In a new announcement, ZenCash – the 70th most valuable cryptocurrency by market cap – has now announced a brand expansion that will see the initiative rename to ‘Horizen’.
While ZEN will remain the platform’s core cryptocurrency, the newly announced ‘Horizen platform’ will introduce a decentralized autonomous organization (DAO) along with smart contract capabilities and support for sidechains.
Horizen will further accommodate a treasury voting system through which members will be able to vote on resource allocation and work proposals, while the platform will further research and develop a ZenVault wallet, blockDAG protocols, and ASIC mining resistance.
In a statement to the press, Horizen President and Co-Founder Robert Viglione offered that:
“The ZenCash project has greatly evolved since its inception more than a year ago, and it’s now time to expand our brand to more accurately reflect our mission to promote the fundamental human right of privacy worldwide. What initially launched as a privacy-focused cryptocurrency has transformed into a much broader and deeply capable platform that will host a variety of privacy-focused applications, including secure messaging and publishing. The Horizen brand completely embodies our technically-innovative mission and the sentiments of our community — we are a visionary privacy platform in which people can believe and to which they can belong.”
Addressing Horizen’s burgeoning community, Executive Advisor and Co-founder Rolf Versluis added that “Our large and engaged community is one of our greatest strengths. I’m very happy that the development of the Horizen brand included feedback from many people that have been with us since the beginning, as well as more who have joined us along the way.
The platform will broadly facilitate use-cases for ZEN, and will foster the ability for communities to privately communicate with one another as well as publish information and develop privacy-based applications.
Versluis concluded that “Our enterprise has a track record of delivering success, and Horizen encompasses our ability and desire to continue that growth in many ways. As we to pioneer innovation with our community and technical partners IOHK and Infopulse, our expanded brand encompasses our unlimited capability to deliver new product offerings, improve our platform for partners to build even more profitable applications, and enable personal freedom and liberty using technological privacy.”
ZenCash has retreated by -9.97% at press time, and presently trades at $19.65 USD.