Lets start the AMA.
Sir would you like to introduce yourself and Horizen.
Absolutely, so i'm Rob Viglione, co-founder and Team Lead for #Horizen and CEO of Horizen Labs
I'm joining this convo from beautiful Panama
My life before crypto was in the military as a scientist, then academia, and then was lucky enough to discover bitcoin
I was mainly interested in bitcoin for ideological reasons...I loved the idea of competing the idea of money, making it p2p
And now here I am...
Really appreciated.. 👍👍
Are you ready?
let's do it 🙂
Ok let's start with some 🔥🔥
Q- What motivates the founder of #ZEN?
Making life better for as many people as possible, tearing down barriers, and bringing people together through technology
That's the big picture answer, the other one is i'm obssessed with building the best blockchain ecosystem
We'll are always with you to making blockchain ecosystem better.. 👍👍
Now move to the 2nd que.
it has to be obsessive, the industry is just too competitive not to go all in and stay persistent
Q- Who are the customers of ZEN, currently? In the near future? And what is the incentive and key of One to appeal to businesses that need to use the ZEN?
ZEN is our first and most important product, so our first set of customers are cryptocurrency users who value privacy and like the ease of use of our products. our sidechain technology adds significant new dimension to the product in that we'll be providing devs tools to monetize their products and we'll be focusing hard on commercial applications, like we are with our biggest eary customers right now
Our zero knowledge toolss will be of particular importance for business use cases because there's just no way significant commercial activity will happen on open ledgers; no business wants to give away information to their competitors and most customers probably won't want sensitive info public; our tools allow businesses to leverage the power of blockchain will retaining data privacy, a critical mix
These are the really great things for customers.
I think so too, i'd say critical if blockchain will actually capture significant economic activity
Now let's move forward
Q4. - No matter how innovative, but many xyz protocols will disappear as their "TECH" can be adopted & improved on by larger, more established protocols. How you will ever be able to compete with them? What unique ideas have Team actually come up with?
Two unique ideas so far that differentiate us as a project:
1) We modified the economics of the system so that other stakeholders besidess miners can be compensated; this resulted in us ultimately having the largest node network in the industry with > 30k. You can copy and paste code, but you ccan't copy and paste 30k servers around the world or our community
2) Our biggest innovation to the industry is our sidechain tech; we're building a totally decentralized sidechain system so that devs can launch ANY other blockchain system as a horizen sidechain, e.g. you'll be able to fork EOS and run it as a horizen sidechain, you can do this for Ethereum, Monero, Grin, Hyperledger, any of them. this is a huge breakthrough that once we release the beta and a couple demo sidechains like Ourobouros Praus (Cardano) and an EOS version, it'll be eye opening and I think go viral
We also have a pretty awesome legal team and they're coming up with a nice hybrid intellectual property model where we still open source core tech but retain some private IP for competitive edge
You can see we take competition very seriously and intend to win
Very nice concept just 🔥🔥
And more than 30k servers is great remarkable thing.
We are always support #HORIZEN 👍
awesome, very much appreciated
we need to get the word out about what we're doing, so forums like this are great
Here is the next one
Que. - Are there very important benefits that investors should know about HORIZEN
in the Blockchain Industry?
Some important things for the value of our ecosystem:
-Sidechains are going to draw huge demand for ZEN bc it's the "gas" and the staking coin for each SC
-We have some pretty amazing commercial partners who are designing significant parts of their businesses using our system; e.g. the biggest runs 1/3 of a country's invoicing through their system and it'll one day process through a Horizen sidechain
-Horizen's fundamental scores are through the roof, we're a Top 10 project, Top 5 in engineering (FCAS)
-We're supporting by some of the best financial groups in the industry, such as DCG, Grayscale, Genesis
-Our node system is the highest quality and probably close to the highest ROI
on the last point, there are many masteernode projects, but most are low quality while offering crazy returns; we're fundamentally one of the highest quality projects int he industry but yields are still close to the highest
*apologies for the many duplicate letters, my keyboard is terrible!
There are so many advantages and every users should know about these benefits.
Absolutely, but with so much noise in this industry it's hard to get the message across
Yes you are right.
Q. - All current projects are concerned with the speed and quantity of transactions. Old projects have also improved their network. So what else does ZEN need to bring to investors?
that's one part of scalability and we're tackling it with sidechains. rather than trying to constantly jam more through a single main blockchain, we're building different sidechains for different functions, so they're not competing for bandwith
it's a completely different way of tackling scalabiliity,
and btw, our sidechains, at least v1, will be proof of stake and extremely fast
the main blockchain will remain PoW and be slower but much more secure; and speed isn't needed in the core blockchain, mainly in the functional sidechains
It's very good thing that separate sidechains for separate functions. Nice incentive.. 🔥🔥
Que - What is the business model of HORIZEN ? How #HORIZEN generates revenue for development?
20% of the block subsidy goes to a Treasury pool we use to pay for dev, team, ops, BD, etc.
we also have Horizen Labs, which is a VC-backed company that raised $5m in Seed capital and is building specialized sidechain tech that'll take the system to the next level
the rev model there is % of tx fees for sidechains that use the HL tech
Overall there are good sources of revenue for development.
yes I mean we currently fund a team of ~60 people, ~30 of them being devs and other tech
so it's not too bad 🙂
It's very good team.
you guys are welcome to check it out in more detail, i'm most proud of the team
we've also hired a few more senior engineers who aren't yet on the site
Please check it out after AMA.
Q9:Rest in the space and minimal product, where do you see your product actually being used by the community and solving the real world problem?
Currently, Sphere by Horizen is our core product and it's both a wallet and messaging app; though i'd say the messaing piece is still just proof of concept
Sidechains go live with beta in Q1, so within a few months the full system will be complete and that's where the real fun starts
that's when we move well beyond being a cryptocurrency project to being a privacy platform and the product takes an entirely different dimension to solve real business problems
Our biggest customer the digital invoicing company is the first and best example use case
User's privacy is the 1st priority for any of company.
We really like that you value user's privacy. 👍👍
Q10 - #HORIZEN Is already listed on the bigger and great exchanges how they impact in growth of #HORIZEN?
Being listed on major exchanges is absolutely critical, we're fortunate to have had early success with listings and a fantastic business dev team that's aggressive with getting new listings
Without being able to buy and sell ZEN, we just wouldn't have had the same growth
Q11 - What's the Algorithm used by #ZEN Project ??
Equihash PoW for mainchain mining
Que. 12- One of the competitive advantages of Horizen is the Dev team who assures speedy developments of different functionalities on HORIZEN ecosystem. I'd like to know more about your organization. Were there any significant challenges that your team encountered in the past?
Building this mature of a team while dealing with insane market volatility was a challenge! We've had to be very strategy about how to hire and retain folks while dealing with sharp market cycles
Launching Horizen Labs earlier this year and raising $5m helped a lot, obviously!
But I agree, our biggest asset is our team and we're quite proud of how it has come together
As a #HORIZEN users we are also proud that you are doing amazing work.
thank you, it's very much appreciated
Same here for #HORIZEN and team.. 😊😊
Now move to the next one
Que13 - What other types of strategies do you think or are implementing to improve the adoption of #Horizen network?
We're reorganizing the project a bunch to focus on growth; in fact, building a whole growth division that will focus hard on new user acquisitioin
we're getting obsessive with it and have already seem some first steps yielding huge results
projects like the getzen.cash faucet are exploding growth of the project and it's just a start
we'll also be focusing hard on devs with a couple dozen hackathons in 2020 and launching the Horizen Developer Environment (HDE) to turbocharge dev contributions to horizen
Sidechains to beta in Q1, production in Q2 are the big tech milestones; on the growth side we're aiming for 1 million users in 2020
born to ride:
Que . DEMAND & gt; supply = Price increase
Demand & lt; supply = Price decrease
My question also related to demand, which is important for investors. How will demand of #ZEN token increase in the future? What should you do to increase #ZEN demand?
sidechains will drive demand in a big way in that they all need zen to function in both staking and tx fees; we'll also be launching price stable assets (like zPeso and zUSD) that'll be collateralized in ZEN...many new sources for ZEN demand coming up in 2020
It's heard that next phase of adoption of blockchain technology will came from the Defi space. What is your views on this?
DeFi is interesting i'm all for it, but we're starting by setting our sites much bigger. The invoicing client will generate more tx volume than the entire DeFi movement combined 🙂
but also, our sidechain tech will be uniquely suited for other DeFi use cases we'll certainly explore
In general, every project faces risk. What are risks affecting the #ZEN? How do you solve with them to develop project in long term and attract users?
2. What is the core feature that creates the value of #ZEN Can you tell some highlights from them?
regulation and competition are our biggest risks, but on the former we've been playing very conservative so as to not blatantly violate any regulatory issues; on the latter, we're just completely obsessed with competition and constantly thinking how to position ourselves
Where is the #HORIZEN name coming from and what is the logo representing ?
horizen signifies what we're doing, pushing the frontier, pushing boundaries, always looking to the future (the horizon)...we swapped "zen" into the word to stick with our ZenCash roots
Investing in #HORIZEN provides opportunities, and risks, similar to investing in Bitcoin, Ethereum, or other digital assets. If ZEN rises in price from time to time, you benefit from appropriate performance. Any investor would want the value of the investment so they get a profit. So how does the #ZEN team realize the price of ZEN in the market so that it keeps rising?
we focus on innovation, great products, and building a huge and loyal community; that saiid, we also work with strategic finance partners like DCG, Grayscale, and Genesis to make sure we have healthy markets
With which blockchains, can #HORIZEN interact with each other? And how does HORIZEN solve this interoperability problem?
we're building complete interoperability for any blockcchain within the horizen ecosystem, technically so long as the chain integrates our Cross-Chain Transfer Protocol (CCTP); we're not focusing on interoperability with chains outside our ecosystem [yet]
Could you give me three key points to convince me and other angel investors invest in ZEN token in long-term?
1) We're about to delivery the beta version of groundbreaking tech that actually lets blockchain scale for business,
2) Our fundamentals are through the roof in terms of being a high quality project,
3) We have the largest node network in the industry
4) Back the great teams, we are one of them
5) our community growth is starting to explode
How did $Horizen survive in during long bear market? what your team strategy to gain more Adoption ?
Can you share us on recent achievement your team are most of?
In October we delivered the Alpha version of our sidechain system; this was the biggest engineering delivery to date for us; we survived the bear through sheer grit, constant adaptation, and aggressively growing
Q1) What’s your outlook on the future of cryptocurrencies?
Q2) What can we do to keep increasing adoption?
Cryptocurrencies are the future, there's no doubt in my mind. to gain mainstream adoption, we need to do a better job as an industry in creating great products and making their use super easy...we'll get there soon