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Horizen (previously ZenCash) is a privacy conscious coin that is a fork of ZClassic. ZClassic is itself a fork of ZCash which is a well-known privacy cryptocurrency. Because Horizen is a descendant of ZCash, it has all of the same privacy enhancing features including zk-snarks. This means that the transactions can be verified without exposing private keys to the public blockchain.
Horizen also excludes one of the more contentious points about Zcash and that is the founder’s tax. Horizen has a "secure node" operators. One can think of these as an equivalent of masternodes and staking. They will help to maintain the Horizen blockchain. These secure nodes require a total of 42 ZEN to stake.
Horizen uses the same hashing algorithm as ZCash (equihash) which means that miners who are mining ZCash can switch between the two. The total supply of ZEN tokens is capped at 21m and the block time is 2.5 minutes (quarter of Bitcoin's). Other technology on the Horizen network includes ZenChat, ZenPub and ZenHide.
For future development, the Horizen team is also looking to develop a Decentralised Autonomous Organisation (DAO). This will help to make important governance decisions on the ZenCash network.
ZEN tokens hit the market not long after the fork and they have been quite volatile recently. They fell considerably in the wake of a 51% attack. They are listed on a number of exchanges and have a reasonable amount of liquidity.
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