What currency is ZEN? What does ZEN coin mean?

Horizen's ZEN cryptocurrency prioritizes privacy, allowing users to engage in transactions without their identities becoming known, a characteristic drawn from the Buddhist school of mindfulness and introspection known as Zen.

Oct 11, 2024 at 09:18 am

1. What is ZEN Currency?

ZEN is the native cryptocurrency of Horizen, a privacy-focused blockchain platform. It is a decentralized, open-source cryptocurrency that allows users to send and receive transactions without revealing their identities.

2. ZEN Coin Meaning

The name "ZEN" is derived from the concept of Zen, a Japanese school of Buddhism that emphasizes mindfulness, self-control, and insight. The Horizen team chose this name to reflect the privacy and anonymity features of their platform.

3. Horizen Platform

Horizen operates on a multi-chain architecture, consisting of three distinct blockchains:

• Mainchain: The main blockchain that secures the network and handles transactions.
• Sidechains: Customizable blockchains that businesses and individuals can create for specific use cases.
• ZenGate: A bridge chain that facilitates interoperability between Horizen and other blockchains like Bitcoin and Ethereum.

4. ZEN Use Cases

ZEN serves various use cases within the Horizen ecosystem, including:

• Privacy Transactions: ZEN can be used for transactions that do not reveal the sender's or receiver's identity.
• Sidechain Creation: ZEN is used to pay fees for creating and operating sidechains on the Horizen platform.
• ZenGate Interoperability: ZEN is the medium of exchange for bridging assets between Horizen and other blockchains.
• Rewards: ZEN holders receive rewards for participating in the network as staking nodes.