ZenCash (ZEN) has completed its rebranding, choosing the name Horizen for its expanded pool of activities and features. Initially meant to be a cryptocurrency, the privacy-focused asset has listed additional features and plans under the new brand. The ticker ZEN will stay in place, the ZenCash team said in a statement e-mailed to Cryptovest.
The long-awaited rebranding comes about a year after the project appeared among tradable crypto assets.
“The ZenCash project has greatly evolved since its inception more than a year ago, and it’s now time to expand our brand to more accurately reflect our mission to promote the fundamental human right of privacy worldwide. What initially launched as a privacy-focused cryptocurrency has transformed into a much broader and deeply capable platform that will host a variety of privacy-focused applications, including secure messaging and publishing,” Horizen co-founder and president Robert Viglione said.
ZenCash started as a fork of ZClassic (ZCL), which is itself a fork of ZCash. The family of coins uses ZK-SNARKS, a technology of transacting without revealing details about the sender, receiver, and amount of funds.
Horizen expands on this central feature, moving into areas such as censorship-resistant publishing and the ability to build privacy-based applications or generate basic income through ownership of personal data.
‘As we to pioneer innovation with our community and technical partners IOHK and Infopulse, our expanded brand encompasses our unlimited capability to deliver new product offerings, improve our platform for partners to build even more profitable applications, and enable personal freedom and liberty using technological privacy,” Horizen co-founder and executive advisor Rolf Versluis added.
The new brand has started building a presence on social media:
The ZEN digital asset started trading on June 7, 2017, reaching a daily peak of $21.80. After a listing on Binance, more than 45% of trading is concentrated on this exchange. ZEN hit an all-time high of $67.29 on January 10, 2018. At the time of writing, it is trading at around $19.83.