About Horizen (ZEN)
Horizen (ZEN) is the most secure interoperable blockchain ecosystem supported Horizen’s sidechain platform focuses on scalable data privacy and enables businesses and developers to custom build their own public or private blockchains using its unique sidechain technology, Zendoo. Ensuring data integrity and privacy freedom by enabling real-world use cases with the most secure interoperable blockchain ecosystem.
Horizen (ZEN) they seek to empower people and bring the world together through technology and economic incentives to generate a robust and sustainable ecosystem. Horizen strives to push technological boundaries and bring new products and services to those who need them most. Horizen’s culture is research-driven, and they believe in the development of open source technology. Their R&D and Engineering teams are building an open, permissionless and multipurpose blockchain platform that will help make the world a better place.
Horizen (ZEN) Below is the original whitepaper along with the updated Application Platform paper and the project-specific contributions to the Distributed Ledger Technology industry.
Horizen (ZEN) Storage Key Points
|Circulating Supply||11,153,156.25 ZEN|
|Source Code||Click Here To View source code|
|Explorers||Click Here To View Explorers|
|Chat||Click Here To Visit|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Transparency and Fairness
Horizen goal is to decentralize the decision-making processes for resource allocation and other substantive changes to the system. The Horizen Improvement Proposal System (ZenIP) standardizes the process for suggesting major changes to the Horizen codebase and protocols. This is a key element of transparent, collaborative, and stable governance. Bringing other organizations into the ecosystem, extending decision-making authority to collaborative processes, like ZenIPs, and ultimately implementing a democratic system where every ZEN holder is a voter.
Technology The system architecture is designed to allow a modular protocol, stressing functionality over design choice. This framework has at its core a simple ”truth engine” that adjudicates any type of consensus conforming to the CCTP, and all application-specific functions are meant to be deployed on sidechains whose consensus is entirely decoupled from the core. In effect, what this means is that any type of rules can be deployed as a sidechain–whether blockchain or some other type of computing system-and the mainchain function is purely to check whether such rules have been followed and to provide a common token of value. This modularization of function permits massive scalability, freedom in application design, and evolutionary flexibility such that any component can be changed over time so long as the interfaces conform to standards.
Horizen mainchain is currently a Bitcoin-like blockchain with Equihash Proof-of-Work (PoW) augmented with a delayed block penalty algorithm for additional protection against malicious chain reorganization. Their objective with the mainchain is to strip its complexity to the minimum required to operate the sidechain system, while maximizing security and providing a universal token of value throughout the ecosystem (ZEN). All additional functions and blockchain application features are meant to reside in sidechains designed specifically for those purposes
Delayed Block Penalty
Their engineering team has improved the original Nakamoto Consensus (Nakamoto, 2008) algorithm by creating a penalty mechanism to punish malicious miners. This solution can protect all Proof-of-Work coins from malicious block reorganization, or 51% attack, that use the Bitcoin consensus. It is based on a penalty mechanism for delayed block submission. The penalty affects forks originated by miners that try to mine blocks in private and later inject them into the chain. Malicious forks are penalized based on block height.
There is a wide range of valuable uses of conditional scripting, or ”smart contracting”, in blockchain applications. These classes of scripting tools, either partial or Turing complete, have thus far been integrated into the core of blockchain platforms in a fashion that necessitates a single and exclusive design decision. Including extensive scripting at the core of a protocol opens a wide range of possibilities, but also introduces a broad threat surface.
Secure Nodes and Super Nodes
Horizen goal with setting minimum requirements is to ensure that Horizen’s node network is sufficiently capable of running a robust ecosystem of sidechains and the valuable applications that will reside on them. In this sense, they require skin in the game (staked ZEN), availability, computational, and storage minimums. A basic overview of the requirements for each node class is provided in Table 3.
Horizen’s ecosystem is a broad collection of stakeholders, including the Zen Blockchain Foundation (ZBF), the Horizen Community Council (HCC), an open-source developer community organized into a curated and compensated Developer Environment (HDE), a free educational resource called Academy, various corporate and academic partners, miners, node operators, and end-users. The ecosystem is perpetually shifting as new stakeholders join and others grow their involvement.