Horizen Masternodes

07th May 2019
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What is Horizen?

Horizen was formerly known as Zencash;.it is a blockchain platform that is very concerned with its user’s privacy, it provides complete control of the user’s digital footprint and provides private messaging. It was launched in May 2017. The platform provides more than just currency. The platform has plans to one day enable users to build privacy-based applications.

The cryptocurrency has a maximum supply of 21 million coins, similar to Bitcoin and makes use of the proof-of-work protocol.

How does Horizen work?

Horizen is the first ever TLS end-to-end encrypted anonymous money network that also offers other services like messaging, content platform, and DAO (decentralized autonomous organization. Horizen makes use of three main systems, the ZenChat, the ZenPub, and the ZenHide. All three systems offer users anonymous services

Horizen does not have access to shielded information shared on the platform, and as much as privacy is critical on the platform, Horizen has measures in place against fraudulent activities.

What makes Horizen?

Horizen has some unique features. Let’s take a look at some of them:

Zen: Horizen is a cryptocurrency platform, and its currency is known as Zen. With Zen, users can quickly transfer values and pay for goods and services like you do regular currency. Zen is compatible with bitcoin and Z- derived applications.

ZenChat: This feature is a secure messaging application that can work as a stand-alone product or a product embedded in a user’s wallet. With ZenChat, you can have one-on-one communication or group communication with other members of the platform. All messages shared on ZenChat are stored permanently on the blockchain technology and are encrypted with trusted algorithms such as AES-256 with Perfect Forward Secrecy (PFS); this is to avoid metaleaks.

NB: ZenChat has a 512 character limit.

ZenPub: This is a feature that lets users anonymously publish documents, data, and media without censorship restrictions. With this feature, you can anonymously make publications using text field of the Z address, without fear of reprisal or being found out. In other words, it is a secure document publishing platform that follows open distribution protocol.

ZenHide: This feature is what protects users and their cryptocurrency data from cryptojackers. However, Horizen uses the ZenHide feature which uses the domain fronting technique to hide the endpoint of a communication. With ZenHide, users can circumnavigate crypto-commerce blocking using domain fronting.

There are other features on the platform that are yet to be launched; they include: InstaZen (which will enable faster transaction time), ZenGrid (for rent computation), and ZenDAO

How to earn passive income from Horizen.

You can make money from Horizen by running a masternode. What is a masternode. Horizen currently has three

Regular Full Nodes: Horizen wallets are full nodes, they hold the latest blockchain.

Secure nodes: They offer enhanced privacy and powers the ecosystem of Horizen. Secure nodes make use of specific enhancement beyond what a standard blockchain node provides. You can invest in secure nodes with 42 Zen per transparent node.

To run a secure node, the requirements are not that stringent. You will need to keep a 92 percent reliability score, which implies that you have to keep the node running for 92% of the time. You must also get a TLS certificate from a trusted Certificate Authority. You will also be required to maintain and propagate a full copy of the Horizen blockchain.

Super nodes: the super nodes network introduces platform applications and sidechaining. It manages vital network and system functions like tracking and measurement of secure node uptime, multiple hosting services on side chains, and scheduling payment for node miners.

You can operate a super node by investing 500 Zen. A super node operator gets to receive an equal share of 10% of block rewards if they meet acceptance on time.

To run a Super node, you will need 8GB RAM memory or more, and must maintain a 96 percent reliability score, ensuring that you keep the node running for 96% of the time. You will also be required to have 100 GB of storage or more.

Supernodes add two major improvements to the Horizen network. First, they allow tracking and payment of Secure Nodes to be moved on-chain, or in protocol, which is a major change from the current management which is done via external server clusters. Secondly, they provide the required infrastructure to implement Side Chaining which moves Horizen from a pure cryptocurrency to an application ready platform upon which an unbounded set of services can be built.

For both masternodes, the return on investment varies but ranges between 20-35 percent.

Several platforms offer Masternode hosting services.

Horizen, a quick review

This is the first TLS end-to-end encrypted anonymous money network ever created in the cryptocurrency space that also offers other services.

  • Tokenomics: Horizen known as ZEN has 21 million total coin supply, similar to Bitcoin. At the moment, there are over 6 million ZEN coins in circulation, with halving of mining reward reduced every four years, same as Bitcoin. Miners get 88 percent of the coin distributed, while the core team keeps 8.5 percent and secure nodes have 3.2 percent.
  • Technicality: Horizen wants to ensure that it remains a platform that offers optional privacy features that aims to provide users with complete control of their digital footprint. They have regular nodes, secure nodes, and Supernodes that help run the network.
  • Usage: Horizen is a network that is already in use. The cryptocurrency was previously known as Zencash. The privacy features offered by the network could see its network continue to grow.

Conclusion:

You can earn a passive income by investing in the super nodes and secure nodes. By investing in them, you are contributing to decentralization and enhanced privacy while also getting nice return on your investment.

You achieve all of these without carrying out active engagements on the platform, doing this well can earn you handsome rewards. For additional information, you can check out

Learn more about Masternodes

 

 

 

 

Not investment advice. Not financial advice. Consult your financial advisor. Not a recommendation to buy, sell or hold. The staff of this site may own these digital asset/s mentioned on this page. Investing is risky and you may lose all your capital. See full disclaimer.

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.

Author: Jim Reynolds
Jim Reynolds. Is passionate about finance, passive income and cryptocurrencies. He writes about his passions on NodesOfValue.com. He has worked in the tech and financial industry for a few decades. He holds a masters in business admin and a bachelors in IT. All his writings are not investment advice.

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