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After years of development in the blockchain industry, it is now finally time for the blockchain to take the next step in its evolution. In other words, it is time for it to stop being a cluster of ecosystems where each lives in its own little bubble, developing independently and trying to attract users by promising profits made by employing solutions that do not exist anywhere else.
Indeed, the crypto/blockchain industry has come to the point where all of these ecosystems will be tied into a single major network, and create the next version of the internet — the so-called Web 3.0. However, before this can happen, the world of blockchain will have to resolve problems that have been there since the very start of its existence. Scalability has not yet been a solved matter, and while there is a handful of blockchain projects that seem like they have it under control, the majority of the crypto sector still does not.
Then, of course, there is also the issue of interoperability — actually connecting the ecosystems into the network that they can become. There are other problems worth discussing, but for the time being, let’s focus on these two, as they are likely the largest ones and the most difficult ones to resolve. However, that might not be the case for long, thanks to the project called Horizen (ZEN), which might just have the solution for both issues.
What Problems Does Horizen (ZEN) Solve?
As mentioned, Horizen aims to solve issues related to interoperability and scalability, both of which have been a problem for the blockchain world for years, and both of which need to be solved in order to take the next step.
Solving the scalability issue
Horizen is quite well known in the crypto world for developing and delivering zero-knowledge-based blockchain technology, and for developing one of the first scalability solutions of this kind. Its blockchain network provides a unique sidechain solution that allows developers to create their own scalable blockchains and support tens of thousands of transactions per second. All of that without sacrificing decentralization, too, so Horizen might very well be one of the projects that have developed the best available solution for the scalability problem.
Horizen has created a solution called the Zendoo protocol, which relies on SNARK verification and it enables blockchain interoperability. Thanks to the protocol, the project can offer complete flexibility when it comes to speed, consensus, sidechain type, as well as privacy. The network supports up to 10,000 sidechains, and it has a throughput limit of 10 million transactions per second, which is pretty much the peak of scalability and interoperability in crypto.
Earlier we mentioned that a lot of Horizen’s abilities come from Zendoo protocol, which is the ‘most powerful cross-chain protocol to build your blockchain’ according to Horizen itself. Its design allows developers to build their own blockchains and applications that can solve real-world problems of the modern world, and “capture tomorrow’s opportunities.”
The protocol is permissionless and fully decentralized, with auditable transparency, top-notch privacy levels, and it is flexible with a customizable crypto-economy.
Benefits of Horizen (ZEN)
Clearly, Horizen has great potential to impact the blockchain industry and allow crypto projects to continue their development towards the next stage of technological advancement. With that said, let’s see what benefits Horizen offers to its users directly.
Build your own scalable blockchain
Horizen’s network allows developers to build their own blockchain through the use of its unique sidechain solution. As the main chain, the sidechains are extremely flexible and perfect for building complex projects such as dApps that are expected to see a lot of use. It is also significantly simpler to do so with the project’s tools than to build a new chain from scratch. The sidechains are enabled by the Zendoo protocol, and, best of all, all sidechains are capable of communicating with the main chain, as well as with each other.
Optional privacy feature
Horizen offers a zero-knowledge-enabled cross-chain protocol that allows great privacy of its main chain and sidechains. However, the project also insists on the fact that its unique privacy features are optional, and that it is the users’ choice whether it will be applied or not. With that said, it is not a privacy coin-like project, which will likely be a huge advantage and it will prevent it from being frowned upon by the authorities around the world.
Another thing to note is that Horizen’s native crypto, ZEN token, is a mineable PoW coin that is currently trading on a number of major exchanges. ZEN can also be staked by those who wish to participate in the project’s full node network, which features well over 50,000 nodes. And, of course, users are rewarded for their contribution with more ZEN.
How Does Horizen (ZEN) Work?
Horizen is a zero-knowledge-based blockchain project whose team has made a number of advancements in the cryptography space. Thanks to the fact that it offers a uniquely scalable network, great levels of privacy and security, the ability to reach interoperability, Horizen has seen great amounts of interest. Especially among the developers, as it also allows for the creation of extremely scalable sidechains that allow users to develop their own blockchains and highly complex applications that can run without difficulties that are usually experienced with other blockchain platforms.
Furthermore, Horizen’s solutions may very well be the foundation for lasting interoperability in the blockchain world. The project has certainly developed an admirable scalability solution — perhaps even the best there is — but the interoperability is a huge feature that will likely ensure Horizen’s place in Web 3.0.
How to Buy Horizen (ZEN)
Currently, Horizen (ZEN) is available for purchase on the following exchanges
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
Binance – Accepts Australia, Singapore, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
Horizen (ZEN) — The leading scalability and interoperability solution
The blockchain sector is maturing at a rapid speed, and rather than having countless ecosystems in closed, isolated bubbles, it is slowly starting to connect these ecosystems into the network that will one day become the next, decentralized version of the internet. Horizen’s solutions might be the next step on the road to Web3, and that alone makes this project quite worth investing in, even if we put aside all other benefits that it is capable of offering.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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