Horizen, formerly known as ZenCash is an open-source, decentralized, blockchain-based cryptocurrency that provides its users total anonymity and maximum privacy. It was created with the aim of providing a peer-to-peer economic system for money, messaging and media.
ZenCash was founded by Rob Viglione and Rolf Verslius and was launched in May 2017. It was later rebranded as “Horizen” in July 2018.
In fulfilling its goal of providing full privacy, anonymity, and safety to its users, Horizen uses the following protocols: zk-SNARKS, TLS integration, distributed publishing, domain fronting, client-to-node encryption as well as end-to-end encryption. Users can through these technologies choose the level of transparency for digital assets, communications, and publications.
To add to the coin, ZEN, the Horizen platform also provides a chat platform and will eventually enable users to publish information and access anywhere on the web with total privacy.
Horizen is a fork of ZClassic (ZCL), a derivate of ZCash (ZEC), which originally a Bitcoin (BTC) clone. Horizen did not have a pre-mining neither did it conduct an ICO. 21 million coins is its fixed lifetime amount. Horizen is currently listed on Binance, OKEx, Bittrex, and Cryptopia among other exchanges.
How Does Horizen Work?
In Horizen, data is relayed by utilizing secure node systems through connecting nodes and delivered by the core protocol. Horizen encrypts network data and enforces strict privacy requirements. When using the ZenChat service, the core protocol also delivers secure messages.
Horizen uses a domain fronting technique to hide the endpoint of communications. ZenPub, a commercial content distribution (CDN) network uses the HTTPS protocol to provide a secure standard for securely publishing documents. The ZenCash blockchain is protected by masternodes from network attacks. This validation systems help to make transactions faster and supports decentralized governance.
Multi-layer sidechains which store information about Super Nodes and Secure Nodes are supported by super nodes. The network of Super Nodes helps to validate and verify tracked information.
The ZenHide service helps in masking network traffic data to enable users facing hurdles with regulation and other filtering hurdles are able to connect to the ZenChat network without much hassle.
Horizen raises funds for development and security improvements by changing the algorithm for the distribution of mining rewards, which is now in ZClassic. The reward distribution is as follows:
- 88% of the reward will remain miners. (This is 12.5 ZEN per block)
- 5% is dedicated to financing one or more DAO.
- 3.5% of the reward for the block will be received by operators of protected nodes.
- 3.5% is reserved for funding the core team of Horizen.
Horizen will be Listing on Atomars
Horizen (ZEN) has announced that it will be listing on Atomars on the 19th of November and trading pairs will be: ZEN/BTC and ZEN/ETH.
Atomars is a new digital assets trading platform on the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. The Atomars platform is a fast, safe, secure and user-friendly platform that seeks to make trading easy for everyone. You can find many cryptocurrencies like Bitcoin, Ethereum, USDT, Litecoin and more on the platform. They have a web and mobile app which makes it easy and fun trading on the go.