On July 15, 2024, at precisely 17:02 UTC, Horizen (ZEN) experienced a significant price breakout, surging by 7.61% to reach $12.87. This notable price movement has caught the attention of the cryptocurrency community, driven by a series of strategic and technological advancements. Horizen, known for its expertise in zeroknowledgebased blockchain technology, has recently made waves with its innovative sidechain solutions and the launch of Horizen EON, an EVMcompatible smart contracting platform. The latest price surge is a testament to the project's ongoing commitment to scalability, interoperability, and decentralization. The recent breakout of Horizen (ZEN) on July 15, 2024, with a notable gain of 7.61%, has captured the attention of the cryptocurrency community. The surge in ZEN's price to $12.87 can be attributed to several key developments within the Horizen ecosystem, each contributing to heightened investor confidence and market activity. Let's delve into the primary reasons behind this breakout, supported by visual evidence to provide a comprehensive understanding of the factors at play.
Horizen's expertise in zeroknowledgebased blockchain technology has long been a cornerstone of its value proposition. The project has made significant strides in the cryptography space, notably with the release of Zendoo, a zeroknowledgebased scalability solution. This technology underpins Horizen's unique sidechain solution, enabling developers to build scalable blockchains capable of supporting tens of thousands of transactions per second while maintaining decentralization across a vast network of nodes.
Stake to earn and Polkadot affiliation: The price surge is attributed to the staking rewards and the project's affiliation with Polkadot, drawing more investors.
The integration of staking rewards and the strategic affiliation with Polkadot has significantly bolstered Horizen's appeal to investors. This partnership not only enhances Horizen's interoperability but also provides additional incentives for holding and staking ZEN, leading to increased demand and a subsequent price rise.
ZenIP 42406 and Horizen 2.0 upgrade: The adoption of ZenIP 42406 and the upgrade to Horizen 2.0, including migration to an EVMcompatible parachain, have enhanced scalability and interoperability.
The transformative upgrade to Horizen 2.0, driven by the adoption of ZenIP 42406, marks a significant milestone for the project. This upgrade involves migrating the ZEN ecosystem to a new EVMcompatible parachain built on ZKVProtocol. By deprecating the PoW mainchain, Horizen can repurpose 60% of future ZEN block rewards to incentivize activities beyond PoW mining. This move enhances scalability, flexibility, and security, positioning Horizen for greater adoption and innovation.
Upgrade completion and Binance recognition: The recent upgrade completion and Binance's recognition have increased investor confidence, contributing to the price breakout.
The completion of the Horizen 2.0 upgrade, coupled with Binance's removal of the monitoring tag for ZEN, has significantly boosted investor confidence. Binance's recognition of ZEN's strong performance and stability signals to the market that Horizen meets stringent listing criteria, including robust development activity, team commitment, and a secure network. This positive market perception has encouraged more participation in the Horizen ecosystem, driving the price upward.
In conclusion, Horizen's recent breakout can be attributed to a confluence of strategic developments, including staking rewards, Polkadot affiliation, the transformative Horizen 2.0 upgrade, and recognition from Binance. These factors collectively enhance Horizen's scalability, interoperability, and market position, fostering increased investor confidence and driving the price surge. In summary, Horizen's recent price breakout can be attributed to several key developments, including the adoption of ZenIP 42406, the upgrade to Horizen 2.0, and the removal of Binance's monitoring tag. These advancements have enhanced the project's scalability, interoperability, and investor confidence. As always, it's crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively.
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Explore the Core.
Horizen is known for its expertise in zero-knowledge-based blockchain technology. The Horizen team has made several advancements in the cryptography space, including the release of one of the first zero-knowledge-based scalability solutions called Zendoo. Their blockchain network provides a unique sidechain solution that allows developers to build their own scalable blockchains with the ability to support tens of thousands of transactions per second while maintaining true decentralization across tens of thousands of nodes. Horizen also features Zendoo, a sidechain system that enables the deployment of thousands of independent sidechains that communicate with the mainchain and each other. Horizen has expanded its ecosystem with the release of Horizen EON, an EVM compatible smart contracting platform with lots of integrations in the DeFi, RWA, and NFT space.
Spot the Main Event:
The Horizen community was told Binance has removed the monitoring tag for $ZEN, recognizing its strong performance and stability -Consistent Stability and Confidence: Indicates that $ZEN has demonstrated consistent stability and security, reducing concerns over volatility and risk. -Improved Listing Criteria: Indicates that $ZEN meets Binance’s stringent listing criteria, including strong development activity, team commitment, and a secure network. -Positive Market Perception: Reflects a positive outlook on $ZEN, increasing user confidence and encouraging more participation in the Horizen ecosystem. With the recent passing of ZenIP 42406, the Horizen ecosystem is set to transform to Horizen 2.0, following the vision of Horizen as a home for ZK and enhanced utility for $ZEN!
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GLORIA OLUWAFERANMITo 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.
Spot the Main Event:
The Horizen community recently shared Binance has removed the monitoring tag for $ZEN, recognizing its strong performance and stability -Consistent Stability and Confidence: Indicates that $ZEN has demonstrated consistent stability and security, reducing concerns over volatility and risk. -Improved Listing Criteria: Indicates that $ZEN meets Binance’s stringent listing criteria, including strong development activity, team commitment, and a secure network. -Positive Market Perception: Reflects a positive outlook on $ZEN, increasing user confidence and encouraging more participation in the Horizen ecosystem. With the recent passing of ZenIP 42406, the Horizen ecosystem is set to transform to Horizen 2.0, following the vision of Horizen as a home for ZK and enhanced utility for $ZEN!
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Oluwatosin BamideleTrade hard. Joy is coming
Explore the Core.
Horizen is known for its expertise in zero-knowledge-based blockchain technology. The Horizen team has made several advancements in the cryptography space, including the release of one of the first zero-knowledge-based scalability solutions called Zendoo. Their blockchain network provides a unique sidechain solution that allows developers to build their own scalable blockchains with the ability to support tens of thousands of transactions per second while maintaining true decentralization across tens of thousands of nodes. Horizen also features Zendoo, a sidechain system that enables the deployment of thousands of independent sidechains that communicate with the mainchain and each other. Horizen has expanded its ecosystem with the release of Horizen EON, an EVM compatible smart contracting platform with lots of integrations in the DeFi, RWA, and NFT space.
Spot the Main Event:
Binance has lifted the monitoring tag for $ZEN, acknowledging its good performance and stability, the Horizen community has been informed. -Consistent Stability and Confidence: This lowers worries about volatility and risk because it shows that $ZEN has consistently shown stability and security. -Improved Listing Criteria: Shows that $ZEN satisfies the demanding listing requirements set by Binance, which include a secure network, a robust development activity, and team dedication. -Positive Market Perception: Shows that things are looking up for $ZEN, boosting user confidence and promoting greater involvement in the Horizen ecosystem. Following the idea of Horizen as a home for ZK and improved utility for $ZEN, the Horizen ecosystem is about to change into Horizen 2.0 with the recent passing of ZenIP 42406!
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shuaibu abubakarA dedicated learner!
Explore the Core.
If you're referring to Horizen (formerly ZenCash), they're building a cutting-edge blockchain ecosystem that focuses on scalability, security, and privacy
Spot the Main Event:
Great news for the horizon community! According to them, Binance has removed the monitoring tag for Zen, recognising it's strong performance and stability
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Praise OlagbadunProfessional Author and Crypto Trader
Explore the Core.
Horizen is a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry like Metamask, LayerZero, and WalletConnect, to mention a few. They've got a couple of innovative features like the Blockchain networks interoperability, which is powered by Zendoo. They've also provided a variety of SDKs where Developers can deploy their Dapps.
Spot the Main Event:
The major reason for the current increase in the price of the token is their upgrade that just got completed. Another possible reason would be the fact that their token just got recognized by Binance.
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Aliu adinoyiStudent
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.
Spot the Main Event:
Binance has removed the monitoring tag for $ZEN, recognizing its strong performance and stability! What does this mean for Horizen ($ZEN)? -Consistent Stability and Confidence: Indicates that $ZEN has demonstrated consistent stability and security, reducing concerns over volatility and risk. -Improved Listing Criteria: Indicates that $ZEN meets Binance’s stringent listing criteria, including strong development activity, team commitment, and a secure network.
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Christian PatrickBlockchain 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.
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Dragon SquadFootball coach and sports analyst
Spot the Main Event:
Binance removed the monitoring tag for ZEN, recognising it's strong performance and stability, this means: Consistent Stability and Confidence: Indicates that $ZEN has demonstrated consistent stability and security, reducing concerns over volatility and risk. Positive Market Perception: Reflects a positive outlook on $ZEN, increasing user confidence and encouraging more participation in the Horizen ecosystem. And as a result of the above, With the recent passing of ZenIP 42406, the Horizen ecosystem is set to transform to Horizen 2.0, following the vision of Horizen as a home for ZK and enhanced utility for $ZEN! 🔥 This is a strong and positive pointer to the reason behind the surge in price
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Explore the Core.
Horizen aims to build a Proof-of-Work cryptocurrency, with a Proof-of-Stake sidechain platform enabling fully customizable decentralized applications. The system has a Bitcoin-like blockchain at the core, with Equihash Proof of Work featuring a delayed block penalty algorithm for additional security.
kabiru adinoyiStudent
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.
Spot the Main Event:
Binance has removed the monitoring tag for $ZEN, recognizing its strong performance and stability!🎉💪 What does this mean for Horizen ($ZEN)? 🤔 -Consistent Stability and Confidence: Indicates that $ZEN has demonstrated consistent stability and security, reducing concerns over volatility and risk. -Improved Listing Criteria: Indicates that $ZEN meets Binance’s stringent listing criteria, including strong development activity, team commitment, and a secure network. -Positive Market Perception: Reflects a positive outlook on $ZEN, increasing user confidence and encouraging more participation in the Horizen ecosystem.
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Ajayi OlusholaExplore 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
Spot the Main Event:
Horizen 2.0 surge with 1. Draft release of whitepaper 2. #zkVerify + #Horizen = Next-Level Blockchain Efficiency talk 3. passing of ZenIP 42406, the Horizen ecosystem is set to transform/transict to Horizen 2.0, following the vision of Horizen as a home for ZK and enhanced utility for $ZEN!
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Abifarin TemitayoExplore 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
Spot the Main Event:
Their transformative upgrade to Horizen 2.0 is full steam ahead since the community voted in favor of the Zenlp 42406, which proposes a roadmap for the upgrade of $ZEN and EON.
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Overview
Horizen is a blockchain ecosystem focused on privacy, scalability, and interoperability. Leveraging zeroknowledge proofs (zkSNARKs) and a unique sidechain architecture, Horizen aims to provide a secure and scalable platform for decentralized applications (dApps). The project stands out with its extensive node infrastructure and innovative solutions like Zendoo, which supports the creation of both public and private blockchains.
Key Features
Technological Innovations
Zendoo Protocol: Enables blockchain interoperability using SNARKverification, supporting up to 10,000 sidechains with a throughput limit of 10,000,000 TPS. Horizen EON: An EVMcompatible smart contracting platform that allows developers to build and deploy dApps while benefiting from the Ethereum ecosystem. ZeroKnowledge Proofs (zkSNARKs): Enhances privacy by allowing users to prove possession of information without revealing the details.
Use Cases
Customizable Sidechains: Developers can create custom sidechains with specific functionalities tailored to their needs. DeFi Integrations: Projects like SpookySwap, Ascent Exchange, and Yuzu have integrated into the Horizen ecosystem. Secure Nodes (Zen Nodes): These nodes secure the network and offer additional features like private messaging and decentralized storage.
Recent Developments
Horizen EON Launch: The launch of Horizen EON, an EVMcompatible sidechain, has enabled several DeFi projects to integrate into the ecosystem. ZenIP 42406: Adoption of this proposal drives the transformative upgrade to Horizen 2.0, migrating the $ZEN ecosystem to a new EVMcompatible parachain. Binance Monitoring Tag Removal: Binance has removed the monitoring tag for $ZEN, recognizing its strong performance and stability. Partnerships: New partnerships, including with StakedTokens, to enable $ZEN users to participate in the Ethereumbased DeFi ecosystem.
Market Impact
Increased Adoption: The launch of Horizen EON and new partnerships are likely to drive user adoption and increase demand for $ZEN. Enhanced Scalability and Flexibility: The migration to an EVMcompatible parachain and the deprecation of the PoW mainchain will enhance the network's scalability and flexibility. Positive Market Perception: Removal of the Binance monitoring tag and successful integrations with DeFi projects contribute to a positive market outlook.
Risks and Opportunities
Risks
Security Concerns: The rise in scam attempts within the community highlights the need for robust security measures. Technical Challenges: The transition to Horizen 2.0 and the migration to a new parachain may pose technical challenges.
Opportunities
Increased Incentives: Repurposing 60% of future ZEN block rewards to incentivize activities beyond PoW mining. Developer Empowerment: The availability of various SDKs and the EVMcompatible platform provide significant opportunities for developers to innovate.
Community Engagement
Active Community: Horizen has a large and active community across platforms like Telegram, Discord, and Twitter. Engagement Strategies: Regular updates, security guides, and community votes (e.g., ZenIP 42406) keep the community engaged and informed. Events and Conferences: Participation in events like ETHcc to discuss the Horizen ecosystem.
Conclusion
Horizen presents a compelling investment opportunity with its focus on privacy, scalability, and interoperability. The recent developments, including the launch of Horizen EON and the adoption of ZenIP 42406, position the project for significant growth. Traders should consider the project's innovative approach, strong community support, and positive market perception when making investment decisions.
Considerations for Traders: Innovative Technology: Horizen's zeroknowledge proofs and sidechain architecture offer unique advantages. Market Position: Removal of the Binance monitoring tag and successful DeFi integrations enhance market confidence. Community Support: A large and active community provides a strong support base for sustained growth.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.