Current Overview of Horizen (ZEN) Price
Understanding the Horizen Blockchain Network
Horizen stands out as a pioneering zero-knowledge blockchain network, bolstered by one of the most robust node infrastructures in the industry. At its core is the Zendoo protocol, which utilizes SNARK-based verification to deliver unparalleled flexibility regarding sidechain configuration, consensus mechanisms, speed, and privacy. This innovative approach supports blockchain interoperability, allowing seamless interaction between various chains.
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Scalability and Sidechain Capabilities
The architecture of Horizen offers exceptional scalability, with the potential to support up to 10,000 interconnected side chains, each capable of processing up to 10,000,000 transactions per second (TPS). This transforms Horizen into a fully permissionless blockchain network. Developers are empowered to deploy their custom blockchains using various Software Development Kits (SDKs) within this versatile ecosystem.
SDKs and Ouroboros Proof-of-Stake Algorithm
The initial SDK offerings, Blaze and Latus, enable the creation of blockchains anchored to IOHK’s secure Ouroboros proof-of-stake algorithm. Blaze facilitates the development of high-speed chains that can appoint their own certifiers, achieving speeds of up to 1,000 TPS. On the other hand, Latus emphasizes complete decentralization through recursive SNARK composition. Upcoming SDK releases are set to introduce Ethereum Virtual Machine (EVM) support, enhancing compatibility with Ethereum smart contracts.
ZEN: The Native Cryptocurrency
The native digital currency of Horizen, known as ZEN, is mineable and follows a proof-of-work model. It is actively traded on major cryptocurrency exchanges such as Coinbase, Bittrex, and Binance. The project was co-founded by Rob Viglione and Rolf Versluis, with Dr. Rob Viglione serving as the CEO and team leader for both the Zen Blockchain Foundation and Horizen Labs. Rolf Versluis, a co-founder, also serves as an executive advisor to the Zen Blockchain Foundation.
For those interested in staying updated on Horizen’s price predictions and market trends, consider downloading the leading cryptocurrency application, CoinGabbar, today!
Further Reading
Also read: Zelwin ZLW Price USD
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