Horizon (ZEN) is a layer zero (L0) blockchain platform that enables a zero-knowledge network of blockchains. The L0 blockchain has one of the largest node networks with a multi-tiered node system. The operators get 20% of the total block subsidy, while the dispersed node network provides an extensive infrastructure to operate an ecosystem of both applications and sidechains.
ZEN is the native cryptocurrency of Horizen. It has a maximum supply of 21 Million coins, of which just over 11 Billion are in circulation as of November 2021. The coin is an ASIC-mineable cryptocurrency that employs the Equihash algorithm. The key members of this L0 blockchain are Rob Viglione and Rolf Versluis.
Horizen (ZEN) Coin Price Analysis
According to CoinMarketCap data, a crypto price tracking platform, the price of Horizen (ZEN) is trading at $8.17 with a 24-hour trading volume of $1.90 Million. The coin is up 0.25% in the last 24 hours, with a current market cap of $112.37 Million. In the last 24-hours, the coin noted low at $8.08 and high at $8.21.
The all-time high that the coin has noted was in May 2021 when it traded at $168.15. On the other hand, the all-time low by the coin was in July 2017 when it dropped at the trading price of $3.09.
The Horizen Architecture
As per its official site, Horizen has a multi-tiered node network with more than 45K active nodes. This makes the L0 platform quite secure and resilient against malicious actors and power failures, as it added.
As a sidechain platform, it enables “an unbounded and fully decentralized sidechain ecosystem.” Meanwhile, sidechains provide blockchain scalability and extensibility by creating platform and application layers.
Last but not least, the dominance of the most traded cryptocurrency by market cap, Bitcoin (BTC) is currently 45.88%, a decrease of 0.07% over the day. The global crypto market cap is $1.15 Trillion, a 0.20% increase over the last day.
While the total crypto market volume over the last 24 hours is $25.00 Billion, which makes a 16.72% decrease. The total volume in decentralized finance (DeFi) is currently $2.11 Billion, 8.45% of the total crypto market 24-hour volume. The volume of all stable coins is now $22.74 Billion, which is 90.96% of the total crypto market 24-hour volume.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/06/03/horizen-zen-coin-the-trending-coin-in-the-crypto-market/