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Review on Horizen by Ana A
HORIZEN
Horizen is a project that was previously called ZenCash, it is a decentralized currency. Horizen could be described as an incentive-based platform with privacy features, however this privacy is optional and seeks to provide people with control over their fingerprint. It seeks to be more than just a cryptocurrency, it has a visionary project where it contemplates: data, transactions, and competitive governance to measure its own profitability.
It has two types of transactions, the Sy and the T.
T transactions: These are traditional transactions recorded on the blockchain controlled by a private key in a wallet. These are Bitcoin derivatives and allow for quick compatibility with Bitcoin exchange centers, wallets and other ecosystem applications. It has become the first interaction and the first source of services requested by customers.
Z Transactions: These are transactions sent to the user's private addresses, inherited from Zcash and Zclassic. Balances at private addresses are invisible. If a transaction is made to one or more private addresses, with the agreement of both parties, the value remains private, but if the last address is transparent, the value received will be revealed in the blockchain.
Pros
- It is an incentive based platform
- control over your fingerprint
- share certain similarities with Bitcoin
Cons
- Your transactions are slow
- Its emphasis on security and privacy has caused the government of some countries to prohibit it for its suspicion of illegal acts.
