What is ZEN coin? What can ZEN coins do? How to store ZEN coins?

Horizen (ZEN) is a privacy-focused cryptocurrency based on the Zcash protocol, offering features like anonymous transactions, scalability through sidechains, and a decentralized governance model.

Oct 01, 2024 at 07:48 am

1. What is ZEN Coin?

Horizen (ZEN) coin is a proof-of-work (PoW) cryptocurrency based on the Zcash (ZEC) protocol. Horizen was created in 2017 as a fork of Zcash, offering additional features such as sidechains and a decentralized autonomous organization (DAO).

2. Features of ZEN Coins

ZEN coins provide several features:

• Privacy: ZEN transactions are private by default, using the Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) protocol to hide transaction amounts and addresses.
• Scalability: Horizen aims to improve scalability through sidechains, which enable the creation of separate blockchains connected to the main Horizen chain.
• Governance: Holders of ZEN coins can participate in the Horizen DAO through the Horizen Governance Platform, allowing them to vote on funding proposals and development decisions.

3. How to Store ZEN Coins

ZEN coins can be stored in the following ways:

• Horizen Wallets: The official Horizen wallet, available for desktop, mobile, and web, supports secure storage of ZEN coins.
• Hardware Wallets: ZEN coins can be stored on hardware wallets such as Ledger and Trezor, which provide offline storage and enhanced security.
• Exchange Wallets: Some cryptocurrency exchanges, such as Binance and Coinbase, also offer ZEN coin storage.

Additional Information

• Horizen has a total supply of 21 million ZEN coins.
• The ZEN block reward is 12.5 ZEN per block, with a block time of 2.5 minutes.
• Horizen's technical development is led by the Horizen Lab, a team of cryptocurrency enthusiasts and developers.
• The Horizen community is active in online forums and social media platforms, providing support and discussing the project's progress.