$4.1508

Horizen originally launched as ZenCash in May 2017, later switching its name to Horizen in August 2018. The project centers on privacy and seeks to address scalability and security challenges that many blockchains face. With that in mind, Horizen emphasizes scalable data privacy. Its distinctive sidechain approach, Zendoo, lets businesses and developers create their own tailored blockchains.

What are Horizen’s key features and how does it work?

Horizen achieves its privacy approach through a distinctive node setup. For instance, its node network is “multi-tiered,” so not every node performs the same role.

Standard full nodes maintain a full set of blockchain transaction and data records. Secure Nodes function like full nodes, but use special encryption-locking down node-to-node communication to help prevent information from being exposed or discovered during interactions. Super Nodes are higher-powered Secure Nodes that run Horizen sidechains.

Zendoo is Horizen’s proprietary sidechain technology. It enables developers and businesses to build their own blockchain or dApps over Horizen’s fully distributed, privacy-focused network. It also supports adding the particular logic and/or data a project requires.

Horizen’s consensus layer combines proof-of-work (POW) and proof-of-stake (POS). New token rewards go to both miners and validators. More specifically, the Horizen mainchain uses POW for consensus, while the sidechains rely on POS.

From the new ZEN tokens issued, miners get 60%, and Secure Node Operators and Super Node Operators each receive 10%. The remaining 20% is allocated to the Horizen Decentralized Autonomous Organization (DAO) Treasury, which helps support development across the ecosystem.

What is noteworthy about Horizen?

Horizen reports the largest count of active nodes. At present, it operates a network with more than 40,000 active nodes-more than Bitcoin and Ethereum, which are Horizen’s nearest rivals by node numbers. 

As with Bitcoin, Horizen has a total supply of 21 million ZEN, along with recurring halving events for block rewards. The first of these halving events occurred in December 2020, when the block reward moved from 12.5 ZEN to 6.25 ZEN.

Where can you buy Horizen (ZEN)?

Horizen (ZEN) is available on major CEXs: