Deep Dive
1. Migration to Base (23 July 2025)
Overview: Horizen migrated from its native blockchain to Base (Ethereum L2), converting ZEN into an ERC-20 token. This ended its legacy UTXO mainchain and EON sidechain.
The codebase overhaul included EVM compatibility, enabling seamless integration with DeFi protocols like Uniswap and Aerodrome. Security audits by Halborn and Cantina confirmed the migration contracts’ integrity.
What this means: This is bullish for ZEN because it improves liquidity via Ethereum’s ecosystem and reduces transaction costs. Users gain access to wallet-level privacy features (e.g., stealth addresses) through Singularity integration. (Source)
2. Node Upgrade ZEN 5.0.7 (11 June 2025)
Overview: A mandatory upgrade for mainnet nodes, deprecating ZEN 5.0.6 at block #1,783,180.
The update focused on network stability and security, with no hard forks. Node operators had to upgrade by June 11 to avoid disruptions.
What this means: This is neutral for ZEN because it ensures continuity but doesn’t add new features. The emphasis on backward compatibility minimizes risks for validators and users. (Source)
3. Protocol Whitepaper Release (2 December 2025)
Overview: Horizen released a whitepaper detailing its Confidential Compute Environment (HCCE) and Horizen Chain for audit-ready privacy on Base.
The architecture combines zero-knowledge proofs with decentralized proof generation, targeting institutional DeFi and compliant confidential transactions.
What this means: This is bullish for ZEN because it positions Horizen as a privacy layer for high-value use cases (e.g., enterprise apps) while staying integrated with Base’s liquidity. (Source)
Conclusion
Horizen’s codebase shifts reflect a strategic pivot toward scalable, compliant privacy on Ethereum’s infrastructure. The Base migration and whitepaper signal a focus on institutional adoption and DeFi integration. How will decentralized proof generation impact ZEN’s role in cross-chain privacy?