What is ZEN
What is ZEN?
The Horizen project (ZEN) was launched in 2017. The developers wanted to create a universal platform where users could conduct transactions and remain anonymous at the same time. ZEN is the internal cryptocurrency of the platform.
According to the algorithm, 88% of the mined coins go to miners, and the rest is distributed to maintain the nodes, pay for the work of developers and provide new developments.
- The creators focus on the development of communications between users within the network.
- Exchange and publications’ security between participants.
The platform is focused on protecting users from personal data leakage, abandoning the centralized method of managing and maintaining the anonymity of all operations on the Horizen network. The site also cooperates with the IPFS platform to create the Internet of the future.
ZEN appeared on the exchanges on June 2, 2017, then its price was $9.08, and on January 10, 2018, the rate soared to $67.29. This was followed by a massive correction, and the rate fell down to $3. But at the end of 2020, the coin began to grow, and in May 2021, it set a new all-time high of $147. To find out the current price, use the trading terminal.
The issue of cryptocurrency anonymity became especially acute when it turned out that the Bitcoin network could not provide privacy. Moreover, it is a public ledger where anyone can trace transactions of all time.
As a result, new cryptocurrencies have begun to emerge with a focus on privacy and user data protection. With more and more investors and traders wishing to remain anonymous, the demand for projects such as this cryptocurrency is growing. There is high competition in the decentralized market, which creates difficult conditions for a future breakthrough in the development of the project.
In addition to anonymity, Horizen also offers users a kind of social network for interaction and cooperation, which distinguishes the project from its competitors.
Plans of the Horizon team:
- Horizen integration with OpenBazaar;
- voting system for users regarding decisions about projects and developments;
- release of an iOS wallet with voting functionality;
- further decentralization of the project;
- improvement of nodes to increase the level of security;
- increasing network scaling and developing the next-generation blockchain.
Even in a highly competitive environment, the project has every chance of success if the development team manages to implement all the plans. A competent approach to investing implies careful monitoring of the project’s development, its new partnership agreements, implemented innovations, and technologies – all of it determines the growth trends of the ZEN rate.
How to buy ZEN?
You can buy ZEN in your personal account on the WhiteBIT platform. Make sure you have enough funds on your balance and go to the Basic Trade page. Select the pair you need and create an order. Next, wait till it gets fulfilled.