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What is Horizen (ZEN)?

Horizen basic info

Name:Horizen
Ticker:
Introduction:

What Is Horizen?

Horizen is a blockchain network designed with a cross-chain transfer protocol, enabling the development of real-world applications. Initially introduced as ZenCash in May 2017, it underwent a rebranding to Horizen in August 2018 to emphasize its capabilities beyond being just a cryptocurrency. Horizen is renowned for its focus on privacy and scalability, offering a platform that supports the creation of public or private blockchains. It employs a unique consensus mechanism and provides developers with advanced zero-knowledge tools to enhance privacy within the blockchain ecosystem. Horizen's ecosystem is supported by the largest node network in the industry, comprising around 45 thousand active nodes, making it a geographically diverse and decentralized network.

Horizen aims to advance blockchain technology by focusing on research and development, striving to introduce products with real-world utility. It has been meticulously developed to offer optimized utility through its permissionless blockchain network. The network is designed to incentivize stakeholders and establish a sustainable funding model, ensuring continuous innovation and improvement in blockchain technology. Horizen’s commitment to research and development positions it as a progressive project in the blockchain space, with a potential to significantly impact various industries by providing decentralized, scalable, secure, and privacy-based solutions.

Resources

Whitepaper: https://www.horizen.io/research/

Official Website: https://www.horizen.io/

How Does Horizen Work?

Horizen operates as a zero-knowledge-enabled network, utilizing an advanced consensus protocol and modularization to enhance scalability and support a growing number of decentralized applications (DApps). It employs a multi-tiered node system, including regular full nodes, Secure Nodes, and Super Nodes, each playing a crucial role in transaction verification and network enhancement. The network’s mainchain uses Proof of Work (PoW) for consensus, while the sidechains employ a modified version of the Proof of Stake (PoS) protocol. This unique model facilitates secure and decentralized cross-chain transfers without requiring the mainchain nodes to track sidechains to verify them.

Horizen has developed several features like Zendoo, a cross-chain transfer protocol allowing developers to build sidechains with a modular design, facilitating the development of advanced, zero-knowledge applications with real-world utility. The sidechains run parallel to the mainchain, providing extra functionalities without compromising speed and stability. Horizen also offers Sphere, the official wallet, and Horizen Academy, aimed at improving user knowledge. The network is governed by the Horizen Community Council (HCC), responsible for evaluating proposals to improve Horizen and ensuring the creation of a sustainable and decentralized governing body.

What Is ZEN Token?

ZEN is the native, deflationary token of the Horizen network, essential for building nodes and paying gas fees. It has a finite total supply of 21 million, with over 14 million currently in circulation. ZEN is rewarded to miners, node operators, and validators, playing a pivotal role in the network's functionality. It offers users an optional privacy feature, allowing them to control their digital footprint through T-Addresses and Z-Addresses, the latter enabling entirely private and anonymous transactions through zero-knowledge proof technology.

Horizen's Impact on Finance

Horizen stands out for its innovative approach to blockchain technology, focusing on privacy, decentralization, and real-world utility. Its impact on finance is profound, offering businesses and developers fast and affordable ways to create their own blockchains, potentially revolutionizing how companies operate and manage assets and data. The support from Grayscale Investments underscores Horizen’s potential, generating confidence among traditional enterprises in Horizen’s technology. Companies seeking blockchain solutions may prioritize Horizen for its advanced features, scalability, and privacy, making it a preferred choice for enterprises looking for decentralized and secure blockchain solutions.

What Determines Horizen's Price?

The price of Horizen (ZEN) is influenced by a myriad of factors, reflecting the dynamics of the cryptocurrency market. Cryptocurrency price predictions for Horizen are often made by analyzing market trends, cryptocurrency news, and the overall sentiment in the cryptocurrency community. The price is also significantly affected by developments within the Horizen network, such as technological advancements and partnerships, which can either boost confidence among cryptocurrency enthusiasts or raise concerns, leading to price fluctuations. Additionally, the listing of ZEN on leading exchanges such as Bitget can impact its accessibility and, subsequently, its demand and price.

Market analysis and cryptocurrency charts are crucial tools for both beginners and cryptocurrency experts interested in the price prediction of Horizen. They offer insights into the cryptocurrency's performance, allowing potential investors to make informed decisions on whether it is a good investment. The crypto community closely watches these trends, especially cryptocurrency influencers and enthusiasts, who play a pivotal role in shaping opinions and expectations around Horizen's future. The cryptocurrency market is known for its volatility, and Horizen is no exception. Therefore, a comprehensive understanding of cryptocurrency trading strategies, cryptocurrency risks, and crypto portfolio management is essential for anyone looking to invest in Horizen in 2023 and beyond.

In conclusion, the determination of Horizen's price is multifaceted, involving meticulous cryptocurrency analysis, market trends, and the prevailing sentiment within the crypto community. Potential investors and cryptocurrency enthusiasts should stay abreast of cryptocurrency events, developments within the Horizen network, and the overall cryptocurrency market to navigate the complexities of cryptocurrency investments effectively.

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Current price:
All-time high:$168.15
All-time low:$3.09

ZEN supply and tokenomics

Circulating supply:15,768,319 ZEN
Total supply:15,768,318.75 ZEN
Max supply:21,000,000 ZEN
Market cap:$460.26M
Fully diluted market cap:$612.97M

Links

Buy Horizen for $1Buy ZEN now

What is the development prospect and future value of ZEN?

The market value of ZEN currently stands at $460.26M, and its market ranking is #159. The value of ZEN is widely recognized by the market. When the bull market comes, the market value of ZEN will likely continue to increase.

Moreover, if ZEN can play a greater role in practical applications, such as Horizen builders fully leveraging the potential of ZEN, partnering with more businesses, and increasing its user base, the long-term value of ZEN will be significantly enhanced.

What will the price of ZEN be in 2025?
Based on ZEN's historical price performance prediction model, the price of ZEN is projected to reach $34.75 in 2025.
What will the price of ZEN be in 2030?
In 2030, the ZEN price is expected to change by -17.00%. By the end of 2030, the ZEN price is projected to reach $59.29, with a cumulative ROI of +123.08%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of ZEN and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is ZEN worth investing or holding? How to buy ZEN from a crypto exchange?

If you want to buy ZEN, the following information may be helpful for your investment decisions:
In the last seven days, the price of ZEN has risen by 95.43%, leading to positive returns for most ZEN investors. The market is currently optimistic about the price trend of ZEN.
It is important to note that the current price of ZEN has retreated by -82.64% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether ZEN is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in ZEN or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of ZEN, if you want to buy or sell ZEN, you can consider Bitget for your trading needs. The best place to buy ZEN is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Horizen has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Horizen. Here's a step-by-step guide on how to buy Horizen on Bitget.

How to get Horizen through other methods?

Using cash to buy Horizen is not the only way to obtain Horizen. If you have the time to spare, you can get Horizen for free.
Learn how to earn Horizen for free through the Learn2Earn promotion.
Earn free Horizen by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Horizen airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Horizen through Bitget Convert, Bitget Swap, or spot trading.

What is Horizen used for and how to use Horizen?

The use case of Horizen may expand as the crypto market and the project itself develop. Currently, you can use ZEN to achieve the following goals:
Arbitrage by trading ZEN: Since ZEN is a frequently traded cryptocurrency, the price of ZEN is always fluctuating. Earn more ZEN by buying low and selling high on the exchange. Bitget spot market provides a variety of ZEN trading pairs to fully meet your needs.
Earn by staking ZEN: You can also generate income through financial management methods such as staking ZEN or lending ZEN. Bitget Earn offers a variety of financial products designed to help you earn more income from your ZEN.
Send or pay ZEN: If you want to give ZEN to your friends, a charity, or a fundraiser, or you want to pay someone with ZEN, you can quickly and easily send ZEN to the recipient through their payment address.
You can also go to the official website of the Horizen project to learn more about the use cases of ZEN. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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ZEN resources

Tags

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PoW
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Links
Horizen WebsiteHorizen WhitepaperHorizen TwitterHorizen Github

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