Now that's something very similar yet very different from Bitcoin and Ethereum. I have been looking for a coin that is worth considering especially from the perspective of its total supply, consensus mechanism and use cases. After a diligent look at the top 500 coins, my mind stayed at number 203 at market cap and it truly deserves your attention.
In today's article we're gonna take a closer look at the potential of Horizen (ZEN) 'The Zero-Knowledge Enabled Network'. We shall also discuss if this coin deserves a place in your portfolio or not. So let's start from the scratch...
You might have already known a few coins that are characterised with a privacy tag like Dash or Monero. After the inception of Bitcoin and a few other Blockchains there was a time in Blockchain history when we saw a sudden rise of 'privacy coins'. Personally I don't see privacy as a true use case of Blockchains yet there are cryptogeeks who want it to be at the core of any blockchain. However Among all the privacy coins Horizen is like a favourite of all and despise nothing. It is reliable, scalable, secure and very powerful network of Blockchains.
According to the official website, "Horizen is the most secure interoperable Blockchain ecosystem supported by the largest and most decentralized multi-tiered node infrastructure in the industry."
Horizen as stated above is a multi-tiered ecosystem which helps business and devs to develop their own private or public blockchains. The main chain of Horizen network has a total supply limited to 21 million and runs on proof of work mechanism. Both the supply and mechanism are similar to that of Bitcoin. Horizen implements a sidechain model for interoperability very similar to that of Polkadot's, Cardano's or of Chain link's. The side chains apply proof of stake consensus while ensuring the overall security of ecosystem. Although the side chains on Horizen run parallel to the main blockchain and these sidechains infrastructure is called 'zendoo' in Horizen ecosystem.
Bitcoin vs Horizen:
Bitcoin is king and Horizen seems merely a small part of its empire. As I already said that both these coins have same consensus mechanism and a total supply of 21 Million, yet they are different in many aspects.
Considering only the supply of horizen, I strongly believe that the price of ZEN can easily 5X to 100X in no time.
Like most of you guys, I would go with Bitcoin anytime but it's crypto and there are hidden stars and they may rise and blink at you. Horizen is one of my those stars. Let's take a look at the chart to compare it with Bitcoin.
As for Bitcoin it doesn't need to prove anything. Bitcoin is at another level and it must not be compared to other cryptocurrencies. Rather we can compare it Gold, Crude oil, or any other big impact commodities which have the potential to disrupt the macroeconomic markets anytime.
Horizen: $1000 next bull run?
The current price of 1 ZEN is about $10 which I think is due to the overall bearish sentiments in the wider markets. Nothing major or negative feedback has been reviewed about Horizen after the last bull run where we saw $165 (All time High) and in June 2023 it dived to about $6.
The most fascinating fact is the supply of Horizen is roughly which is just same as Bitcoin and 4 times less than that of Ethereum. Even if Horizen finds the 1/100 times of support as of Bitcoin, we may see the price of 1 Horizen in the $300 zone.
Third reason that horizen's use cases are applicable in the same way as of Ethereum and other top interoperable blockchains, I wonder Horizen would place itself in the top 50 coins soon. If it reaches there the price could soar definitely near to $1000.
- 2023 price Prediction $6 to $20
- 2024 price Prediction $10 to $100
- 2025 price Prediction $50 to $300
- 2026 price Prediction $200 to $500
At last I must admit your (my dear readers') pardon for bringing a comparative post of Bitcoin with that of a lower market cap coin.
However I trust in Horizen and hold a few Horizen coins (not surpassing 10 anytime) because I see a brighter future considering the team behind this project is diligent and quite innovative.
Thanks for Reading
Stay tuned for more...
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Disclaimer: Nothing in this post should be regarded as investment advice. These are solely my personal views. Readers are advised to do their own research before making a financial investment.
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