Horizen is a privacy cryptocurrency that was formerly ZenCash.
Horizen (ZEN), formerly ZenCash (which was a fork from ZClassic), is a cryptocurrency with optional privacy privacy cryptocurrencyfeatures that officially launched on May 23, 2017 and was founded by RonRob Vigilione and WilliamRolf WolfVersluis. Horizen is an ecosystem where users are rewarded for their contributions. Horizen’s platform enables businesses and developers to create their own public or private blockchains utilizing Horizon's node network. Horizen’s Sidechain SDK provides components for deployment of a customizable blockchain.
Horizen's native cryptocurrency, ZEN, is a mineable PoW coin currently trading on exchanges including Bittrex, Binance, and Changelly. ZEN is integrated on major wallets including Horizen's flagship app, Sphere by Horizen, a multifunctionalmulti-functional wallet that serves as an interface with most Horizen products and services.
Horzien uses a the Proof-of-Work (PoW) Equihash hashing algorithm that was created by Alex Biryukov and Dmitry Khovratovich at the University of Luxembourg. It has a block reward of 12.5 ZEN, a block generation time of 2.5 minutes, and a block size of 2 MB. The division of each Horizen PoW block reward and transaction fees are distributed using the following rules: 8860% to miners, 5 20% to one or more DOAstreasury, 3.510% to secure node operators, and 3.510% to thesuper corenode teamoperators.
Funding for the development of Horizen is generated by miners. 20% of block rewards goes into the Horizen treasury.
Horizen did not have an ICO.