Good day readers!
As we said in the first article of our series, Midas has officially rebranded and reformed the Masternode Index into the Masternode Yield Automated Portfolio (MN YAP)! The transition to this new model includes three new Masternode projects, all of which are well established and have been around for many years. These include NRG, XZC and ZEN, in addition to the quality projects we already had! In this series of articles, we are going to look at the projects included in the YAP and what makes them special. Today we will be discussing Horizen (ZEN).
Introduction to ZEN
Horizen began in 2017 as ZenCash, which was a fork of ZClassic. The fork occurred at block 110,000 of ZCL, and all users had to do to receive their ZEN was to import their ZCL private keys into the new ZEN wallet. As a zerocoin-protocol based coin, ZEN began as a privacy based coin but has since evolved into much more. Horizen now operates with side-chains and has built a technology platform for the purpose of building a rich ecosystem for freedom and utility. The goal is to be a “massively scalable general-purpose blockchain system.”
Horizen’s scalable platform empowers businesses to quickly create their own blockchains and get involved in the industry. Horizen’s SDK provides businesses with everything they need to create their own blockchain and blockchain applications quickly and easily.
Sidechain Use Cases
Horizen’s side chains will allow users to build their own:
- Tokens and tokenized assets
- Privacy-centric blockchain applications
- Smart contracts
- Stablecoins
As the recent DeFi boom has proven, there is a great pent-up demand for these use cases.
Sphere by Horizen
Sphere is Horizen’s flagship app, and is a desktop-based wallet that enables private transactions and encrypted messaging. In an upcoming release of Sphere, users will be able to track and manage their ZEN nodes, and will support even more currencies than it does already. It will also feature human-readable wallet addresses.
Self-Funded Development
ZEN never conducted an ICO, and is a community-governed and managed project. As a result, 20% of the block reward goes to the Horizen treasury, and ZEN owners are able to vote on treasury fund allocation. This allows Horizen to be completely independent and enables limitless potential and continual growth.
Multi-Tiered Nodes
Horizen boasts the largest masternode network in the industry, and its low investment required to run a node makes this passive income opportunity accessible to investors of all means. There are currently over 40,892 active nodes operating!
The Horizen node structure is actually a tiered one, with collateral requirements of 42 or 500, respectively. You can use a third party provider to run your own dedicated node, or use a shared custodial platform such as Midas.Investments.
Coin Specifications
Algorithm: Equihash
Total Supply: 21M (21,000,000) ZEN
PoW block reward: 12.5 ZEN
Block Time: 2.5 minutes
Reward Halving: ~4 years, like Bitcoin
Reward Allocation:
- 10% Secure Nodes
- 10% Super Nodes
- 60% Miners
- 20% Treasury
Links
Use the following links to learn more about Horizen
Masternode Yield Automated Portfolio
The best Masternode coins portfolio boosted by outperforming long-term strategy and paying 21% APY each Monday
