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What is Horizen?
Launched in 2017, Horizen is a customizable, decentralized sidechain protocol. The Horizen sidechain platform allows businesses and developers to quickly and affordably create blockchain applications leveraging Horizen’s fully distributed, secure architecture. It also encourages token mining and node hosting to encourage ecosystem adoption.
Using the Equihash (200-9) algorithm, users can mine the Horizen token, ZEN, through a proof-of-work protocol. Users can also purchase ZEN on most crypto exchanges. Additionally, Horizen incentivizes ZEN shareholders with block rewards: sixty percent to miners, twenty percent to the treasury, and twenty percent to nodes. And users can get free ZEN every twenty hours from the Horizen Faucet, a rewards feature that makes it easy for beginners to get into cryptocurrency.
Designed to overcome blockchain scalability and extensibility limitations, sidechains are a parallel platform that supplements the mainchain’s capabilities without the extra burden. Horizen’s Sidechain Protocol, zendoo, is a sidechain software developer kit that enables both public and private scalable, customizable blockchains for commercial applications.
The largest incentivized node network, ZENNodes, is a multi-tiered node system where each geographically dispersed node is paid for supporting the network. Node operators get ten percent of the total block subsidy rewards. The massive node network increases the Horizen platform’s scalability, reliability, and speed.
The Horizen platform is committed to creating a sustainable ecosystem through the sidechain protocol enabled developer toolkit, ZEN mining, its node network, and a growing offering of decentralized apps, products, and services, all based on a decentralized governance model.
Horizen Market Price Ticker Chart
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Horizen Frequenty Asked Questions
Where does Horizen (ZEN) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Horizen currently ranks in position 90 out of the top 1000 cryptocurrencies. Another important factor in popularity is Horizen‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Horizen has a market cap of $ 633,992,298, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 938,978,659,952, Litecoin at $ 12,221,079,206, Ethereum at $ 186,858,098,045, Tether at $ 34,930,360,627, and XRP at $ 22,647,216,230.
What is the price of Horizen (ZEN) today (updated in realtime)?
The current price of Horizen is $ 58.14 in USD. (The price in Euros is 47,96 €; and the price in Bitcoin is Ƀ 0.00115300 BTC.)
How has Horizen (ZEN) performed recently?
Horizen‘s price has decreased in the last 24 hours by -5.03%. The change in price over the last seven days was -0.04%. The trading volume over the last 24 hours was $ 195,193,622. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Horizen‘s (ZEN) market supply?
The total circulating (available) supply of Horizen is 10,796,506 ZEN. The total supply of Horizen is 21,000,000 ZEN.
What is the 24 hour volume for Horizen (ZEN)?
The 24 hour volume of Horizen is $ 195,193,622.
What is Horizen (ZEN) official website?
Horizen‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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