• Horizen announces the launch of its Ethereum Open Network (EON) sidechain.
• The team has launched a $75,000 bug bounty program with Immunefi to find and report vulnerabilities on the platform.
• Horizen EON supports various developer tools like MetaMask, Thirdweb and more, attracting early adoption from developers.
Horizen Launches Ethereum Open Network Sidechain
Horizen has announced the launch of its Ethereum Open Network (EON) sidechain, an Ethereum Virtual Machine (EVM) compatible smart contracting platform on the permanent Gobi testnet. The EON sidechain enables efficient development and usage of decentralized applications (dApps) and services. It also ushers in EVM compatibility to the Horizen ecosystem, making it possible for solidity devs to deploy custom logic to the blockchain seamlessly.
Launch of Bug Bounty Program
To ensure near-zero vulnerabilities in the new sidechain, Horizen has partnered with Immunefi – a web3 bug bounty platform – to launch a $75,000 bug bounty program that incentivizes white hat hackers to find and report any loopholes discovered in their system. Additionally, there are plans for further security programs as well as hackathons and grants for developers working on projects within the EON network.
Developer Tools Supported by Horizen EON
Horizen EON supports several developer tools such as MetaMask and Thirdweb which is encouraging early adoption from builders who are now building applications on this platform. As a result of this increased adoption, use cases have expanded across different industries such as finance, healthcare etc., allowing users access to more secured applications built with custom logic deployed on blockchain networks.
Impact of Launch on ZEN Currency Price
The news of Horizen’s latest project launch has seen an increase in demand for their native cryptocurrency ZEN which is currently exchanging hands at around $9 per coin at the time of writing this article according to CoinGecko data. This is likely due to investors speculating that more developers will be attracted towards building dApps using their layer-0 public blockchain technology as well as other products within their ecosystem which will drive up demand for their token over time if successful.
Conclusion
In conclusion, Horzen’s latest launch sees them expand into providing EVM compatibility for developers through their new sidechain network along with launching a bug bounty program alongside various other incentives for developers looking to build projects within their ecosystem. All eyes are now set upon how well this project performs once it goes live onto mainnet after testing out all bugs reported by white hat hackers during its current testing phase on Gobi testnet
