️Update️- Horizen/ZenCash | DAO Treasury, Super Nodes & Brand Refresh

by birtanpublished on September 11, 2020

what's going on guys welcome back to my channel today I'm gonna do a video update of the project Zen cache which is now horizon I cover the project back in I believe April so I kind of just wanted to do an update and figure out what

They've been doing what they've got going on for the sake of the video I'm gonna refer to the project as then still even though they have refreshed or rebranded to horizon the ticker symbol is still Zen anyway so it just makes

Sense for me so that I don't get confused also a quick reminder please hit that like button and that's a subscribe button if you haven't I put out new content pretty frequently and I would hate for anybody to miss out as

Always I really do appreciate all the support you guys are showing me it keeps me going gives me fuel to make more videos I want to do a quick shout out to the people that send me this shirt they're called crypto high peace I

Actually tried to tweet them and tag them on Twitter thanking them for the shirts but unfortunately I can't seem to find their Twitter handle or any handles at all and I think I actually might have deleted the email so if you see this

Thank you feel free to reach out to me so I can thank you personally I appreciate it as a reminder I do have a discord server if you guys want to chat you want to talk about something maybe you have a disagreement on an opinion

Please hop in there I will leave all the links down below as usual my normal disclaimer still applies here I'm not a financial adviser all vestments have inherent risk and please always do your own research my videos are for

Entertainment purposes only alright so on to the updates what's been going on with Zen so this may not be news for some people because this happened quite a few months ago but Zen was actually listed on Konomi wallets

Quai no Meah wallah is an open source application that allows you to store convert and trade cryptocurrency on your mobile device Kwai Nomi features support 450 coins and has continuous integration of other crypto currencies and tokens it

Sounds to me kind of like an ethos wallet I actually downloaded it to test it out because I'd heard of it but I'd never used it prior to this pretty simple very easy to use kind of what you'd expect as far as normal UI goes

For a cryptocurrency app but you know any stream line or any third-party company or group that's creating stuff it's bringing use cases in for these projects is very important so if you're interested I suggest going to download

The app also a point to mention for some people who may not know Zen cash or horizon is actually on ledger to the ledgers support for them for quite some time now but if you didn't know go check that out

As well bigger news that most of you probably did hear about and June 2nd Zen fell victim to a 51% attack at approximately 826 the Zen team immediately executed mitigation procedures to significantly

Increase the difficulty of future attacks on the network for those of you who don't know let me quickly define this what is a 51% attack well this is when a malicious minor acquired sufficient hash rate to inject

Fraudulent blocks into the blockchain the typical attack profile is the criminal will privately mine a sequence of blocks send a valid transaction of his own phone soon change trade that cryptocurrency for another and withdraw

The funds basically this is creating a double spend as another transaction name that you might hear for it the key point to mention that they wanted to make sure that everybody was aware of is that there's no new coins being created only

The criminals own coins that have been manipulated or spent twice meaningly your coins are safe and there was no no issues with your personal holding of Zen Cash during the attack rob big lyon actually he handled this really well he

Put out a great article here explaining what happened what to expect understanding that it's not a good event and there have been some big misconceptions about what it really means what we're doing and what this

Means for the project in long run I have to say I think they handled exceptionally well I mean it's not a good scenario for any project but to be honest with you he went and he did a ton of YouTube streams he went on different

YouTube channels did interviews he was on my friends podcast the crypto basic podcast and he talked about the 51% attack he did a very good job of reaching out to the community answering all the questions and making sure that

There was no ifs or buts or concerns from the community just to restore confidence and kind of understand that you know again it wasn't a good situation but I think they handled the best case scenario some final facts here

To mention no coins were created out of thin air the event was fraud against the specific victim your private keys messages and all of your Zen exchanges are perfectly safe what are they doing to prevent this in the future so here's

Three solutions that they're currently working on or that are on the table for them to figure out what makes the most sense the first one I don't quite understand because it's a little bit more technical than I am accustomed to

But parallel blocks report on the network I'd assume that this has to do with double spend and maybe just being more sensitive to that introduce a panel metric for delayed block reporting this probably makes it easier for people to

Double spend if things aren't being reported simultaneously use our node system as a sort of notarization service that effectively layers proof of stake on top of the current proof of work so I'm guessing these are ideas that

Haven't been put into place yet but are definitely things that they're thinking about in the future that may solve this problem or prevent it from happening again there's actually a website that got very

Popular not too long ago about the same time that this happened actually that shows the proof-of-work 51% attack cost essentially it shows what the cost would be for 51% attack on most larger proof-of-work projects they do stipulate

That the attack would only work if nice hash had enough capacity for the attack which is why some of these numbers are grayed out but it is interesting to see what projects could fall victim to this it's also interesting just to see what

Algorithms are being used for what projects now I'm not downplaying the severity of 51% attack but I did find this article Evette shows some projects just in 2018 alone that have experienced a 51% attack

I do think that they may have forgotten that let's see where is it verge on May 22nd oh that's my birthday um they may have forgotten that verge I believe that 51% attack three times within like the course of a month so this may not be a

Hundred percent accurate but this just goes to show you electroni Emoto coin or Minako coin whatever I can't ever say it Bitcoin gold verge like when cash is in cash so you know Zen cash isn't the only

Platform to fall victim to this in July they released an article titled Zen cashed out Treasury and voting system prototype delivered so pretty much what this meant or what this sums up is Zen cash is research and development partner

Partner input-output Hong Kong or IO HK you guys primarily know them because I which K also manages card ah no they collaborated together to develop a prototype version of an on chain decentralized autonomous organization

Treasury System bores n cash they're going to be working with IO HK to set up this system and move it on to the Zen Network to engage involve the community and its funding decisions this is very cool because I mean as it explains here

Anyone in the community can submit a proposal for consideration stakeholders can review these proposals that get passed on and they get sent to the next stage where Zen holders can vote on where the funding gets placed

Big deal this gives a lot more obviously autonomy within a project the community can vote on things that they think are worth spending the Treasury money on it can help pursue better things for the

Projects marketing for the project whatever they may be whatever the project is interested in but it definitely gives some democracy and some freedom to the project to actually do what the community wants and it's

Definitely a pro for me most projects with the Dow I'm very interested in any voting any Treasury model because it to me it really means that they want a hands-off approach and I know that fundamentally Zen cash or horizon does

Want a hands-off approach Zen cash values privacy and decentralization and that's why the team is implementing a decentralized decision-making process so right there pretty plain then on July 6th Zen Cash released their new white

Paper which was featuring these super nodes are the beta version of super nodes they recently announced that their plans to add super nodes to the zen cash network by the end of 2018 by doing this in a combination with making

Improvements on the existing zen cash secure node network we were setting ourselves up to be much more than a cryptocurrency so the purpose of the super nodes is that they're obviously going to be more powerful than the

Secure nodes they'll be tasked with managing key network and system functions including hosting multiple services on side chains tracking and measuring secure node uptime and queuing the node payment

Schedule for miners super nodes will advance the decentralization the sim cash Network and ensure that utility of not only the Sun cash is a currency but also future services that are layered in infrastructure so basically what they're

Doing is they're creating a new tier of nodes which are obviously it's going to allow more decentralization because there's going to be more people or more units on the network working on the network stabilizing and securing the

Network I forget the actual statistics and where Zen cache falls as far as nodes compared to other projects but on their secure nodes a little website here if you look at global their total is sixteen thousand five hundred and forty

Four that's a lot of nodes and then on August 22nd finally they released their brand refresh or their redo or upgrade or whatever you want to call it so they renamed other brand expansion they renamed their project to Horizon they

Aren't calling a rebrand because they're not departing from the past they're crafting a new brand and they wanted to keep those end heritage close and so obviously although their new word is horizon the cryptocurrency is still Zen

Still ticker which I think was actually a genius idea because it helps to differentiate this project from every other Z related cryptocurrency or privacy coin but also while keeping the name so that people

Aren't too too confused and so that the information from other articles or whatever you know stuff that people have written online and passed it's still gonna be somewhat applicable so I think it was a good idea just different enough

To make a point but still close enough to home the people won't get too confused if you have some questions they have a basic FAQ here the ticker symbol you know changing the ticker is my Zen say for my wallet address remain the

Same all this stuff is very important questions that I'm sure a lot of people have already had answered but if you still have questions I will again leave all the links for this video in the description below so that everybody has

Uh some reference so I know it's only been a couple months well like four or five months since I covered this project but I figured since the 51% attack and the brand refresh I had enough information to go over the

Project again and really kind of give it a second look plus as most of you know I'm a huge zen cash or horizon fan a lot has to do with the fact that I like that there are privacy coin but also they're making platforms which i think is going

To diversify their use case not to mention they're working with IO HK and everybody knows that I adore Cardno so I think it's great that they've got those geniuses on their side to own all I think they're making fantastic progress

And I think they've handled all of the you know the hurdles or the speed bumps that they've been dealing with over the last few months very well so I look forward to the future and I can't wait to see what they've got going on but

That about wraps it for me today so I want to thank everybody for watching as usual and I will see all you guys soon

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