What is Horizen?
Horizen is a rebranding of an anonymous ZenCash (ZEN) cryptocurrency. Zencash was forked from ZClassic (ZCL). ZCL was previously obtained as a result of the Zcash hardfork. All users holding ZClassic, all the way up to block 110,000, were able to get ZenCash in a 1: 1 ratio. The development team has secured transactions as much as possible. Secure communication between nodes and wallets, secure nodes, wallets, and transactions is the main part of the Horizen system. Horizen (ZenCash) is not just a secure cryptocurrency; it also allows users to communicate when they make transactions. You can also publish your documents to the ZenCash blockchain using the Inter-Planetary File System (IPFS). Advanced cryptography technology and zero-knowledge proof protocol allow anonymous interaction on the platform.
Technical Features
The main goal of the developers is not just to create a digital currency (ZenCash) but to make a whole platform with its own ecosystem. Horizen is a confidential platform for user interaction. It looks like a decentralized, anonymous social network. Technically the ZenCash cryptocurrency is almost no different from its originals (ZCash and ZClassic). Horizen (ZenCash) is the first cryptocurrency with full end-to-end encryption. Horizen network uses the zk-SNARK protocol and fullnode encryption.
Horizen Tools
The ZenCash network has three tools that allow users to send messages, publish documents, and complete transactions - even from different continents. These tools are called: Zen Talk, Zen Pub, Zen Hide.
Zen TalkTransactions in the ZenCash network may contain an attached message of up to 1024 characters encrypted in the hash. This allows Zen users to chat with ZenTalk for a minimal fee, either directly to one z_address wallet or to a channel with several users. ZenTalk messages are encrypted using AES 256 paired with Perfect Forward Secrecy (PFS). This is the highest level of secure and anonymous digital communications.
Zen PubZen Pub allows users to upload and publish their IPFS or GNU Net documents in a 1024-character text box when they send Zen transactions. This level of communication helps authors and communities anonymously publish documents and create communication channels with their audience.
Zen HideZen Hide allows sellers to use Domain Fronting; a way to bypass filters and locks by hiding the final destination of the connection using CDN features (a multitude of servers with specialized software that accelerates the delivery of content to the user). Zen Hide also allows sellers to make anonymous and secure transactions with their customers. Even under conditions of state control and censorship.
Zen Mining
Total emission - 21 million ZEN
Consensus protocol - Proof of Work (PoW)
Mining algorithm - Equihash
Horizen (ZenCash) can be mined. Not only miners but also owners of secure nodes and supernodes receive a part of the reward from each ZEN block. Zen mining on GPU and CPU is not profitable and is exclusively done by ASICs. The Horizen network has 20 mining pools.
Block reward distribution scheme:
- Miners - 60%
- DAO - 20%
- Secure site operators - 10%
- Supernodes - 10%
Horizen creates a decentralized autonomous organization (DAO) as a voting mechanism. This mechanism is needed to distribute funds for the development of the platform. The main goal of the DAO is to create a decentralized mechanism for financing the development and maintenance of Horizen.
Horizen Community
- Horizen Community Council (HCC) - a bridge between users, the Fund, and business corporations
- Developer Environment (HDE) - an open-source community of developers
- Corporate and academic partners, miners, node operators, and users
The Foundation’s Academy provides free education courses on blockchain technology, online privacy, and the technical aspects of the Horizen project.
Horizen Academy is an open and free project. Everyone who wants to learn more about blockchain and cryptocurrencies can join Horizen Academy. Your level of prior knowledge doesn’t matter, you will find content that is just right for you. On the Academy website you will find articles about the history of blockchain and cryptocurrencies plus a list of resources for further reading, viewing, and listening
