The $ZEN token is the native cryptocurrency of Horizen, a blockchain platform that focuses on privacy and scalability. Originally launched as ZenCash in 2017, Horizen aims to provide secure, scalable, and private decentralized applications , along with a focus on user privacy and blockchain interoperability.
Key features of $ZEN include:
Privacy and Security: Horizen leverages zk-SNARKs succinct non-interactive arguments of knowledge), a cryptographic technique to ensure transaction privacy, enabling private transactions on the blockchain without revealing the sender, receiver, or transaction amount.
Governance: $ZEN token holders can participate in the governance of the Horizen ecosystem. They vote on proposals for network upgrades, changes, and decisions that affect the protocol and its future direction.
Scalability: Horizen uses a sidechain architecture, allowing developers to build custom blockchains tailored for their specific use cases. This helps improve scalability