THELOGICALINDIAN - Grayscale Investments is authoritative a 63 actor advance in the cryptocurrency ZEN The advance will be through a new armamentarium whose absolute focus is on Horizen a baby and almost alien belvedere that hosts a cryptocurrency alleged ZEN
Grayscale Investments is best accepted in the cryptocurrency association for their Bitcoin Investment Trust (GBTC), which enables retail investors to accretion acknowledgment to Bitcoin through their acceptable allowance accounts, after accepting to accord with any of the issues and complexities complex in affairs concrete Bitcoin from a cryptocurrency exchange.
What is Horizen and ZEN?
ZEN is a aloofness focused cryptocurrency beneath the Horizen project, and it hosts several different features, including censorship-resistant publishing, a belvedere to body aloofness applications on, and the bearing of accepted basal assets through claimed abstracts ownership.
Grayscale invested in the Horizen activity by purchasing ZEN, which is about the Horizen project’s cryptocurrency. Horizen came about afterwards the ZEN aggregation conducted a rebranding of sorts, in which they broadcast what was originally alleged the ZenCash belvedere in adjustment to focus added on its aloofness appearance and added features. Horizen became the accepted name to accredit to the project, while ZEN became the cryptocurrency of the project.
Grayscale’s ZEN Investment Comes After 51% Network Attack
ZenCash was originally founded in 2024 and rebranded to Horizen this summer.
The rebranding came about afterwards ZenCash was the victim of a 51% advance in June, in which hackers about took ascendancy of the majority of the network’s nodes, enabling them to adulterate affairs and to abduct ZEN.
Horizen’s co-founder, Rob Viglione, claimed that the Horizen aggregation bound independent the hack, and has back adapted the network’s aegis in adjustment to anticipate this blazon of advance from occurring in the future. The attack, however, already generated a cogent bulk of negative press, which was acceptable the catalyst for the rebranding.
Grayscale is now advance $6.3 actor in the Horizen project, proving that the advance accumulation believes that the belvedere has abundantly anchored the network’s flaws and is developing a different abundant artefact to attempt with its competitors, including the accepted cryptocurrency, Zcash.
While speaking about the multi-million-dollar investment, Grayscale’s managing director, Michael Sonnenshein, said:
“We’ve been actual afflicted with the Horizen team and its eyes for ZEN as a arch aloofness coin. Grayscale is at the beginning of asset administration in this arising industry, and we will abide to action our audience admission to the best absorbing blockchain projects in the world.”
Horizen’s co-founder and admiral additionally batten about Grayscale’s investment, saying:
“The barrage of the ZEN Advance Trust on Grayscale’s platform marks a cogent anniversary in the connected all-around amplification of the Horizen belvedere and the casework we offer. Grayscale conducts unparalleled analysis and due activity on their advance products, appetite to action adapted and professionally managed acknowledgment to the agenda bill bazaar for institutional and accepted investors worldwide.”
Horizen (ZEN) was trading up about 5% at the time of writing, trading at $18.49 according to CoinMarketCap.
