With a complete focus on privacy, Horizen, formerly known as Zencash, has now become the blockchain of blockchains. Unlike Bitcoin and Ethereum which are blockchains fueled by their cryptocurrencies, Horizen allows users to create their own blockchains on its network.
It’s not just a platform, but an ecosystem at its core. Individuals and companies can build blockchains, transact every day, develop and deploy decentralized applications, send and receive messages, and do much more. You landed on the right page if you found your way to this article asking yourself, “What is Horizen coin?”.
With features like shielded transactions and many privacy tools, the ZEN coin is rightly known as a privacy coin.
Horizen – Origin and Overview
Horizen (ZEN) is a privacy-focused cryptocurrency and the first-ever crypto to implement complete end-to-end encryption that protects all communications within nodes. It’s built on the back of a multi-tiered nodal architecture and is referred to as a privacy platform by its users.
Known as Zencash, this cryptocurrency project was launched in 2017. It utilizes zk-SNARKs to maintain high-security and optional privacy options which are based on Zero-Knowledge Proofs. rebranded from ZenCash to its current name in 2018 when it made significant leaps in terms of the technologies that it implemented.
While it has many impressive features, sidechains stand out the most. This is a model and development mechanism wherein users can create their blockchains as a subset or extension of the ZEN blockchain. They may then use this newly developed blockchain to power their crypto tokens, or publish dApps, create and implement smart contracts, etc.
The ZEN coin is one of the many aspects of the blockchain’s major network. Others include:
- A fully decentralized organization that’s autonomous and ever-growing.
- ZenChat – a private messenger. ZEN crypto coin and blockchain users may sign up for the chat platform and chat with each other. Only registered, verified users of the blockchain network can use this feature.
- Sphere by Horizen – a full suite application that acts as a multi-functional wallet.
Major Advantages of Horizen
This is a revolutionary development that allows blockchains to branch from the primary Horizen crypto blockchain. Each sidechain must follow the CCTP (Cross-Chain Transfer Protocol) which is why sidechains can communicate with the parent blockchain.
Having said that, sidechains are completely independent entities, and developers are free to create their nodes, choose their consensus protocols and parameters. The configurations are completely the choice of the developers and hence provide great flexibility in terms of the types of Dapps that can be published on the blockchain. This is possible due to the implementation of a decoupled consensus.
- Sidechain SDK
This is specially created for sidechain developers, but you need to realize that this isn’t just another software development kit. Sidechain developers are required to develop and implement the consensus and network layers, build their wallets, and then develop Dapps or write smart contracts that are needed.
The SDK eases the entire Horizen crypto experience, doing most of this work for you so you can focus on building your application instead of building and deploying layers and wallets.
- With over 40,000 active nodes distributed across more than 55 countries, this is one of the largest nodal networks in the world.
- You can contribute to the development of this open-sourced project through Horizen Developer Environment (HDE) and the Horizen Early Adopter Program (HEAP). These programs can be used to learn, develop, and test various innovations on the network or the ZEN coin. HDE even offers rewards when developers complete certain tasks.
- Transactions are highly confidential and secure
- They share their knowledge and love for cryptocurrencies through a self-funded educational project known as the Horizen Academy.
- An ambassador program that incentivizes participation from the community.
Why Choose Swapzone for ZEN Exchange?
Swapzone is an easy-to-use, reliable exchange aggregator, and a great find if you’re wondering which ZEN exchange is ideal for you. It’s one of the more secure, affordable crypto-to-crypto trading platforms out there. Some unique features of Swapzone are:
- Over 15+ exchange features and a completely non-custodial platform.
- VPN use allowed – secure your privacy whilst buying a ZEN coin.
- Auto-aggregator to assist you with rate comparisons.
- Simple trading and buying process – just a few clicks on a super intuitive UI and you’re done.
- Highly responsive 24/7 customer support through emails and chat.
- You can filter offers based on the current or required ZEN exchange rates, ETA, customer rating, etc.
- You can choose between fixed and floating offers – pick what’s best for you and purchase your first-ever ZEN crypto coin easily.
- Choose from a seemingly never-ending list of cryptocurrencies – the platform supports more than 400 tokens!
Zen Exchange: A Comprehensive Exchange Tutorial
With the latest Zen Exchange rate, tons of cool features, ease-of-use, and based on what you read above, you should be eager to exchange BTC to ZEN or vice versa. To help you get started, you can look up the video to understand exactly how to trade. The video is helpful for beginners as well as advanced users, it makes already simple things even simpler. Go ahead, get started with the ZEN crypto coin by watching the video below:
Is it worth investing in a privacy token? Definitely yes. Will it guarantee returns or safety? Nobody can. The point is, as of today, the ZEN coin is surely an interesting choice. The reason is that privacy is of the utmost importance now more than ever. According to a study** by US-based security services provider Norton, Crypto-jacking has become a common method to add your computer to assist in their crypto stealing exploits through mining.
Privacy is already a talking point among users, and companies that violate privacy policies are being shunned by their consumers. With this set to continue, privacy is set to become a huge factor in the coming years, and this could see a potential rise in demand for privacy tokens as well.