Review on Horizen by Ayu Anggraini
Horizen platform review
Today I will review one of the blockchain projects which are forks of zclassic.
The ZenCash (ZEN) network is launched in May 23rd 2017 as a hard fork from Zclassic (ZCL), and ZClassic is a fork of privacy-focused ZCash (ZEC).
When Zencash is launched, ZEN was issued to ZCL holders at a 1: 1 ratio, So actually ZenCash (ZEN) is a forked from a fork, its not launched by an ICO or IEO.
Zencash rebrands to Horizen in 2018. A name that is considered by its CEO to symbolize the platform's capabilities, goals and vision.
Horizen still uses the same ticker symbol: $ ZEN and this symbolizes it as a native crypto currency from the horizen platform.
So what is Horizen / ZEN?
Horizen platform is a decentralized platform that has massive scalability which let anyone to make private or public blockchain, making decentralized applications that have a privacy focus and anonymity (Dapps) And it is a capable platform that will host secure transactions, publishing and messaging.
Horizen implements blockDAG protocols, side chains and a DAO based treasury system (on chain treasury voting system) on their platforms to create a healthy governance system and helps achieve the horizen goal in creating a good ecosystem for blockchain developers and community on its platform.
In addition, the Horizen team also has Cardano (ADA) Founder Charles Hoskinson of IOHK as an advisor.
At the time of this review, Zen is currently ranked 94th in the coin marketcap and has a volume of $ 5,508,365 USD in the last 24 hours. There are several ZEN features, namely Zen Dao, Zen chat, Zen mine, use Zen and Zen faucet. What I like the most is the Zen faucet because giving Zen for free, for example by becoming a Zen holder, we will get more free Zen every day and increase our daily earning.
Pros
- After the rebrand, the team has been continuously making Technological improvement
- The biggest allocation is reserved for community
- Active team and developer
Cons
- Currently the platform is still under development
- Horizen or ZenCash has been hit by a “51" percent attack with 3times of double spend
- major risk of using their blockchain is to get exposed into future attack
- Horizen is susceptible to this type of attack
