What Is ZEN Coin?
Horizen is an interoperable, zk-Snark based, decentralized node infrastructure with high scalability on data privacy offering the largest node network in the industry. Horizon is a full ecosystem with an ambitious roadmap.
"Zen’s framework is a secure, privacy-oriented infrastructure with a governance system structured to enable participants to collaboratively extend functionality in many dimensions" — Horizen Whitepaper
Horizen is a fork blockchain that was derived from Zclassic in 2017. Accordingly, what is now known as ZEN coin was previously known as ZCL coin before 2017 and then as ZENcash coin until 2018. The names behind the Horizen coin are Rob Viglione and Rolf Verslius.
Since the very first day the developers’ main goal was to create an enhanced-security blockchain so as the enterprise applications would make Horizen their choice. ZEN crypto coin is mined through the Equihash Proof-of-Work (PoW) mining algorithm. As it’s said on the official website, the block rewards are distributed this way:
- 60% goes to miners.
- 20% goes to the Horizen treasury which is a sponsor of the project. The treasury fuels community development, marketing, maintenance, etc. (this is also known as DAO treasury).
- 10% goes to super node operators
- 10% goes to secure node operators
Where Can ZEN Be Used?
Most of the crypto coins including ZEN coin have relatively the same usage range: you can buy goods and pay for services as long as you own even one ZEN token. Still whatever you do with your Horizen crypto it's going to remain unknown, unseen and all the way untracked.
By the way, Horizon took care of your purse as well, you can keep your ZEN tokens in SPHERE - Horizen’s multifunctional wallet app.
The Apogee Of Glory
ZEN crypto coin had no ICO but it was issued with a total supply of 21 million ZEN and as for December 17 circulating supply of 10,5 million ZEN coins.
According to the data from CoinMarketCap the apogee of glory hit Horizen on January 10, 2018. The coin price went up to $67.29 then. However, the all-time low of $3.09 hit on July 31, 2017, the price dropped to its lowest after 2 months from the first issue.
Today ZEN price is 27.9648 USD.
Privacy and security - Horizen works hard to be proved as credible and trustworthy, so the team implemented zk-SNARK proof which stands for elective privacy on the blockchain, and multi-chain block Notarization that makes it hardly possible for Horizen to be attacked.
Sidechain solution - distributed the load on the blockchain to the main chain and many side chains.
ZEN nodes - Secure nodes act as master nodes, they ensure end-to-end encryption which is an addition to privacy on each level. Super nodes, in turn, act as a supporting network for the sidechains.
Community - Horizen has its own network systems for either developers and users. HCC (Horizen Comunity Council) where the users can interact with each other in a convenient and friendly crypto-ambience; HDE (Horizen Developer Environment) which boasts bounties and hackathons.
Horizen Academy - Horizen has its own free and open education center for those interested in blockchain technology. The academy offers 3 levels of difficulty for all learners anywhere anytime.
”Horizen is a platform designed to privatize your communications and your economic and financial activities. Horizen, thanks to advanced cryptographic technologies and a zero knowledge system, allows anonymous peer-to-peer communications. Horizen’s distributed and encrypted network is resistant to traffic and metadata analysis“ — Ann Bitcointalk
Grayscale Investments, As it’s been said, ZEN emerged as a fork blockchain from ZenCash. It happened due to the 51% attack in which hackers took control over the networks and stole tokens. Then the fork decision was made. Rob Viglione, one of the co-founders, was claiming to significantly boost privacy and security of the blockchain, but Horizen was rapidly going down to the black-list on the media. That was when Grayscale, one of the most prominent investment companies in the crypto industry, bet to invest $6.3 million in the Horizen. Michael Sonnenshein, Grayscale’s managing director expressed his faith in Horizen saying:
“We’ve been very impressed with the Horizen team and its vision for ZEN as a leading privacy coin. Grayscale is at the forefront of asset management in this emerging industry, and we will continue to offer our clients access to the most interesting blockchain projects in the world.”
Thereby Grayscale wanted to prove that Horizen had successfully fixed up errors and was a trustworthy blockchain with a developed service. As we see now, the investment wasn’t dumped and the Hrozen project is living up Grayscales expected results.
How To Buy Horizen Coin?
ZEN coin is traded on a vast variety of crypto exchanges and StealthEX is one of them.
StealthEX is a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in ZEN, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to ZEN.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your ZEN coins.