Horizen (formerly ZenCash) is a privacy-optional, Proof of Work blockchain that evolved from a ZCash fork into a comprehensive Layer 0 sidechain platform — enabling developers to deploy unlimited EVM-compatible sidechains secured by Horizen’s main chain via a cross-chain transfer protocol and ZK proof verification. While its original identity was as a privacy coin competitor to Zcash and Monero, Horizen pivoted dramatically in 2020–2022 to become an infrastructure layer for scalable sidechain deployment, releasing the Zendoo sidechain SDK and later Horizen EON — a fully EVM-compatible sidechain supporting Solidity smart contracts. ZEN is used to pay transaction fees on Horizen’s mainchain and EON, to run supernodes and secure nodes, and as gas on EON. Horizen’s 21M coin cap mirrors Bitcoin’s, and its node reward system is notably structured, distributing block rewards across miners, secure nodes, and supernodes simultaneously.
| Stat | Value |
|---|---|
| Ticker | ZEN |
| Price | $5.77 |
| Market Cap | $103.54M |
| 24h Change | +1.5% |
| Circulating Supply | 17.95M ZEN |
| Max Supply | 21.00M ZEN |
| All-Time High | $165.92 |
| Contract (Base) | 0xf43e...9229 |
| Contract (Horizen) | 0x57da...9280 |
How It Works
Proof of Work (Equihash):
Horizen uses the Equihash algorithm (shared with Zcash), designed to be memory-hard and historically ASIC-resistant, enabling GPU mining. Block time is ~2.5 minutes.
Three-way block reward split:
- Miners — 60% of block reward
- Secure Nodes — 10% (lightweight nodes that run behind TLS, ~42 ZEN stake)
- Super Nodes — 10% (higher-capacity nodes for sidechain anchoring, ~500 ZEN stake)
- Horizen DAO treasury — 20% (for ecosystem development)
Zendoo sidechain protocol:
Zendoo allows any developer to launch an independent blockchain (sidechain) that:
- Defines its own consensus, block time, and application logic
- Anchors state proofs to the Horizen mainchain using ZK-SNARKs
- Inherits mainchain finality and cross-chain ZEN transfer capability
Horizen EON:
EON is Horizen’s own EVM-compatible sidechain — a developer-ready, Solidity-compatible smart contract environment linked to the Horizen mainchain, functioning similarly to how Polygon is to Ethereum.
Privacy (optional shielded transactions):
Horizen inherited Zcash’s shielded transaction technology. ZEN transfers can be fully shielded (sender, receiver, and amount hidden using zk-SNARKs) or transparent.
Tokenomics
| Metric | Value |
|---|---|
| Max Supply | 21,000,000 ZEN |
| Block reward | ~3.75 ZEN/block (halving every 840,000 blocks) |
| Miners | 60% of block reward |
| Secure Nodes | 10% |
| Super Nodes | 10% |
| DAO treasury | 20% |
Use Cases
- Gas — ZEN pays fees on Horizen mainchain and EON sidechain
- Node staking — Stake ZEN to operate Secure Nodes (~42 ZEN) or Super Nodes (~500 ZEN)
- Sidechain anchoring — ZEN deposited to mainchain as security for Zendoo sidechain transfers
- Privacy transfers — Optional shielded transactions for private ZEN transfers
History
- May 2017 — ZenCash forks from ZClassic (a Zcash fork); privacy coin with node reward system
- 2018 — ZenCash rebrands to Horizen; shifts from pure privacy coin toward platform ambitions
- Jun 2018 — ZenCash suffers a 51% attack; upgrades implemented in response
- 2020 — Zendoo sidechain SDK announced; paradigm shift from L1 chain to sidechain platform
- 2021 — Horizen DAO formed; community governance established
- 2022 — Horizen EON EVM sidechain testnet launches
- 2023 — EON mainnet live; multiple DeFi and NFT projects deploy on EON
- 2024 — Continued development of ZK proof verification for sidechain anchoring
Common Misconceptions
“Horizen is just a Zcash fork.” While ZEN began as a ZCash fork, Horizen’s architecture diverged significantly: the multi-node reward structure, Zendoo sidechain protocol, and EON EVM environment are entirely novel developments with no parallel in Zcash.
“Privacy features mean ZEN is used for illicit activity.” ZEN’s privacy features are optional, identical in technology to Zcash’s shielded transactions, which are widely accepted in regulated contexts. The majority of ZEN transactions on-chain use transparent addresses.