What is the use of ZEN coins? The concept, value and practical application of ZEN coin

ZEN Coin is a privacy coin based on the Horizen blockchain. Its main uses include: Privacy: Provide a high level of transaction anonymity and protect personal financial data. Security: Utilize advanced encryption technology to ensure transaction confidentiality. Anonymity: No personally identifiable information is stored, anonymous transactions are supported, and risks such as identity theft are prevented. Auditability: Allows auditors to verify transaction validity without revealing user identity. Practical applications: Can be used for online payments, exchange transactions, anonymous donations, digital asset management and privacy-enhancing applications.

What are ZEN coins used for?

Concept:

ZEN coin is a decentralized privacy coin based on the Horizen blockchain. It uses zero-knowledge proof technology to protect the anonymity of user transactions while still allowing verification of the blockchain.

Value:

• Privacy: ZEN Coin offers a high level of privacy, allowing users to conduct transactions anonymously. This is essential to protect personal financial data from prying eyes and surveillance.
• Security: The Horizen blockchain is known for its security, using advanced encryption technologies such as zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Knowledge Arguments) to ensure the confidentiality of transactions.
• Anonymity: ZEN Coin does not store personally identifiable information, allowing users to conduct transactions anonymously. This helps protect against identity theft, harassment, or discrimination.
• Auditability: Despite providing anonymity, ZEN Coin still allows auditors to verify the validity of transactions without revealing the user’s identity.

Practical applications:

• Online payments: ZEN coins can be used to make anonymous payments in privacy-enabled online stores.
• Exchange Trading: ZEN Coin is listed on many cryptocurrency exchanges, allowing users to buy and sell cryptocurrencies in a private way.
• Anonymous Donations: ZEN coins can be used to make anonymous donations, helping to protect the privacy of donors.
• Digital Asset Management: ZEN Coin can be used to store and manage digital assets such as cryptocurrencies, NFTs, and tokens.
• Privacy-Enhancing Applications: ZEN Coin is integrated into various privacy-enhancing applications, such as anonymous browsers and encrypted messaging platforms.

Horizen (ZEN) Price Action Overview

As of 2024-08-05 10:00, the price of Horizen (ZEN) is $7.59. Its 24-hour trading volume is $26.3 million, down 11.6% in the past 24 hours.

Price Movement Factors

The recent ZEN price drop may be caused by the following factors:

• Overall decline in the cryptocurrency market
• Reduced ZenToken burning activity
• Profit taking

Future Price Movement Forecast

The price of ZEN may continue to fluctuate in the short term. However, long-term growth potential remains for reasons including:

• ZenToken’s increasing utility
• Increased cross-chain technology adoption
• Improvement in market sentiment

Recommendations

• Investors should pay close attention to ZEN’s Long term potential.
• Conduct thorough research before making any investment decision.
• Invest according to personal risk tolerance.

Short-term trend forecast

The price of ZEN is expected to remain in the range of $7 to $8 in the short term.

Indicator

• Price: $7.59
• 24 hour trading volume: $26.3M
• Market cap: $116M
• Circulating supply: 15.2M
• Maximum supply: 21M
• Total supply: 15.2M

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