$ZEN
As of January 2026, Horizen (ZEN) has evolved from its origins as a privacy-focused "fork" of Zcash into a sophisticated modular privacy layer for Web3. It is currently positioned as a bridge between high-confidentiality technology and mainstream decentralized finance (DeFi).
1. The Core Identity: From Privacy to Utility
Originally launched as ZenCash in 2017, the project rebranded to Horizen to reflect a broader mission. While it still utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) for transaction privacy, its modern focus is on scalability and interoperability.
Zendoo: This is Horizen’s unique sidechain protocol that allows developers to build custom, independent blockchains (sidechains) that communicate back to the main ZEN network.
EON & Base Migration: A major milestone was the launch of Horizen EON, an EVM-compatible smart contract platform. More recently, ZEN has expanded its reach by migrating/bridging as an ERC-20 token on Base (Coinbase’s Layer 2), significantly increasing its liquidity and DeFi integration.
2. Tokenomics and Utility
The ZEN token has a strict supply cap, mirroring Bitcoin's scarcity model, which is a key driver for long-term holders.
Max Supply: 21,000,000 ZEN (fixed).
Circulating Supply: Approximately 17.7 million (~84% of total supply).
Node Incentives: Horizen operates one of the largest node networks in the industry. Users stake ZEN to run Secure Nodes (requiring 42 ZEN) or Super Nodes (requiring 500 ZEN), which secure the sidechain ecosystem and earn rewards.
Governance: ZEN holders participate in the Horizen DAO, voting on "ZenIPs" (Improvement Proposals) to direct the project's treasury and technical roadmap.
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