What Is Horizen ZEN?
Horizen ZEN is a blockchain system that is interoperable with many different cryptocurrencies, as well as private blockchains. It offers a scalable data privacy feature and enables both businesses and developers to build private or public blockchains.
Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case-specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was announced on Oct. 31, 2017, and released binaries for mining on Jan. 3, 2018, with what is called a fair launch: no premine, ICO, or master nodes. It was named in reference to the TV show Game of Thrones. (More Details Below).
Horizen is a blockchain platform that offers data integrity and privacy. It’s completely decentralized and customizable to meet your needs. It also has low costs associated with building blockchains, which have configurable revenue models and unlimited tokens.
I had a quick look at the website and found a good list of what Horizen provides. The project claims to be developer-friendly and also open-source.
The platform was originally developed for Zcash and has been retrofitted to be a container for other blockchains. Zcash, which was developed by Zooko Wilcox-O’Hearn, employs a permissioned ledger and is one of the most interesting and promising cryptographic innovations in years.
It was engineered to increase trust in transactions by creating a shared ledger that requires proof of work to create a consensus. The system is currently in alpha release. The platform is based on a consensus algorithm called Casper, which aims to support the creation of a tamper-proof chain of events.
The Founders of Horizen ZEN
Robert Viglione co-founded OTC Exchange Atlas in 2008, which was later renamed HitBTC. HitBTC, one of the first major cryptocurrency exchanges in the world, later went through several ownership and management changes before being acquired by Binance in February of 2018.
Rolf Versluis has a history of successful software development for business and social media sites, as well as significant investments in cryptocurrencies and their underlying technology. He is an angel investor for the likes of Jaxx, Lisk, and Waves.
Horizen is a blockchain platform that aims to provide solutions for high-scale and scalability issues. The unique sidechain system allows a blockchain to be decentralized while maintaining data privacy.
How Does Horizen ZEN Work?
Viglione has been working on decentralized technologies for more than two decades. His early work helped to create Quorum, one of the blockchain platforms for the DCG’s ecosystem. Now, Viglione has founded the Horizen project. He’s also one of the co-creators of Zcash, and the former director of security at Parity Technologies. Versluis is the co-founder and CTO of EdenSmart. Horizen’s platform is built upon an immutable and distributed P2P network.
What Applications Can be Built on Horizen ZEN?
The developers of Horizen believe that the application development for their platform can be quite extensive. In fact, the developers claimed to have released only a small number of apps on their platform already.
Iconomi is an example of an application built on the system. The platform allows users to track the price of cryptocurrencies and find the best investment opportunities. With Iconomi, a user can set up a sidechain to do his trading and hedge his investments.
The other applications listed on the official site are referred to as demos. Each demo is dedicated to a different segment of the Horizen ecosystem. Sidechain Challenges Several challenges, in particular, do exist for the developers of Horizen.
What Are the Advantages and Disadvantages of Horizen ZEN?
With a focus on enterprise blockchain solutions, Horizen provides large-scale features such as deep integration with existing enterprise technologies such as traditional relational databases and open source middleware. According to the developers, their focus was to provide a simplified technical and user experience to the mainstream end-user.
Horizen has a very mature and well-documented code base, which is used to provide high-performance computing, private and public blockchain infrastructure. The developers have provided us with a rather lengthy comparison of the different iterations of Zendoo (Zend Framework, ZendOO, Zendoo. Light) and their respective implementations.
While the concept behind an interoperable blockchain is nothing new, Horizen is an interesting project that is off to a good start, based on our initial reviews of both BTL Group and ZEN and the data gathered from our interactive marketplace.
This article presented a new type of cryptocurrency, the first crypto-to-crypto token exchange, and explained a new type of coin that aims to function as a global transaction system for anyone around the world. The strategy is one of the smartest I’ve seen in the space in a very long time.
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