The innovative nature of a cryptocurrency can play a decisive role in its success and sustainability in the market. In particular, thanks to a high level of data encryption, which guarantees almost infallible anonymity, the Horizen network obtains an excellent score in this area. The cryptocurrency associated with it, Horizen crypto (ZEN), enjoys the popularity stemming from this highly sought-after feature, and the other original features of the network.
We have written this review of Horizen (ZEN) for you, covering these features. But we will also discuss the history of Horizen crypto, as well as the price of Horizen, the opportunity to invest in it or not, etc.
The Horizen network refers to an ecosystem of several blockchains. This ecosystem aims to offer a decentralized platform that can enable the development of decentralized applications and is characterized by a high level of security and scalability. To offer such an environment, the network relies on a proprietary protocol, called Zendoo. The latter makes it possible to design sidechains (lateral chains) with their own operating principles (speed, consensus, privacy, etc.). The main blockchain then checks the reliability of the sidechains, and offers them a complete operating channel. This results in unmatched interoperability and scalability. How are the needs for computing power and access to the Horizen ecosystem rewarded? With Horizen crypto (ZEN)!
Coinbase
Coinbase
Horizen crypto (ZEN) therefore refers to the native cryptocurrency of Horizen, the blockchain capable of powering other chains. Transactions related to ZEN crypto, but also to other projects deployed on Horizen, can benefit from the zero-knowledge anonymization technology. This technology uses a zero-knowledge proof, through which transactions can be validated without disclosing the associated information (sending/receiving addresses, amount, etc.).
Horizen crypto (ZEN) was born in 2017, under the name ZenCash. Appearing as an upgrade to ZClassic (a fork of Zcash), its objective was to offer a privacy-focused crypto trading space for users and a certain autonomy for developers. The history of Horizen (ZEN) therefore begins with that of ZenCash, whose innovative node system quickly attracted crypto enthusiasts.
The ZenCash network faced a 51% attack. 51% attacks are computer hacking techniques that take control of the majority of a network’s computing power (50% + 1%). On a crypto ecosystem, such an operation allows hackers to change the contents of transactions. Depending on the context, they can also block the validation processes of blocks. While between $550,000 and $700,000 in ZEN crypto was lost, Horizen founders, Rob Viglione and Rolf Versluis, quickly initiated a fork. An improvement to the consensus protocol and the signing of a contract with a digital company capable of protecting against 51% attacks, making the network more secure and efficient, led to the birth of Horizen (ZEN).
This name change aimed to better align with the ambitions of the network. But it also coincided with the transition to a more ambitious operation: offering an environment of interoperable blockchains and facilitating the creation of decentralized applications by dApps.
The new form taken by Zencach, by becoming Horizen crypto (ZEN), reflects most of the objectives that the creators of this innovative ecosystem had set for themselves. In the world of cryptocurrencies (see rates), several characteristics make it possible to recognize a secure and reliable environment or ecosystem. During the overhaul of the previous version of ZEN crypto, they aimed to set up a secure system offering many possibilities. They obtained such a system through the Horizen network.
Among other things, the Horizen value lies in its ability to meet the increasingly pressing need to protect personal data. By integrating several protection mechanisms, the platform powered by ZEN crypto can completely anonymize transactions. It is also able to offer users a certain control over their information. The creation of the Horizen network, and the resulting Horizen crypto (ZEN), also aims at a goal of decentralization. In its operation, the Horizen network relies in particular on autonomous nodes. This principle was established with the aim of providing services accessible to all.
Finally, while many crypto-currency networks and platforms seem to be able to suffer the effects of capacity limitations, Horizen finds the perfect counterpoint to this difficulty. Sidechains exist and are deployed in parallel to the main network. The latter thus acquires an almost unlimited capacity and higher performance to host a multitude of dApps, adapt to the increasing volume of transactions, etc.
Alvexo
Alvexo
Investing in CFDs involves significant risks.
The various operating mechanisms of the Horizen network and Horizen crypto (ZEN) all contribute to the network’s goals of freedom and privacy. These mechanisms are implemented both at the node level and at the algorithm level underlying each operation.
To optimize its performance, the Horizen network uses a consensus system combining Proof of Work (PoW) and Proof of Stake (PoS), and depending on several types of nodes. This combination promotes optimization of network security and scalability. For the implementation of the proof of work consensus, Horizen uses an algorithm based on Equihash. This algorithm enhances infrastructure protection and contributes to the decentralization of Horizen mining.
On the proof of stake side, one of the specifics lies in the delayed block penalty mechanism. This mechanism aims to penalize blocks whose production is too fast or too slow, compared to the average block generation time. Despite the freedom to operate sidechains via the Zendoo protocol, any malicious acts against the network (spontaneous creation of forks, complete reorganization, etc.) will then be thwarted.
For its part, zk-SNARKs technology is used for anonymization and privacy. It is based on a zero-knowledge proof principle. zk-SNARKs are used to confirm transactions without revealing the details.
For transaction execution and validation, Horizen relies on one of the densest node infrastructures in the crypto ecosystem. For the deployment of dApps, transactions related to ZEN crypto or for various other operations, the Horizen Blockchain benefits from the computing power offered by 40,000 nodes distributed around the world. These nodes are divided into 3 categories, according to their roles. Full nodes are used to validate transactions and blocks issued via PoW. Secure nodes act to provide protection against Sybil attacks, route transactions, ensure communication between the different layers of the network, etc. Finally, super nodes contribute to the implementation of PoS, and host the deployment of dApps.
Thanks to the relevance of the platform’s services from which it is derived, Horizen crypto (ZEN) has succeeded in seducing the crypto community. Such a reinforcement of market confidence in a crypto is generally manifested by its listing on many crypto marketplaces and exchange platforms. If the ZEN crypto project attracts you and you would like to invest in Horizen staking, here are 3 platform proposals for buying this crypto.
Accessible via a web interface, a PC software and a mobile application, Binance is undoubtedly one of the major players in the crypto industry. The platform offers numerous trading tools, available for thousands of pairs, including those containing ZEN crypto. The ZEN/USDT, ZEN/ETH and ZEN/BTC pairs are among the crypto pairs you can trade on Binance. Beyond crypto trading, the platform founded by Changpeng Zhao, nicknamed CZ, also allows you to buy and hold Horizen crypto (ZEN). To buy ZEN crypto on Binance with a bank card for example, here are the main steps to follow:
Binance
Binance
OKX is a particularly technical platform. Aimed at more experienced users, it integrates high-level tools for buying Horizen (ZEN) or any other crypto, and for trading a multitude of pairs. OKX also stands out for its easy connection with wallets, including its own OKX wallet, but also Trust Wallet. OKX thus provides a secure space through which you can buy your ZEN tokens and store them in a wallet.
Even if it offers fewer trading pairs than the previous two platforms, the smooth functioning of Deepcoin is a key argument that allows it to deserve its place in this ranking. Via the ZEN/USDT pair, you can buy Horizen crypto (ZEN) on Deepcoin. Having met the requirements of various regulatory authorities in particular, the platform offers you a secure space for your investment in ZEN crypto.
Now: 40 Fear
Now: 40 Fear
Yesterday: 39 Fear
Last Week: 43 Fear
Horizen crypto (ZEN) comes from the platform of the same name, which allows the creation of sidechains running in parallel to the main network. In addition to this functionality, the flexibility and privacy offered by the Horizen staking network make it very innovative. However, this aspect alone is not enough to give an accurate Horizen prediction or answer questions like “will Horizen go up?” or “will Horizen recover?”
Bitfinex
Bitfinex
Looking at previous data, we can see that the Horizen stock price started its race in the crypto universe in June 2017 with a value of $11.3 (coinmarketcap.com). After an all-time high of $145.8 on May 8, 2021, ZEN has gradually returned to this initial rate. In early May 2023, 1 ZEN is worth about $10. It is interesting to note that Horizen crypto (ZEN), although it has fallen a lot since its ATH, has not collapsed below its launch value. This event materializes a certain resistance of this cryptocurrency to market turmoil. It also indicates that it is a cryptocurrency that has the confidence of investors. For you too, an investment in Horizen could therefore be opportune.
If you make sure to do your own analysis to get a personal Horizen forecast and only commit an amount you can afford to lose, investing in Horizen crypto (ZEN) would not be a bad choice. Since the Horizen price USD is currently around its lows, there is a chance it will rise again in the coming years. Hard to say if the ATH will be reached again, but profits can still be considered.
Is Horizen crypto (ZEN) a reliable crypto? A priori, yes. It powers a network whose innovative operation induces undisputed utility. The Horizen Blockchain has pushed decentralization, which cryptocurrencies want to contribute to, a little further by offering the possibility of designing third blockchains around the same central network. It also provides tools to optimize security and privacy. In view of these elements, ZEN crypto can undoubtedly inspire confidence. However, for it to remain in the crypto market for a long time, this confidence must manifest itself at the level of most market players.
The cryptocurrency market, at the whim of speculation, the actions of huge whales, or government regulations, fluctuates a lot without any possibility of establishing Horizen future movements. So, Horizen crypto is trustworthy and would certainly deserve even more attention than it already has. Nevertheless, as with all cryptos, caution must remain the order of the day.
