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Horizen (ZEN) Crypto Review 2024: A Complete ChangeNOW Guide

The Horizen blockchain ecosystem presents novel solutions for scaling blockchain infrastructure. Combining a Horizen proof-of-work (PoW) mainchain and a “Zendoo” proof-of-stake (PoS) sidechain solution, Horizen is bringing innovative opportunities for blockchain developers. Moreover, a key aspect of the mechanism is the Horizen coin (ZEN). Also, the native ZEN coin appears in different forms throughout Horizen’s crypto ecosystem.

Horizen (ZEN) Crypto Review 2024

In this article, we will dive deep into Horizen’s blockchain ecosystem, We’ll cover what ZEN is, who founded it, how it works, its unique value, and use cases. Explore its price analysis, learn how to buy ZEN coins, and find quick answers in our FAQ. Let’s get started!

What is Zen?

ZEN Crypto is the native cryptocurrency of the Horizen blockchain network. Horizen, a 2017-founded privacy-focused blockchain, uses sidechain technology to assist enterprises and developers in building decentralized applications through independent, connected blockchains.

  1. The goal of Horizen is to create a Proof-of-Work (PoW) cryptocurrency that would allow fully customisable decentralized apps using a Proof-of-Stake (PoS) sidechain platform.
  2. Equihash Proof of Work enhances security with delayed block penalty, while the sidechain platform simplifies building, deploying, and maintaining a blockchain with a user interface and developer tools.
  3. A decoupled sidechain network is made possible by the Cross-Chain Transfer Protocol (“CCTP”), which is not dependent on the programming language, consensus, or any other aspect of the sidechain designs.

Who are the Founders of Horizen?

– Horizen, formerly known as ZenCash, was established in 2017 as a privacy-focused blockchain project, originating from the Zclassic blockchain. The rebranding to Horizen in 2018 marked a significant evolution in the project’s identity and vision within the blockchain space.

-Horizen is a decentralized platform focusing on privacy, security, and inclusivity, aiming to empower individuals and businesses through secure transactions using blockchain technology.

How does Zen (Horizen) function?

-Horizen’s architecture allows for the creation of customized side chains for specific applications, operating in parallel with its primary Proof of Work-based blockchain, expanding its capabilities and potential use cases.

-The primary blockchain uses the Cross Chain Transfer Protocol (CCTP) as a “truth engine” to ensure the proper execution of consensus rules by side chains.

-The platform facilitates asset transfer through Forward Transfer, allowing users to move coins from mainchain to sidechains, and Backward Transfers, facilitating coin return from sidechains to the mainchain.

ZEN’s value – what makes it so special?

ZEN, as we’ve seen, is a very practical cryptocurrency with three main applications: usefulness, privacy, and governance. which this guide has addressed all of.

ZEN investment is a wager on Horizen network expansion and uptake, with increasing businesses entering blockchain and privacy concerns, indicating a strong position for further sidechain development.

Horizen (ZEN) Fundamental Value

Horizen, a blockchain platform utilizing zk-SNARKs technology, was established on January 9, 2018, as a branch of Zcash, without an Initial Coin Offering (ICO).

In simple terms, Horizen is similar to Zcash and Zclassic in terms of its mining process, consensus protocol, and the maximum number of coins (21 million).

Horizen is also working with the IPFS platform to enhance the next-generation Internet. The goal is to protect users from centralized control and maintain data confidentiality in various online activities.

Horizen (ZEN) Price Analysis

Based on our current predictions, it is anticipated that the value of Horizen will increase by 245.36%, reaching $28.42 by the end of 2026. However, the current sentiment is Bearish, and the Fear & Greed Index reflects extreme fear at 18.37. Considering these factors, selling Horizen at this moment is considered risky.

Horizen has declined -29.29% over the last 30 days. While a slight recovery is expected in the coming month, caution is advised. By the end of January, Horizen’s value increased by 118.58%, reaching approximately $17.08.

Horizen is currently trading below the 200 simple moving average (SMA) for the past 326 days since December 31, 2024, indicating a selling signal. Additionally, the price is below the 50-day SMA, suggesting a sell signal.

The RSI, a widely used momentum indicator, currently indicates a BUY position in the ZEN market, indicating a favorable position.

How to Buy ZEN Coins?

ZEN coins can be bought on exchanges such as Coinbase, Kraken, and Binance. Investors can also purchase ZEN through online brokers and trading platforms.

ChangeNOW offers a convenient exchange service for buying or selling ZEN with a bank account or credit card, offering competitive rates and minimal fees, including network fees.

The Horizen Crypto Ecosystem and ZEN Coin – A Summary

In summary, the Horizen blockchain ecosystem is built on the development of Horizen Labs. As a scalable and versatile protocol, the project itself hosts a multi-layer stack and many elements of the crypto ecosystem. Additionally, the native ZEN coin is critical to the project as it serves as the fuel for Horizen’s blockchain.

sachin
sachin
He is a Blogger, Tech Geek, SEO Expert, and Designer. Loves to buy books online, read and write about Technology, Gadgets and Gaming. you can connect with him on Facebook | Linkedin | mail: srupnar85@gmail.com

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