Why you should buy Zencash
In today’s world, data is everything. Every application, website and device we use has a significant amount of personal data that is stored on the internet. The responsibility of keeping this data safe and making sure you get the privacy you deserve has been the prerogative of the application, website or device we’ve been using.
But many times in the past, social networking sites, commonly used applications and devices have been breached and the data stored in it has been compromised. Which led to a massive pull back from these social media websites and affected their business. Data is power in today’s world and privacy is primal to anyone on the internet.
Because of the large amount of data that has been lost in the past and the continuing surveillance, there are many companies that have come forward offering options to secure data and give the user control over their data. Horizen is one of them.
Horizen: Bringing Privacy to Life
Horizen is a company that is focussed on only privacy specifics. The company builds privacy software for people building blockchains and applications on them, in order to make sure that their users get the best privacy the industry has to offer.
Horizen uses a combination of software to bring the best of privacy to the table. The aim of Horizen is to create a platform that other applications can be built on. The platform has multiple methods in place to fight off eavesdropping and middleman attacks and such. The platform also has a very interesting method of making sure transactions are anonymous.
When a bitcoin transaction is happening over a compromised network, it is easy for transaction-correlators to find out the proprietor of the transaction. But using Horizen’s network, users can make sure that their identity is safe but at the same time get a receipt or proof of transaction.
The three main functional elements that the Horizen depends upon are;
- ZenTalk: This is a broadcast communication. In other words, it allows one-to-many communication. And messages transmitted in this way are stored permanently on the blockchain.
- ZenPub: For those who wish to stay anonymous but still communicate through documents. It uses GNUnet or IPFS to publish these documents.
- ZenHide: To block crypto-advertising by using a front.
On the Horizen network there are two types of transactions as well:
- T-Transaction T-transactions are traditional transactions in which bitcoin is exchanged between two addresses and the entire exchange is recorded permanently on the blockchain.
- Z-Transaction Z-transactions are transactions in which Bitcoins are sent to a shielded address, from a shielded address. Shielded addresses essentially mean that the balance of the accounts, the amount of money being sent back and forth and other address related details remain private on the network.
Also, Read How to mine Zencash
As is clear from the two use cases listed above, Horizen is all about privacy. So much so that the company does not use regular nodes for communicating and operations. It uses secure nodes that are specifically designed with basic security features and have high performances. These nodes are employed in the network to make sure that the network remains resilient, secure and distributed. All while ensuring complete privacy to its users.
The aim of Horizen is to essentially make each individual responsible for his or her own digital footprint. The aim is to make sure that the control of which information goes where is with the actual creator and owner of the information.
Roadmap and Partnerships
The roadmap a company has set for itself and the way that it carries out its promises are a good way to judge the company’s commitment to its goal. In this particular case, Horizen, formerly Zencash, has been very diligent in ticking off its goals.
The company, apart from being super diligent with its goals, also has multiple strategic partnerships with companies like Genesis, Input|Output and Code Particle.
Grayscale partners, one of the largest digital asset manager deals with institutional investors, Launched 6.3M$ fund for Zencash yesterday, which will surely help zencash to maintain its value.
The native coin of the platform is called the ZEN. Compared to the other altcoins in the market this coin has successfully stayed about $5 USD for a long time. The general trend of the coin is also upwards.
The highest value that the coin has ever held is $65.16 USD. The current value of the coin is $19.33 USD.