Horizen (ZEN) is a blockchain platform designed to provide privacy, scalability, and secure application development, founded in 2017 initially under the name ZenCash. Later, in 2018, the project was rebranded to Horizen to reflect its growing scope from a privacy cryptocurrency to a blockchain platform. By utilizing advanced cryptographic techniques and a sidechain architecture, Horizen enables a versatile ecosystem for businesses and developers, emphasizing user data privacy and decentralized applications.
ZEN, Horizen’s native token, supports the Horizen ecosystem, acting as a medium of exchange, a staking and reward mechanism, and a tool for transaction fees across its main chain and sidechains. Since its inception, Horizen has grown to become a leading platform for scalable and private blockchain applications.
Horizon was founded by Rob Viglione and Rolf Versluis. Viglione, being an ex-physicist and military officer, took lead in building Horizen using his experience in blockchain research and management. In his mind’s eye, Horizen is designed to strike a good balance between being private and user-friendly while using its infrastructure in decentralised networks. And Versluis, co-founder of Horizen; formerly an engineer and an entrepreneur who brought valuable technical acumen to Horizen in creating infrastructure that works strongly towards better network performance and its reliability. Their combined efforts have positioned Horizen as a leader in privacy-focused blockchain solutions.
Horizen combines a privacy-focused main chain with a flexible sidechain system to achieve scalability and functionality. Its main blockchain supports privacy-preserving transactions through zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), ensuring user data remains confidential. The Zendoo protocol allows the creation of custom, independent sidechains, enabling developers to build blockchain applications for specific use cases without overloading the main chain. Horizen’s sidechain infrastructure supports scalable dApp development and transaction processing, improving the capacity and flexibility of the platform.
For the transaction mechanism, Horizen’s main chain operates on a Proof of Work (PoW) consensus mechanism, providing security and decentralization. Sidechains employ Proof of Stake (PoS)-based models that ensure energy-efficient and scalable consensus. Horizen’s main chain achieves up to 30 transactions per second (TPS), while its sidechain infrastructure is highly scalable, supporting thousands of TPS when sidechains are utilized for dApp deployments and custom solutions.
Horizen has established strategic partnerships that empower its ecosystem and encourage further adoption. In collaboration with IOHK, Input Output Hong Kong, Horizen is upgrading its Zendoo protocol to ensure the blockchain scales and operates efficiently. This deal underlines a mutual commitment to blockchain innovation and the advancement of decentralized infrastructure.
The partnership with Celsius Network introduces staking and rewards for ZEN holders, giving additional utility and incentivizing token holders. This will bridge the Horizen ecosystem with mainstream financial services and drive wider adoption. With the integration of DIA’s decentralized Oracle services, Horizen will have access to secure and reliable external data feeds for its blockchain applications. This capability is essential in connecting dApps with real-world data and further enhances their utility across various industries.
Horizen has set some milestones and rolled out new features to stay competitive. The implementation of the Zendoo protocol was a breakthrough development that finally allowed the creation of fully customizable, independent sidechains. It has unlocked new use cases in finance, gaming, and supply chain management and made Horizen one of the leaders in blockchain scalability.
Horizen’s move to be compatible with Ethereum Virtual Machine is a great leap forward. This initiative further enables developers to deploy Ethereum-based smart contracts on Horizen’s sidechains, further expanding its developer ecosystem and attracting DeFi and NFT projects. The introduction of stake functionality has empowered users to earn rewards while contributing to network security and the operation of sidechains. This has further strengthened community engagement and decentralized network governance.
Updates to the ZEN tokenomics include long-term incentivization for stakers and developers that ensure continued growth in active participation within the ecosystem. The release of state-of-the-art developer tools by Horizen has made blockchain application development much easier, thus nurturing innovation and expanding its dApp ecosystem. These partnerships and innovations help solidify Horizen as the go-to versatile blockchain platform, powering scalability, privacy, and real-world adoption.
Currently, ZEN trades around $25.65 with a market capitalization of $387 million as of December 20, 2024, making it one of the leading privacy and scalability-focused blockchain platforms. ZEN reached its all-time high (ATH) of $168.15 on May 8, 2021, and its all-time low (ATL) of $3.09 on July 31, 2017. Factors affecting price changes include increasing adoption of Zendoo-powered sidechains, boosting demand for ZEN as a staking and transaction token. Horizen’s push toward EVM compatibility has attracted developers in search of scalable and private solutions for DeFi and NFTs. Staking opportunities for ZEN holders have increased network engagement and long-term interest in the token.
Horizen was the first blockchain platform that combined privacy, scalability, and versatility. Equipped with the latest Zendoo protocol, Horizen gives power to developers to create their blockchain solutions for solving real-world challenges in different industries. With strategic partnerships, a thriving ecosystem, and further improvements in scalability and privacy, Horizen will remain one of the most active players in the blockchain arena and a driver for greater adoption and innovation in decentralized systems.
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FAQs
Q1. What is Horizen used for?
- A: Horizen is a blockchain platform for private transactions and the development of scalable applications through its Zendoo sidechain protocol.
Q2. What is the Zendoo protocol?
- A: Zendoo is Horizen’s sidechain framework, which lets developers build custom blockchains and dApps without overloading the main chain.
Q3. What consensus mechanisms does Horizen use?
- A: Horizen’s main chain is based on Proof of Work, while sidechains employ the Proof of Stake consensus model for better scalability and efficiency.
Q4. What role does ZEN play?
- A: ZEN is the native token used in transactions, staking, and incentivizing developers and network participants.