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When was ZEN coin issued? Learn about the origin of ZEN coin in one article
ZEN coin, the native cryptocurrency of the Horizen ecosystem, emerged in 2017 as a privacy-focused alternative to Bitcoin, deriving its name "ZEN" from the concept of pinnacle achievement.
Oct 19, 2024 at 08:11 pm
Navigating the Origin of ZEN Coin: A Comprehensive Guide
1. Birth of ZEN Coin
- ZEN coin was conceived as a digital currency under the Horizen ecosystem in 2017.
- It was officially launched on May 28, 2018, as an alternative to Bitcoin.
2. Horizen Ecosystem
- Horizen is a decentralized blockchain platform that focuses on privacy and security.
- ZEN coin is the native cryptocurrency of the Horizen ecosystem.
3. Origin of the Name
- The name "ZEN" is inspired by the concept of "zenith," representing a point of highest excellence or achievement.
- It reflects the Horizen team's goal of creating a technologically advanced and secure blockchain ecosystem.
4. Purpose of ZEN Coin
ZEN coin serves as a:
- Medium of exchange for transactions within the Horizen network.
- Stake reward for securing the network.
- Governance token for voting on protocol improvements.
5. Distribution
- The total supply of ZEN coins is 21 million.
- 80% was distributed through a public mining process.
- 10% was allocated to the Horizen team for ecosystem development.
- 10% was allocated to early investors and contributors.
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