Horizen
ZENWith a complete focus on privacy, Horizen, formerly known as Zencash, has now become the blockchain of blockchains. Unlike Bitcoin and Ethereum which are blockchains fueled by their cryptocurrencies, Horizen allows users to create their own blockchains on its network.
It’s not just a platform, but an ecosystem at its core. Individuals and companies can build blockchains, transact every day, develop and deploy decentralized applications, send and receive messages, and do much more. You landed on the right page if you found your way to this article asking yourself, “What is Horizen coin?”.
With features like shielded transactions and many privacy tools, the ZEN coin is rightly known as a privacy coin.
Horizen Exchange Rate
ZENHorizen – Origin and Overview
Horizen (ZEN) is a privacy-focused cryptocurrency and the first-ever crypto to implement complete end-to-end encryption that protects all communications within nodes. It’s built on the back of a multi-tiered nodal architecture and is referred to as a privacy platform by its users.
Known as Zencash, this cryptocurrency project was launched in 2017. It utilizes zk-SNARKs to maintain high-security and optional privacy options which are based on Zero-Knowledge Proofs. rebranded from ZenCash to its current name in 2018 when it made significant leaps in terms of the technologies that it implemented.
While it has many impressive features, sidechains stand out the most. This is a model and development mechanism wherein users can create their blockchains as a subset or extension of the ZEN blockchain. They may then use this newly developed blockchain to power their crypto tokens, or publish dApps, create and implement smart contracts, etc.
The ZEN coin is one of the many aspects of the blockchain’s major network. Others include:
- A fully decentralized organization that’s autonomous and ever-growing.
- ZenChat – a private messenger. ZEN crypto coin and blockchain users may sign up for the chat platform and chat with each other. Only registered, verified users of the blockchain network can use this feature.
- Sphere by Horizen – a full suite application that acts as a multi-functional wallet
Major Advantages of Horizen
Scalability
This is a revolutionary development that allows blockchains to branch from the primary Horizen crypto blockchain. Each sidechain must follow the CCTP (Cross-Chain Transfer Protocol) which is why sidechains can communicate with the parent blockchain.
Having said that, sidechains are completely independent entities, and developers are free to create their nodes, choose their consensus protocols and parameters. The configurations are completely the choice of the developers and hence provide great flexibility in terms of the types of Dapps that can be published on the blockchain. This is possible due to the implementation of a decoupled consensus.
Sidechain SDK
This is specially created for sidechain developers, but you need to realize that this isn’t just another software development kit. Sidechain developers are required to develop and implement the consensus and network layers, build their wallets, and then develop Dapps or write smart contracts that are needed.
The SDK eases the entire Horizen crypto experience, doing most of this work for you so you can focus on building your application instead of building and deploying layers and wallets.
Miscellaneous Advantages
- With over 40,000 active nodes distributed across more than 55 countries, this is one of the largest nodal networks in the world.
- You can contribute to the development of this open-sourced project through Horizen Developer Environment (HDE) and the Horizen Early Adopter Program (HEAP). These programs can be used to learn, develop, and test various innovations on the network or the ZEN coin. HDE even offers rewards when developers complete certain tasks.
- Transactions are highly confidential and secure
- They share their knowledge and love for cryptocurrencies through a self-funded educational project known as the Horizen Academy.
- An ambassador program that incentivizes participation from the community.
Why Choose Swapzone for ZEN Exchange?
Swapzone is an easy-to-use, reliable exchange aggregator, and a great find if you’re wondering which ZEN exchange is ideal for you. It’s one of the more secure, affordable crypto-to-crypto trading platforms out there. Some unique features of Swapzone are:
- Over 15+ exchange features and a completely non-custodial platform.
- VPN use allowed – secure your privacy whilst buying a ZEN coin.
- Auto-aggregator to assist you with rate comparisons.
- Simple trading and buying process – just a few clicks on a super intuitive UI and you’re done.
- Highly responsive 24/7 customer support through emails and chat.
- You can filter offers based on the current or required ZEN exchange rates, ETA, customer rating, etc.
- You can choose between fixed and floating offers – pick what’s best for you and purchase your first-ever ZEN crypto coin easily.
- Choose from a seemingly never-ending list of cryptocurrencies – the platform supports more than 1000 tokens!
Final Word
Is it worth investing in a privacy token? Definitely yes. Will it guarantee returns or safety? Nobody can. The point is, as of today, the ZEN coin is surely an interesting choice. The reason is that privacy is of the utmost importance now more than ever. According to a study by US-based security services provider Norton, Crypto-jacking has become a common method to add your computer to assist in their crypto stealing exploits through mining.
Privacy is already a talking point among users, and companies that violate privacy policies are being shunned by their consumers. With this set to continue, privacy is set to become a huge factor in the coming years, and this could see a potential rise in demand for privacy tokens as well.
Frequently asked questions
What is the Horizen exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store Horizen?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
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