ZenCash (ZEN) Privacy-Centric Cryptocurrency Renames to “Horizen”
ZenCash Transitions To “Horizen” To Expand Its Goods And Services
Censorship resistant privacy-based blockchain platform and token, ZenCash has recently announced that it has rebranded itself as “Horizen”. The decision to do so considered several reasons including two main ones, which entail community interest and the need to expand ZenCash’s commercial and consumer-based goods and services.
News regarding the rebrand was first announced via Horizen’s Twitter page, which included a message from its Co-Founder, Rob Viglione. According to Vigilone, the new change is not simply a rebrand, but rather an “expansion on the brand”. In particular, he shared that the team’s focus will be on privacy and to help “empower individuals to own their digital footprint.” Based on the claims made, it seems like the latter will be achieved through the Direct Decision Authority (DAO) Voting System.
Senior Marketing Manager of Horizen, Johnathan Teplitsky shared to Sludge Feed that the rebranding process involved input from several players including the likes of “community members, node operators, miners, leadership team, former government regulators and major institutional investors.”
While ZenCash will now be referred to as Horizen, its native token, ZEN will remain the same. This news supposedly comes right after the team’s statement that two particular facets of the Horizen platform have since been improved. More specifically, they are said to consist of payment trackability and increased uses via sidechains.
As per CoinMarketCap, ZenCash currently holds the 69th position, with a market capitalization of USD$89 million, trading volume of USD$1.3 million and token price of USD$19.62. In the past week, ZEN has seen various fluctuations. However, its dip is not as severe as it managed to maintain within the USD$19 range, which is about a third of its all-time high.