Horizen (ZEN)
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About ZEN
Horizen (ZEN) is a decentralized, open-source cryptocurrency that empowers developers to build secure and private applications through its flexible Layer 1 platform. With a focus on zero-knowledge technology, Horizen enables both privacy and verifiable trust, making it an attractive option for developers and users seeking secure and private transactions. The platform's modular architecture and multiple proof verifiers allow for customizable and scalable applications, while its limited supply of 21 million ZEN coins maintains its value and scarcity. As a pioneer in the zero-knowledge space, Horizen is poised to revolutionize the way we think about blockchain technology, offering a unique combination of security, scalability, and innovation that sets it apart from other cryptocurrencies.
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Frequently Asked Questions about Horizen
What is Horizen (ZEN)?
Horizen (ZEN) is a privacy-first Layer 1 EVM blockchain and platform designed to empower developers with the flexibility to build zero-knowledge (ZK) applications.
What is Horizen 2.0?
Horizen 2.0 is the next-generation Layer 1 platform optimized for ZK applications, offering enhanced privacy and scalability. It represents a transformative leap forward, optimizing the platform for ZK applications and enhancing privacy features.
What is the architecture of Horizen?
Horizen is designed to be a Substrate-based parachain, working in conjunction with the zkVerify chain. It uses the Polkadot-SDK and is composed of multiple pallets working together, including FRAME, Cumulus, Aura, and Frontier.
What is the consensus mechanism used in Horizen?
Horizen uses the Aura consensus mechanism, which is Parity's Proof-of-Authority (PoA) consensus engine. The selection of authorities is governed by a Proof-of-Stake (PoS) mechanism, and collators are rewarded with transaction fees and coinbase (newly minted ZEN).
What is the staking process in Horizen?
Horizen uses the Parachain Staking pallet, which allows users to stake their ZEN tokens to support the parachain. The staking pallet is responsible for managing the staking process, including staking, delegation, and rewards distribution.
What is the zkVerify token and its relationship with Horizen?
Horizen 2.0 is designed to work in conjunction with the zkVerify chain - the latter operating as the relay chain. zkVerify relay chain validators secure both the relay Chain and the Horizen parachain. The zkVerify token is the utility token for the zkVerify network and the governance token for the future zkVerify ecosystem. Eligible ZEN holders will be included in zkVerify's initial token supply at the launch of mainnet.
What are the benefits of using Horizen?
Horizen offers users a secure, private, and scalable blockchain platform for various use cases. Its zero-knowledge technology provides an additional layer of privacy, while its sidechains enable developers to build a wide range of applications. Horizen's decentralized nature and limited supply make it an attractive option for investors and users alike.