's a total supply of 16M with 100% currently outstanding. Keep in mind Horizen has a fully diluted value of $166M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.