Horizen Price(ZEN)

Horizen (ZEN) is a blockchain network that aims to advance blockchain technology and enhance its real-world utility. It utilizes a cross-chain transfer protocol and zero-knowledge tools to support privacy and the development of decentralized applications (DApps). The ecosystem includes features such as Zendoo, ZenNodes, Sphere, Academy, and the Horizen Community Council (HCC).

What sets Horizen apart from other blockchain networks is its modular protocol, which allows for extensive scalability, flexibility, and creativity in application development. The network's consensus mechanism and advanced protocol ensure transparency, privacy, and adherence to predetermined rules.

Horizen, formerly known as ZenCash, was introduced in May 2017 as a blockchain network designed to support the development of real-world applications. It utilizes a cross-chain transfer protocol and a consensus mechanism that provides developers with zero-knowledge tools for privacy. In June 2018, the network experienced a 51% attack, which led to improvements in the consensus mechanism to increase security. The project was renamed Horizen in August 2018 to avoid confusion and eliminate association with the unrelated Zcash project.

Horizen's zero-knowledge proof technology works by providing developers with advanced tools to support privacy on the blockchain. It utilizes a modular protocol that acts as a truth engine, ensuring that sidechains follow predetermined rules. This modularization allows for scalability, flexibility, and creativity in the development of applications.

The benefits of Horizen's zero-knowledge-proof technology are numerous. Firstly, it enhances privacy by allowing users to prove the validity of a statement without revealing any additional information. This is crucial for applications that require privacy, such as financial transactions or identity verification. Secondly, it improves security by reducing the risk of data breaches or hacks. With zero-knowledge proofs, sensitive information remains encrypted and inaccessible to unauthorized parties. Lastly, it promotes real-world utility by enabling the development of advanced decentralized applications that can be used in various industries.

The key features of the Horizen blockchain ecosystem include:

1. Zendoo: Horizen's cross-chain transfer protocol that allows developers to build sidechains and develop advanced, zero-knowledge applications with real-world utility. It is designed to be private, transparent, decentralized, and permissionless.

2. ZenNodes: These support Horizen's extensive sidechain ecosystem. Secure node operators and super node operators stake ZEN tokens and contribute to the network's security and functionality.

3. Sphere: The official Horizen wallet, available for Mac, Windows, and Linux. It offers private keys, a memo field, and a transparent address multisig. Horizen also works with third-party wallets.

4. Academy: Horizen Academy aims to improve users' knowledge by offering free articles on various topics related to Horizen and blockchain technology. Users can choose from a wide range of core topics and explore related concepts.

5. HCC: The Horizen Community Council is responsible for the governance of the Horizen blockchain. It serves as a decentralized governing body and evaluates proposals to improve Horizen.

Zendoo plays a crucial role in Horizen's cross-chain transfer protocol. It serves as Horizen's cross-chain bridge, enabling the seamless transfer of assets and data between different blockchains.

With Zendoo, developers can create and deploy their own sidechains on the Horizen network. These sidechains can have their own unique features and functionalities while still being connected to the main Horizen blockchain.

Zendoo's modular design allows for the development of advanced, zero-knowledge applications that have real-world utility. It ensures privacy, transparency, decentralization, and permissionless access.

ZenNodes play a crucial role in supporting the Horizen sidechain ecosystem. These nodes are responsible for validating transactions and maintaining the security and integrity of the network. By running a ZenNode, operators contribute to the decentralization and stability of the Horizen blockchain.

To become a node operator, certain requirements need to be met. For secure node operators, a stake of 42 ZEN is required. This stake helps ensure the commitment and dedication of the operators to the network. Super node operators, on the other hand, must stake 500 ZEN and have fixed computation and storage requirements. They also have a faster response time compared to secure node operators.

By meeting these requirements, node operators can participate in the consensus mechanism of the Horizen blockchain and earn rewards for their contributions. These rewards can be in the form of ZEN tokens, which can be used for various purposes within the Horizen ecosystem.

The tokenomics of ZEN, the native token of the Horizen network, play a crucial role in the functioning of the ecosystem. ZEN is a deflationary token that is used for various purposes within the network. Users who wish to build nodes must stake ZEN tokens, which helps secure the network and maintain its integrity. Additionally, ZEN is used to pay gas fees for transactions on the network.

Mining profits are also paid out in ZEN tokens, incentivizing miners to contribute to the network's security and decentralization. The total supply of ZEN tokens is finite, with a maximum of 21 million tokens. Currently, the circulating supply is over 14 million tokens.