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Horizen: Everything you need to know

ZEN

Source: Logo Vector Seek

Over the years, we have been able to witness the growth of the virtual currency industry globally and it has been more than successful in luring potential investors from all across the globe. The crypto world has had a surge in its overall growth and popularity recently and has been able to make a name for itself worldwide, thus helping it to reach greater heights!

Having said that, I believe, most of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

 Cryptocurrencies as the name suggests is nothing but a form of online or virtual currency which is here as an alternative for physical money that we are much more used to and just like that, this virtual asset of yours can also be used for a variety of purposes including the buying and selling of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges online.

Not just that, cryptocurrencies can also be seen as a blockchain-based platform that is decentralized to their very core. Now, being decentralized, the industry becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interference as well.

As mentioned, the crypto world has been around for quite some time now, and ever since it was first introduced, the industry has been more than successful in luring in potential investors from all across the globe and has been expanding at a rate that was never really anticipated.

Though some of you might be aware but, for some others, unlike when the industry was first introduced, there is an entire pool of currencies for investors today to choose from, with newer ones coming in with each passing day and tons of new people joining in every hour.

ZEN

Source: DappRadar

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones for you to choose from include Ethereum, Cardano, Polkadot, Bitcoin, EverGrow Coin, Binance Coin, Baby Doge, PancakeSwap as well as Dogecoin to name just a few of course.

In addition to this, some of you might be wondering as to how exactly did it reach such great heights? If so, let me help you with that. Some of the major contributing factors for this huge success of the industry include the convenience it offers, ease of use, intuitive nature, high-profit margins, negligible response time, real-time updates, uncertainty as well as the portability of course.

Now, being volatile, you should probably be aware of the fact that, the price fluctuations in the crypto marketplace are almost instant, thus leaving no time to predict and plan accordingly. Therefore, whenever dealing in virtual currencies, keep in mind that, if the industry is providing you with a platform to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Horizen. To know more, I suggest you read further!

Everything to know about Horizen (ZEN)

ZEN

Source: Medium

Horizen or as commonly referred to as ZEN is nothing but a zero-knowledge-enabled network of blockchain which is known to be powered by the largest node infrastructure in the industry. Not just that, blockchain interoperability is said to be enabled by the Zendoo protocol, which further is known to make use of SNARK verification, thus allowing complete flexibility in sidechain type, privacy, speed as well as consensus. 

In addition to this, the cryptographic verification of networked chains is known to offer massive scale and you should probably be aware of the fact that, the network is known to currently support up to 10,000 sidechains with a throughput limit of nearly 10,000,000 transactions per second (TPS). 

Speaking of Zendoo, it is said to make Horizen a permissionless network of blockchains. On a similar note, developers are able to deploy their blockchains within the ecosystem using a wide variety of SDKs.

Before moving on any further, it is probably worth noting that, Horizen was founded by Rolf Versluis along with Rob Viglione a couple of years ago. Not just that, ZEN is the native utility token of the Horizen platform, which as a matter of fact, can be used for a variety of purposes on the platform itself.

As far as ZEN goes, it is simply a mineable proof of work (PoW) coin which is currently trading on several major exchanges including Binance, Coinbase as well as Bittrex. Also, ZEN can easily be staked in order to participate in Horizen’s nearly 50,000 full node network. Basically, as mentioned, Horizen is a blockchain-based ecosystem that is said to enable privacy-preserving decentralized applications. 

ZEN

Source: Horizen

Using its native token, the said platform has both a sidechain as well as the main blockchain platform that is known to enable developers in order to build custom public and private decentralized applications (DApps) as well as blockchains.

Furthermore, being an expert in zero knowledge-based blockchain technology, the team at Horizen has been able to make several advancements in the cryptography space including their very own zero-knowledge privacy tool library known as Ginger-Lib, and for the launch of one of the first zero knowledge-based scalability solutions. 

It is worth mentioning that, their blockchain network is said to provide a unique sidechain solution that is known to allow developers on the platform to create their own scalable blockchains with the ability to support tens of thousands of transactions with each passing second, that too while maintaining true decentralization across tens of thousands of nodes. 

Lastly, Horizen is said to be decentralized on the technical level and can rapidly be seen moving towards being fully decentralized on the governance level with initiatives like Horizen community council as well as Zen improvement proposals. Also, Horizen uses the ZenIP process in order to standardize the overall process of suggesting major changes to the Horizen code base and ecosystem

Now that we have talked much about Horizen, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in Horizen (ZEN)

ZEN

Source: Changelly

As of today, the price of Horizen is about 38.63  US dollars with a twenty-four-hour trading volume of 82,156,332. Not just that, in just the past twenty-four hours, the value of Horizen has been down by  1.78 percent, and with the current market cap of 469,504,263 US dollars, ZEN is currently placed at #121 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of Horizen is 12,154,781 ZEN coins, with a  maximum lifetime supply of the token being  21,000,000 ZEN coins. In just the past week alone, the price of the platform has risen by  8.11 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Horizen is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Horizen can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said or sure!

ZEN

Source: Nomics

If still not convinced, see it this way that, if say you buy Horizen worth a hundred dollars today, you will receive nearly 2.633 ZEN. According to the analysis done by experts on the field, after five years of your investment, the return is expected to be about +590.1 percent and thus, your current hundred-dollar investment will be nearly 690.1 US dollars in 2027.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, Horizen does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy Horizen? Let me help you with that. Currently, Horizen is available on all major crypto exchanges but, some of the popular exchanges that have ZEN listed on them include Bitget, Binance, Huobi Global, OKX as well as Bybit to name a few.  

In conclusion, what are your thoughts on Horizen? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Top 10 metaverse cryptocurrency projects in 2022 

 

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