chain: News of Horizen (ZEN) - July 2024 Price Update - 7.61% Breakout Crypto News and Analysis

To God be the Glory

Explore the Core.

ZEN is the governance and utility token for Horizen, a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. Blockchain interoperability is enabled by the Zendoo protocol, which uses SNARK-verification and allows for complete flexibility in sidechain type, consensus, and speed. Cryptographic verification of networked chains offers massive scale, and the network currently supports up to 10,000 sidechains with a throughput limit of 10,000,000 TPS.

Student

Explore the Core.

ZEN is the governance and utility token for Horizen, a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. Blockchain interoperability is enabled by the Zendoo protocol, which uses SNARK-verification and allows for complete flexibility in sidechain type, consensus, and speed. Cryptographic verification of networked chains offers massive scale, and the network currently supports up to 10,000 sidechains with a throughput limit of 10,000,000 TPS.

Blockchain analyst and front end web designer.

Explore the Core.

Horizen solves critical issues in the blockchain space, including scalability, interoperability, and developer flexibility. As a zero-knowledge-enabled network of blockchains, Horizen is powered by the largest node infrastructure in the industry. The Zendoo protocol enables blockchain interoperability using SNARK-verification, supporting up to 10,000 sidechains with a throughput limit of 10,000,000 TPS. This allows developers to deploy customized blockchains within a permissionless environment using various SDKs. The launch of Horizen EON, an EVM-compatible smart contracting platform, enables developers to build and deploy decentralized applications while benefiting from the Ethereum ecosystem. Additionally, Horizen is migrating its ecosystem to a new EVM-compatible parachain on ZKVProtocol, repurposing 60% of future ZEN block rewards to incentivize activities beyond PoW mining. This innovation enhances scalability, flexibility, and security in the blockchain network.

Spot the Main Event:

The recent development that significantly impacted Horizen's price is the adoption of ZenIP 42406 and the subsequent upgrade to Horizen 2.0. This upgrade includes the migration of the $ZEN ecosystem to a new EVM-compatible parachain built on ZKVProtocol. This move allows Horizen to deprecate the PoW main chain and repurpose 60% of future ZEN block rewards to incentivize other activities, creating new opportunities for utility and engagement within the network. The announcement of this transformative upgrade likely served as the breakout trigger, as it signals a major shift in the project's direction and capabilities. By enhancing scalability, interoperability, and developer empowerment, the upgrade positions Horizen for greater adoption and innovation. This news, combined with the community's proactive approach to security and best practices, has likely contributed to increased investor confidence and interest in the $ZEN token, driving its price upward.

Student

Explore the Core.

ZEN is the governance and utility token for Horizen, a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. Blockchain interoperability is enabled by the Zendoo protocol, which uses SNARK-verification and allows for complete flexibility in sidechain type, consensus, and speed. Cryptographic verification of networked chains offers massive scale, and the network currently supports up to 10,000 sidechains with a throughput limit of 10,000,000 TPS. Zendoo makes Horizen a permissionless network of blockchains. Developers can deploy their blockchains within the ecosystem using a variety of SDKs. In 2023, the ecosystem team launched Horizen EON, a public proof-of-stake sidechain and an EVM-compatible smart contracting platform that allows developers to efficiently build and deploy dapps on the Horizen ecosystem, while benefiting from the Ethereum ecosystem. Since going live with Horizen EON, DeFi projects including SpookySwap, Ascent Exchange, and Yuzu have successfully integrated into the Horizen ecosystem.

Explore the Core.

ZEN is the native cryptocurrency of Horizen. It is the native gas token powering the ecosystem, enabling the connections between our different chains

Explore the Core.

ZEN is the governance and utility token for Horizen, a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. Blockchain interoperability is enabled by the Zendoo protocol, which uses SNARK-verification and allows for complete flexibility in sidechain type, consensus, and speed. Cryptographic verification of networked chains offers massive scale, and the network currently supports up to 10,000 sidechains with a throughput limit of 10,000,000 TPS

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