#ZEN Coin not worth putting money on?
What you need to know before putting in your money on ZEN, especially as ZEN market is pumping right now, and why its market is gaining an upwards trend.
ZEN coin is the token of Horizen, a network of blockchains that enables interoperability and scalability. ZEN coin has increased by almost 50% in the past week, because of:
- Listing on Coinbase: On September 15, 2023, #Coinbase and Coinbase Pro announced that they were adding support for ZEN coin on their platforms. Being listed on Coinbase means that ZEN coin can reach a larger market and gain more liquidity and exposure. Coinbase also has a reputation for being selective and compliant, which adds credibility and trust to ZEN coin.
- Launching Horizen EON: In October 2023, Horizen launched Horizen EON, a smart contracting platform that runs on a public proof-of-stake sidechain of Horizen. Horizen EON is compatible with Ethereum, the leading smart contract platform, which means that developers can easily build and deploy decentralized applications (dapps) on Horizen EON, while leveraging the existing tools and resources of the Ethereum ecosystem. Horizen EON also offers scalability, security, and decentralization, which are essential for dapps.
- Deprecating the mainchain shielded pools: In September 2023, Horizen implemented ZenIP 42204, a proposal that aimed to make ZEN coin more adaptable and compliant with the regulatory environment. By shedding the privacy coin label, $ZEN coin became more accessible and acceptable to exchanges, regulators, and investors, who may have been wary of the legal and reputational risks associated with privacy coins.
ZEN coin has a lot of potential to grow further, as Horizen continues to improve its network, expand its ecosystem, and grow its community. ZEN coin is a coin to watch and invest in, as it offers a unique value proposition and a promising outlook.
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