Can someone list all the reasons why Horizen is better than Bitcoin? This is something I would really like to see. Even if it is not better security wise right now, perhaps it will be just as good security wise or even better in the future for reasons that only an expert can explain to us. Perhaps right now or in the future it clearly will be better than Bitcoin both in use case and as a store of value. So I ask an expert to be bold enough to answer my questions about this. Thank you.
Horizen has one of the most distributed node systems, with 18k Secure and 2.6K Super nodes https://www.horizen.global/zennodes/
Bitcoin has 9464 Nodes https://bitnodes.earn.com/
Ether has 9020 Nodes https://www.ethernodes.org/network/1
Horizen Secure and Super Nodes enable a distributed and reliable cryptocurrency system that encrypts inter-node communications.
Horizen node communication looks like any other encrypted internet traffic, instead of like Bitcoin traffic.
ZEN Node operators are incentivized with 10% in total 20% for both class of nodes.
BTC nodes are not incentivized.
Shielded transactions
- Horizen as a platform enables you secure communications and deniable economic activity, so far.
- ZEN is built on zero-knowledge Succinct Non-interactive ARguments of Knowledge (zk-SNARKs)
Code:
There are three anonymity implementations currently available first is zero-knowledge proofs.
The second based on gmaxwell's CoinJoin idea (such as mixing services for Bitcoin or the altcoin Dash).
The third CryptoNote are ring signatures that mask sender identities by mixing and one-time keys that make transactions unlinkable.
In the case of ZEN you can choose between two types of transactions:
T-transactions are traditional blockchain-recorded transactions controlled by a private key in a wallet. These are derived from Bitcoin and enable rapid compatibility with exchanges, wallets, and other Bitcoin-derived ecosystem applications.
Z-transactions are transactions sent to shielded addresses. Balances in shielded addresses are private. If sending to one or more shielded address, the value stays private but any transparent addresses on the receiving end will deshield the token and reveal the value received on the blockchain. The input shielded addresses and whatever the value was sent from one or two of these remains confidential when deshielded.
Horizen supports combining of those two different types of transactions
Bitcoin has only transparent transactions and this is the biggest weakness of BTC!
Sustainable economic models
Horizen has a sustainable economic model. Horizen using a community governance model. In the Horizen network, 20% of the tokens are allocated for community development, marketing, maintenance, and other costs paid for out of the treasury. This ensures that there are always enough resources available for growth.
Horizen have 24/7 support with real humans behind.
Horizen Team is putting a lot of efforts into rising of awareness through the building of Horizen Academy. https://academy.horizen.global/
BTC is dependant on voluntary work. This is still a couple of thousands of developers who are contributing.
Horizen is platform!
In progress:
- Sidechains allow everyone to introduce exciting new functionalities by developing blockchain-based applications that are able to safely exchange coins with the mainchain in a decentralized and distributed way. Horizen’s sidechain SDK will hide the complexity of the cross chain transfer protocol and will provide a solid base for blockchain based application development.
Voting system
In progress:
- DAO decentralized autonomous organization will be one of many sidechain applications for the Horizen platform, demonstrating the power of dApps and decentralized, community based governance. This will be one of the first sidechains.
Scalability and mining centralization
In progress:
Horizen working on its own solution for this problem of mining centralization, blockDAG (prototyped by IOHK) is the next generation alternative to the blockchain using Directed Acyclic Graphs with the promise of unlimited scalability and instant transactions. In short, this can bring back Solo mining in the game. And this is one of the priorities of the Team.
BTC is better adopted in business and has the strongest network protected by enormous hashrate..
Still, there is no solution for Scalability and mining centralization. BTC is not platform and has limited abilities, It is very hard to conceive consensus in the future for some major changes.
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