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What Is Horizen?

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Nov 23, 2022
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4 min read
what-is-horizen

This blog post will cover:

  • About Horizen (ZEN)
  • Where did Horizen (ZEN) come from?
  • What are the advantages of Horizen (ZEN)?
  • What are the disadvantages of Horizen (ZEN)?
  • How to buy Horizen (ZEN) on SimpleSwap?

About Horizen (ZEN)

Horizen is a platform that provides an opportunity to create public and private blockchains. The platform allows people and companies around the world to make daily transactions, exchange messages, release decentralized applications and publish them.Horizen has its own cryptocurrency, ZEN. It provides the opportunity to communicate privately and provides optional privacy with shielded transactions. Horizen cooperates with many crypto payment providers and constantly adds new ones to achieve mass adoption.The system is based on the end-to-end zero-knowledge encryption and zk-SNARK, which helps transmit and store messages, data or funds securely.ZEN uses the Equihash mining algorithm and PoW (Proof-of-Work) protocol.

Where did Horizen (ZEN) come from?

ZenCash came to the world at the end of May 2017 (no ICO and no pre-mine). The cryptocurrency is the hard fork of ZClassic, which in its turn appeared as a result of the Zcash fork. In August 2018 ZenCash was renamed to Horizen as it was a part of the brand renovation.The founders and the team of ZEN are people from different parts of the world with diverse experience. The team is working towards opening up the Horizen platform to the world so that anyone can build privacy-based applications with the option to monetize their creations. This will allow Horizen to bring real-life services to the mass market.The team lead is Rob Viglione.

What are the advantages of Horizen (ZEN)?

  • Horizen has one of the largest node networks in the industry
    
    With over 40,000 active nodes across 56 countries, a passionate worldwide community, a team of over 50 professionals.
  • Horizen has its own educational project called “Horizen Academy”
    
    Its main goal is to share the passion and knowledge about cryptocurrency and the blockchain technology with everyone.
  • Useful instruments
    
    ZEN network has tools that allow sending messages to members of the network and make public or private transactions. These tools are ZenChat and Sphere by Horizen.
  • Horizen strives to support and encourage community contributions to its open-sourced project
    
    Through their Horizen Developer Environment and the Horizen Early Adopter Program which allow developers to learn, test, and contribute to the blockchain project. The Horizen Developer Environment offers bounties in exchange for the successful completion of tasks.
  • High level of confidentiality
  • Fast creation of blocks

What are the disadvantages of Horizen (ZEN)?

  • Volatility, frequent falls of the exchange rate
  • Some people think that ZEN roadmap is non-detailed and needs to be more clear

How to buy Horizen (ZEN) on SimpleSwap?

Let’s say you want to buy the coin of Horizen. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • For example, you want to swap BTC for ZEN. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select ZEN in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. ZEN will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ZEN exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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