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About Horizen (ZEN)
What Is Horizen?
Horizen is an EVM-compatible, zero-knowledge network designed to enable privacy, scalability, and security for decentralized applications (dApps). Launched in 2017 and governed by the Horizen Decentralized Autonomous Organization (DAO), it has become a leading platform optimized for zero-knowledge (ZK) use cases.
With Horizen 2.0, the ecosystem introduces a specialized Ethereum Virtual Machine (EVM) blockchain connected to zkVerify, a modular solution for proof verification. This innovation aims to drastically reduce verification costs, improve development efficiency, and support privacy-preserving applications across various sectors such as decentralized finance (DeFi), identity verification, gaming, and healthcare.
How Horizen Works
Horizen operates on a native Layer 1 blockchain architecture optimized for ZK applications. The platform integrates advanced cryptographic techniques to provide developers with tools to build efficient, private, and secure decentralized applications. Below are the key components that define how Horizen works:
EVM Compatibility and zkVerify Integration
Horizen 2.0 is a fully EVM-compatible blockchain that connects seamlessly to zkVerify. This integration allows developers to access multiple proof systems directly within the application layer, eliminating the need for costly and time-consuming cross-chain communication. By leveraging zkVerify, Horizen significantly reduces latency and enhances the speed and performance of ZK applications.
Precompiled Contracts for Proof Verification
Horizen introduces built-in precompiled contracts (also known as precompiles) that simplify ZK proof verification. These precompiles support various proof systems, including Groth16, Plonk, Fflonk, and UltraPlonk. This functionality streamlines development, reduces overhead, and improves security by eliminating the need for custom verifier contracts.
Substrate Framework and Modular Architecture
Horizen uses the Substrate framework to build a modular and efficient blockchain architecture. Its two main components include:
Core Client: Handles network activities, peer discovery, and consensus.
WebAssembly (Wasm) Runtime: Manages state transitions and enables proof verification through customizable modules.
This architecture supports scalability and flexibility, allowing developers to focus on building innovative solutions without being constrained by infrastructure limitations.
Use Cases
Horizen’s platform is designed for diverse applications in blockchain and Web3, including:
Identity Verification: Secure credential validation without exposing sensitive information.
DeFi: Private and scalable financial transactions that ensure compliance while protecting user data.
Gaming: Privacy-preserving mechanics like fog of war and secure in-game asset management.
Healthcare: HIPAA-compliant sharing of medical data with privacy protections.
Machine Learning: Verifiable AI computations that protect proprietary models and user data.
Supply Chain: Transparent yet private tracking of goods to maintain competitive advantages.
What Is ZEN Token?
ZEN is the native cryptocurrency of the Horizen ecosystem, serving as both a utility and governance token. It plays a crucial role in maintaining the network’s operations and decentralization.
The token has a fixed supply of 21 million coins, similar to Bitcoin, ensuring scarcity and promoting long-term value. ZEN’s utility extends to staking, gas fees, and transaction processing within the Horizen ecosystem, making it integral to its functionality.
In addition to its utility, ZEN functions as a governance token. Holders can actively participate in the Horizen DAO, propose changes, and vote on decisions through the ZenIP process, shaping the future direction of the network.
Conclusion
Horizen addresses key challenges in blockchain technology, including privacy, scalability, and cost-efficiency. Its commitment to zero-knowledge solutions and its unique EVM compatibility make it a versatile platform for developers looking to build secure and innovative dApps. For investors, ZEN provides a foundational role in supporting the ecosystem’s operations and governance, offering potential value in a growing market for privacy-focused blockchain technologies.
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After having successfully signed up on Bitget and purchased USDT or ZEN tokens, you can start trading derivatives, including ZEN futures and margin trading to increase your income.
The current price of ZEN is $13.37, with a 24h price change of +0.74%. Traders can profit by either going long or short onZEN futures.
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Horizen news
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US court's ruling against OFAC prompts surge in Tornado Cash token and raises privacy rights debates.
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Horizen Social Data
In the last 24 hours, the social media sentiment score for Horizen was 3.5, and the social media sentiment towards Horizen price trend was Bullish. The overall Horizen social media score was 123, which ranks 642 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Horizen being mentioned with a frequency ratio of 0%, ranking 847 among all cryptocurrencies.
In the last 24 hours, there were a total of 105 unique users discussing Horizen, with a total of Horizen mentions of 8. However, compared to the previous 24-hour period, the number of unique users decrease by 3%, and the total number of mentions has decrease by 82%.
On Twitter, there were a total of 2 tweets mentioning Horizen in the last 24 hours. Among them, 50% are bullish on Horizen, 0% are bearish on Horizen, and 50% are neutral on Horizen.
On Reddit, there were 24 posts mentioning Horizen in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 14% .
All social overview
3.5