June 19, 2024

Horizen cryptocurrency developers (ZEN) introduced their own version of sidechains

The team of developers of the Horizen cryptocurrency, focused on increased user privacy, announcedthis week about launching the sidechain in alpha mode, which allows developers and companies to quickly and inexpensively create their own blockchains.

The project blog says the Horizen sidechain isthis is the first important milestone on the road to creating an environment with multiple applications, which will make it possible to realize in practice all the advantages of blockchain technology, including privacy and decentralization.

Horizen Side Chain Architecture Usesmodular protocol, which focuses on functionality. In particular, the solution makes it possible to deploy systems with any types of rules - be it blockchain or any other type of computing system.

“Such modularity provides tremendous scalability, application design freedom and flexibility in which any component, provided that the interface meets the standards, can be changed over time.”— write the developers.

The main Horizen network is used solely to verify compliance with these rules and provide a common value token.

At the same time, the Horizen team introduced a new white paper project called the “Blockchain Platform for Fully Customized Decentralized Applications”.

As noted in the accompanying message,Horizen is building a highly scalable, feature-rich blockchain system based on the Cross-Chain Transfer Protocol (CCTP) — a completely new protocol that makes it possible to launch an unlimited number of fully decentralized sidechain ecosystems.

Recall that earlier the Horizen project was known as ZenCash, changing its name to the current one as part of the rebranding in August 2018.

The native Horizen coin (ZEN), although today ranked 109th in the CoinMarketCap rating, is nevertheless included in Grary's Investments portfolio with Barry Silbert.