Horizen Yearly Recap - A New Era For The Network

10 days ago

As 2024 comes to a close, it's time to celebrate an incredible year of milestones for the Horizen Ecosystem. This year has been nothing short of transformative, marked by groundbreaking achievements and forward momentum that set the stage for an exciting future.

Highlights from 2024 include the Horizen 2.0 upgrade, introducing a new era for the network, and revamped tokenomics for $ZEN, aligning incentives for long-term growth. The year also witnessed the historic 2nd and final $ZEN halving, a defining moment for the token's evolution.

Key partnerships and recognitions added to the momentum, with Grayscale filing an 8-K form with the SEC for the Horizen Trust and Binance removing the monitoring tag for $ZEN, reaffirming confidence in the ecosystem. On top of that, $ZEN landed on new exchanges, further expanding accessibility.

The community's voice rang loud and clear as seven ZenIPs were voted on and passed, propelling innovative changes across the network. Horizen also unveiled a refreshed brand identity, participated in 10+ global events, and achieved countless other accomplishments that demonstrate the ecosystem's growing strength and reach.

For all the details on this remarkable year and a preview of what’s ahead in 2025, dive into the 2024 Year-End Report. The horizon has never looked brighter!

In June 2024, the Horizen community made a game-changing decision, voting overwhelmingly in favor of upgrading the Horizen mainchain and Horizen EON to the cutting-edge Horizen 2.0 blockchain architecture.

This transformative upgrade tackles the challenges of legacy systems head-on, paving the way for greater scalability, efficiency, and innovation. More importantly, it firmly positions Horizen as a premier hub for ZK technology, aligning the network with its bold vision for the future of blockchain.

The preparations for migrating $ZEN are complete, ensuring a seamless mainnet token-claiming process. The new PoS-based system with the AURA consensus algorithm is ready to boost security and align with $ZEN tokenomics.

EVM compatibility is set, enabling Solidity smart contracts and Ethereum app interoperability. The Horizen 2.0 test-parachain successfully integrated with zkVerify, advancing ZK proof systems. Additionally, an internal testnet is live, fine-tuning features ahead of the public launch.

The approval of ZenIP 42407 marks a transformative step for the Horizen ecosystem, introducing innovative tokenomics tailored for Horizen 2.0. This milestone aligns the network's financial model with its vision of becoming a leader in the zk technology space, setting the foundation for long-term growth, stability, and sustainability.

As part of Horizen's broader strategy to advance its ecosystem for decentralized applications, particularly those leveraging zero-knowledge technology, these tokenomics revisions address key areas such as the distribution of remaining ZEN tokens, updated vesting schedules, and enhanced reward systems.

On December 12, 2024, Horizen celebrated its final halving, marking a pivotal step in its evolution. After eight years of growth and innovation, this event introduced a smoother emission curve, enhancing ZEN’s stability and supporting ecosystem expansion.

It also sets the stage for Horizen’s transition to Proof of Stake in 2025, ushering in a new era for the network. These updates are designed to bolster network security, incentivize ecosystem participants, and ensure sustainable growth for years to come.