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Horizen (ZEN) is the 261st largest cryptocurrency in the world by market cap, valued at $136,076,519. The current price of Horizen is $10.23, which is -1.823% lower than yesterday. Prices have ranged between $10.79 and $10.13 over the past 24 hours. All prices are listed in US dollars and accurate as of January 27, 2023 04:01 UTC.
Horizen is a blockchain platform that focuses on scalable privacy. Launched in 2017, the project was first created as a hard fork of the Zcash project.
It was originally called ZenCash. However, the project was rebranded in 2018 to Horizen. According to Horizen’s website, the project’s mission is to build a fair and inclusive ecosystem, where businesses can build their own blockchains utilising the platform’s scalable sidechain technology and node network.
Each separate sidechain is connected to the central Horizen mainchain. The mainchain implements a Proof-of-Work (PoW) Equihash consensus mechanism, which enables faster confirmation times. The sidechains implement a Proof-of-Stake mechanism validated by Secure and Super Nodes.
ZEN is the native token of the Horizen ecosystem. ZEN tokens are distributed to miners on the mainchain and those that stake to secure the sidechains. 60% are rewarded to miners. 20% are split evenly between Secure Nodes and Super Nodes. The remaining 20% are placed into the Horizen Team Treasury.
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