The crypto community is always here for the events happening on (and with) everyone’s favourite chains. One of the big things upcoming is, undoubtedly, Horizen Halving, which is bound to take place in December. Swapzone team, too, is happy to be on board the Halving-to-happen, as ZEN is an asset with
- an active and inclusive community,
- clear project vision,
- and rapid development.
So, in this article, we will try to break down the basics of Horizen Halving, remind the users of some pieces of blockchain history, and find a way to get some ZEN coins efficiently.
Let’s revise – what is Horizen ZEN?
Most probably, if you are looking for information on the Halving, you already know what Horizen ZEN is. However, it never hurts to go through some very basic notions once again. Horizen is a blockchain ecosystem and a project mainly focused on equal contributions and scalability. Businesses and individuals can use existing systems and create their own chains – both private and public. Horizen SDK, too, is here to help in customizing the blockchains with everything necessary for rapid and efficient development.
The project was launched as ZenCash in 2017. In 2018, a rebranding happened and we got to know Horizen that everyone is used to now. The original idea of the chain was to create a peer-to-peer environment to exchange money, media, and messages. Later, in 2019, the company has taken a turn to focus on something more development-oriented. The Sidechain System and SDK went live this year, as well.
What is Horizen Halving?
If you are not yet aware of Horizen as a project, it would be important to mention that the Horizen blockchain source code is based on Bitcoin. This means that the emission schedule is the same, and 21 million ZEN is the cap. Just like in Bitcoin, every four years (approximately), Halving happens. Halving in the event meant to make the block reward 50% smaller. The current reward for creating new blocks is 12.5 ZEN, so after the event takes place, miners will be receiving 6.25 ZEN. The reason for Halving is the same as the one of Bitcoin – ZEN is a deflationary currency. The issuance of coins should decrease over time.
Horizen Halving will take place around December 1st. It will be the very first block reward Halving of this chain. Of course, Horizen community has already taken care of fast and simple Halving tracking. You can check how much is left until the event right here. With Halving upcoming, the hype around Horizen and the discussion will only be growing. So, if you are thinking about jumping aboard before the event takes place, let’s take some time to think about better ways to onboard.
How to get Horizen ZEN?
Horizen usage is very well-facilitated. The very majority of multi-currency wallets,exchanges, swap services, and whatnot support ZEN. So, when it comes to the need to receive some Horizen coins, there are surely options to choose from. Non-custodial services would be the best pick, as there is no need to register, store funds on the exchange, or give up your security. However, with the abundance of services on the current market, it can be pretty challenging to find the offer that suits you best.
Fortunately, there is a solution to this issue – exchange deal aggregators like Swapzone. We work with custody-free exchange providers, gather the information on available deals through the APIs, sort all the data out and present it in one interface. The user can make an informed choice of a swap service, plus fund a better deal by sorting the options out. Here is how you do it.
How to convert any cryptocurrency to Horizen ZEN:
1. Go to the main page of Swapzone – a cryptocurrency exchange deal aggregator.
2. Select the currency you would like to exchange and enter the amount in the Deposit list.
3. Pick Horizen ZEN in the Receive list.
4. Choose the deal you would like to proceed with from the list – all the available offers from our exchange partners will be listed there. You can sort the offers out by best rates, best swap time and the rating of the service provider.
5. After picking the offer that suits you best, click the Exchange button to proceed.
6. Enter the recipient’s Horizen address on the next screen. Make sure you have entered the information correctly – the currency will be sent to this address.
7. Check the information once again. If everything is correct, click the button Proceed the Exchange.
8. Send the necessary amount of cryptocurrency to the wallet address the service provider has generated. After the deposit is received, our partners will exchange it to ZEN.
9. Exchanged ZEN coins will be sent to the address you have entered.
After you have performed an exchange, all you need to do is use your ZEN coins!