Updated process for rapid deployment of the ZK Proof Verification blockchain

Summary
The forthcoming zero-knowledge proof verification blockchain presents exciting opportunities for the Horizen ecosystem. Moving forward, Horizen Labs will manage development and bear the associated costs of building out the ZKPV blockchain, which ultimately will contribute to a new decentralized ecosystem. It is desired for the Horizen community to play a key role within this anticipated ZKPV ecosystem. There is an advantageous opportunity for $ZEN to migrate along with EON to a new tech stack that could form the core of a “hub for ZK” and the application environment for the ZKPV blockchain. As early adopters of the new ZKPV ecosystem and by taking actions in support of its launch and advancement, both $ZEN holders and the Horizen DAO would satisfy eligibility criteria to participate in allocation categories of the desired new token for the ZKPV ecosystem.

Specifics
The upcoming zero-knowledge proof verification (ZKPV) blockchain project is an exciting development for the Horizen Community. Over the past month, we at Horizen Labs have held conversations with many $ZEN holders from across the community. As the development team behind ZKPV and as a technical service provider to the Horizen ecosystem, we have listened, and what we have heard is:

  • ZK proof verification solves a real problem in the industry, the timing is right, and this solution should get to market quickly
  • The team should move fast to get it built and go to mainnet as soon as possible
  • $ZEN must play an integral role in the new system
  • The tokenomics of $ZEN must be preserved: the 21 million total supply of $ZEN cannot change

Given 1) the feedback we’ve received; 2) the need to move as fast as possible; and 3) the costs to deliver ZKPV chain expeditiously, we’re announcing a new path to bring the ZKPV blockchain to market.

This path will ensure that we:

  • Move fast – by bringing the ZKPV chain to production before the end of 2024.
  • Keep $ZEN holders involved with the ZKPV chain in a meaningful way
  • Support the implementation of a token native to the ZK Proof Verification blockchain that is optimized for the project’s success
  • Maintain regulatory compliance and reducing potential regulatory risks

Under this approach, HL will rapidly develop the new ZKPV blockchain and then contribute this technology to a new decentralized ecosystem, which would include a new foundation, DAO, and native token for utility and governance.

As the community has made clear in recent weeks, a new token for the ZKPV chain is preferable to moving $ZEN to become the native token of the new blockchain. Given the clear message from the community is that the ZKPV chain needs a new token, it follows that it is necessary for a new ecosystem to own and manage the new protocol to ensure $ZEN maintains its fair launch regulatory posture.

This is where there is a big opportunity for the Horizen community and the ecosystem at large.

By working with the Horizen community, a ZKPV ecosystem has the opportunity to immediately bring onboard a large and active group who believe in the power of ZK proofs to turbocharge the blockchain industry.

Over the years, the Horizen community has seen the progression of zero-knowledge cryptography from zk-SNARKs for private payments, to zk-SNARKS used in the Zendoo Cross Chain Transfer Protocol, to now seeing zk-rollups for Ethereum, and soon Bitcoin. This community understands the power of ZK proofs.

The opportunity is for $ZEN to play an important part in bringing the ZKPV blockchain to the rest of the web3 space. ZK proof verification needs to have a closely connected EVM-compatible blockchain in order to work with the rest of web3 – specifically, an execution environment for applications. Horizen already has such an EVM with $ZEN as the token - Horizen EON.

The Horizen community has a promising opportunity to recommend and ultimately direct that the Horizen Foundation work to establish an agreement with the anticipated ZKPV ecosystem to assist in the migration of EON and $ZEN to a new single, EVM-compatible blockchain–along the lines of the vision Rob laid out in his April blogpost. This is just one way in which a distinct ZKPV ecosystem can benefit the Horizen community. Another benefit is that the cost of developing and bringing to market the ZKPV chain will not be borne by the Horizen community. And moreover, it is our strong belief that, per the vision in Rob’s blog post, any ecosystem token for the ZPKV ecosystem should directly benefit $ZEN holders.

In light of this, moving forward, Horizen Labs will continue to manage the development costs associated with the ZKPV buildout to ensure ZKPV blockchain speed to market while having the ability to work with many different partners in an efficient and effective way. The Horizen community should focus on the next steps for $ZEN and not be encumbered with ZKPV decisions. Horizen Labs will have no further obligations to the Horizen DAO with respect to ZenIP 42400. Horizen Labs has incurred all costs associated with ZKPV to-date.

The Horizen community has a significant opportunity to have meaningful involvement and a mutually beneficial relationship with the forthcoming ZK Proof Verification ecosystem. While it is ultimately up to the Horizen community to decide the preferred path forward, one option could include proposing that all $ZEN be moved to a new version of EON that would be coupled with a ZK Proof Verification blockchain and ecosystem.

The team at Horizen Labs looks forward to seeing what the Horizen community decides on the path of $ZEN / EON migration. We also look forward to continuing to support the Horizen ecosystem as a longstanding and leading service provider.

11 Likes

“Yes, time waits for no one. If everything requires community communication through DAO, it will be one step slower than competitors.”

3 Likes

100% support.Perfectly integrate the old zen into the new zen

3 Likes

In addition to co-founding Horizen with Robert Viglione in 2017, I am also Director of business development for Horizen Labs since the beginning of 2024

I have been talking with other ZK projects in the space for the past few months, worked closely with Horizen Labs software development team, managers, project managers, legal, marketing, and executives.

We are all aligned together on getting the ZK proof verification block chain running on mainnet with a complete ecosystem fully operating as soon as possible.

We are committing to getting this done before the end of 2024, and internally we are pushing to get this done as rapidly as possible. Will be providing regular updates on progress.

Thank you to everyone who has already expressed support for this new and decisive path to success!

3 Likes

This sounds like a much faster and better way to get the new chain up and running vs having public RFPs and voting for every tiny detail while draining ZEN treasury funds. It also shows to me HL has a lot of confidence in the project by taking all the financial risk up front. I believe the community is 100% onboard with the move to EON 2.0 and would want whatever path gets there fastest. I look forward to the vote to solidify specifics on ZEN’s move and ZkPV allocation. Exciting times!

4 Likes

A good mechanism can attract popularity, but better prices can attract more people to build communities, thus forming a virtuous circle. Most people are in it for investment, and if this precondition is not met, how can people devote more energy to building communities? Please understand the truth that productivity drives economic development, and only when the economy develops can productivity be upgraded. Here economic development is the price of sustained and steady growth.

2 Likes

If the ZK proof verification ecosystem would like active participation of Zen holders, then it would make sense to economically incentivize Zen holders to participate.

2 Likes

I am surprised a new token would have its own a DAO. This makes ZEN obsolete. I was under the impression ZEN would be the governance and DAO in control of the new chain. Considering this I am not in favor of a new token. I would rather see ZEN supply increased and Diluted rather than lose control of the new chain. The ZEN DOA voted to create it and the intention was never to lose control of the new chains DOA in the process.

1 Like

In my view, this is a win-win situation for both the Horizen Foundation & the community. Horizen Labs is bearing all the costs of developing ZKVP, which leaves the ZEN community with all its upside intact. The tokenomics of ZEN are preserved and it migrates to a new tech stack that plays a key role within the new ecosystem (pending community approval).

The delivery of ZKVP is being expedited, the go-to-market strategy is a key component here. Having first-mover advantage is crucial. In a previous post by Rob, there was mention of a potential allocation to ZEN holders. He stated, “A new token is adopted for the proof verification layer and I feel that the community should only support and adopt a new token plan that provides $ZEN holders with a significant allocation for their actions in supporting the ecosystem."

Overall, I fully agree with this direction as the community retains all the upside. It’s in everyone’s best interest to expedite ZKVP delivery.

3 Likes

Adding to the total amount of Zen, or launching a new token, were both discussed extensively in discourse, on discord, in telegram, and in AMA’s on X.

The majority of the community, as far as I can tell, were not interested in those two options.

We did not progress to a vote from the community because of the negative sentiment.

The negative sentiment was both toward the ideas and the development teams working to make the new idea possible and successful.

In my opinion we spent too much time working to engage the Horizen community in the plan. We are moving forward without further delay.

ZEN holders, through a vote an an upcoming zenIP, still has the opportunity to play a big part in the success by bringing over an EVM, the historical track record of Horizen, and an engaged community

3 Likes

That’s great, I’m assuming HL considering bringing the current ZEN tokens to EON and airdropping tokens of the new chain to ZEN token holders as Rob mentioned in his blog.

2 Likes

excited to see the moving forward quickly and hope for a collaborating effort between Horizen DAO and Horizen Labs as usual :+1:

1 Like

One of the things that we learned in the past is if you would like a specific action to happen, then it helps to pay people to accomplish that action.

Part of the reason new tokenomics is necessary is to be able to provide incentives.

A community of believers who have been involved for many years, that started with the vision that zero knowledge proofs can help to improve crypto, who have been involved through the ups and downs along the way, is an ideal community for a new project based around zero knowledge proofs

Maybe there will be a way to somehow use these new tokens, that are designed for incentives, to incentivize the ZEN holders to become part of the zero knowledge proof verification community also

1 Like

I guess I will just let HL run things and stop wasting my time trying to be involved in a DAO

You should remain involved. As a community, we have big decisions to make on the path forward for EON and ZEN’s role in it. A few weeks ago, there was an idea post about relooking zen tokenomics, there was a loud negative sentiment to keep ZEN and the supply as-is. The way I see the direction with the zk proof verification chain and it’s association with ZEN is that it’s win/win for the Horizen community. After all, EON will be the flagship EVM.

1 Like