Horizen and Horizen Labs Partners in Boosting Adoption
By Jofor a.k.a. Cyberczar - 2019-04-12
is building a sidechain on the Horizen blockchain
. This would enable businesses to build decentralized apps and launch their businesses on the platform.
This was released by the Horizen team on a blog post
which stated that the independent company, Horizen Labs is hard at work building business tools on the Horizen blockchain.
The company has already invested millions of dollars in the project which has been envisaged to be a game changer in the service-specific blockchain tools development. It is anticipated that the project would serve as a catalyst that boosts adoption due to the robustness of the Horizen blockchain.
The Horizen team announced that Horizen’s enhanced network security puts it in a class of its own which is the reason the network is collaborating with the company.
The platform is globally distributed and protected by a network of nodes. This is suitable for the Zenchash project due to its emphasis on privacy which it projects as a fundamental human right.
The Horizen project is confident that the suite of business tools being built on the Horizen blockchain would enhance the use of the ZEN, the internal currency of the ecosystem. The sidechain’s attraction is that it features attributes that developers are on the look-out for.
This means that the implementation would also boost public adoption of the ZEN and cryptocurrencies generally. The Horizen Lab sidechain project is an important milestone considering that the company would be building hundreds of them. ZEN would be used in making transactions between the sidechains and mainchain.
Horizen, which is a supernode operator would reap many benefits in that sidechains run by other operators on their node would yield more income to them.
The Horizen Lab projects is causing the partners to take another look at their business model knowing the potentials are higher. With the recent partnership, Horizen is studying use cases of prospective enterprises in the bid to serve their use cases and push the frontiers of their technology.
The company already raised $4 million in funding for its sidechain projects. The funding round was backed by venture capitalists firms such as Digital Currency Group (DCG) and Liberty City Ventures.