About Horizen (ZEN)
Horizen is a blockchain network built to support smart contracts and decentralized applications. It is compatible with the Ethereum Virtual Machine (EVM) and makes use of zero-knowledge (ZK) technology to enhance privacy, scalability, and security. The platform launched in 2017 and operates under the governance of a decentralized autonomous organization.
Horizen introduced a new phase with Horizen 2.0, which includes a specialized EVM-based blockchain linked with a proof verification system called zkVerify. This system is designed to lower the cost and complexity of verifying proofs and helps developers build applications that protect user privacy across various sectors, including finance, healthcare, gaming, and identity systems.
The network runs on its own Layer 1 blockchain, which integrates cryptographic features to support secure and efficient dApp development. With EVM compatibility, Horizen allows developers to access different proof systems without relying on external blockchains. The zkVerify connection improves application performance by reducing latency and simplifying verification processes.
To support these functionalities, Horizen includes precompiled contracts. These are built-in tools that assist with verifying zero-knowledge proofs. They work with several proof systems such as Groth16, Plonk, Fflonk, and UltraPlonk. These contracts help developers avoid the need for creating custom verification logic, which streamlines development and improves consistency.
The platform is built using the Substrate framework. Its architecture includes a core client that handles communication and consensus, and a WebAssembly (Wasm) runtime that processes changes to the network state. This structure allows for flexibility and scalability in how applications are deployed and managed.
Horizen supports several practical use cases. It can be used to validate user identities without sharing private data, enable private transactions in financial systems, power secure features in gaming environments, and handle medical data in compliance with privacy regulations. It also supports machine learning processes that require secure, verifiable computations and helps manage private supply chain operations.
The native token of the Horizen network is ZEN. It serves multiple roles in the ecosystem, including paying transaction fees, enabling staking, and participating in network operations. ZEN has a capped supply of 21 million coins, similar to the Bitcoin model.
In addition to its technical utility, ZEN also plays a role in governance. Token holders can submit proposals and vote on network decisions through the DAO’s governance process, giving them influence over the future development of the platform.
ZEN is listed on Binance for trade and purchase. The current price of ZEN is available and updated in real-time on Binance.