Horizen

Horizen is a privacy-focused platform that aims to make zero-knowledge proof technology and trusted execution environments usable across web applications. Its native token, ZEN, is classified as a Layer 2 and scaling asset. The project targets developers and users who want privacy infrastructure without building it from scratch, positioning itself as modular infrastructure that other applications can plug into.

The original Horizen network uses the Equihash proof-of-work consensus algorithm with a block time of roughly 2 minutes, meaning new blocks are added approximately every two minutes. The project is now evolving into Horizen 2.0, an application-specific chain built on top of Base, which is itself an Ethereum Layer 2, making Horizen 2.0 a Layer 3 that inherits settlement security from Ethereum. ZEN functions as the native token within this ecosystem, used to interact with the network, though the on-chain total value locked recorded in the data is currently zero.

The data records a total value locked of zero at the point in time measured, which means there is no on-chain capital currently deployed in protocol contracts that would generate fee revenue in the conventional sense. Without a visible fee stream in the stored data, fee-based measures commonly found on this site are not applicable to Horizen at this time. Roughly 87.29 percent of the maximum supply of 21,000,000 ZEN is already in circulation, leaving approximately 14.57 percent of supply still to be issued, a figure that represents potential dilution for current holders of the circulating 18,330,175 ZEN.