Staking Horizen (ZEN) is a fantastic way to actively participate in one of the most innovative blockchain ecosystems while earning rewards. Known for its focus on privacy and scalability, Horizen stands out with its advanced sidechain solution, Zendoo. This unique feature allows developers to create both public and private blockchains and decentralised applications, offering unmatched flexibility in speed, security, and customisation.
What sets Horizen apart is its use of zero-knowledge proof protocols (zk-SNARKs) for secure and private communication. Additionally, the platform supports EVM compatibility through its EON sidechain, making it a robust choice for developers. By staking ZEN, you help secure the network and contribute to its groundbreaking innovations while unlocking potential rewards.
Are you curious to get started? Let’s explore how you can stake your Horizen tokens today!
How To Stake Horizen (ZEN)?
Staking Horizen (ZEN) tokens are a smart way to earn passive rewards while supporting the network’s security. If you’re new to staking please note ZEN can be staked on two different platforms:
- Through MyCointainer
- Through Forger Node on the EON
In this article, we’ll discuss both methods. So, let’s begin.
How To Stake Horizen Token On MyCointainer?
Here’s how you can stake ZEN on the MyCointainer platform:
Step 1: Obtain Horizen (ZEN) Tokens
To stake Horizen, you first need to own ZEN tokens. You can purchase these tokens from reputable crypto exchanges like Binance, BitMart, or Coinbase. Each platform offers a secure and user-friendly experience for buying cryptocurrencies. Once you’ve bought ZEN, you’ll be ready to move forward. Need help buying ZEN?
Step 2: Choose A Wallet To Store Your Horizen
After purchasing ZEN, the next step is to store your tokens securely. Choose a wallet that supports Horizen, such as MyContainer, which also allows you to stake ZEN tokens directly. MyContainer offers an attractive Annual Percentage Yield (APY) of up to 5.78%, making it a great choice for staking.
Step 3: Sign Up Or Log In To MyContainer
If you’re new to MyContainer, start by creating an account on their platform. The sign-up process is straightforward and quick. If you already have an account, log in with your credentials to access your dashboard.
Step 4: Deposit Your ZEN Tokens
Once logged in, deposit your ZEN tokens to begin staking.
- Navigate to the “Deposit” section in your account.
- Select the “I already have coins” option and search for Horizen (ZEN) in the list.
- Click on “Generate Address” to obtain a unique wallet address for your ZEN tokens.
- Transfer your ZEN tokens to this address.
Ensure that your wallet has confirmed the transaction before proceeding.
Step 5: Start Staking And Earning Rewards
After your deposit is confirmed, MyContainer will automatically activate staking for your ZEN tokens. This process involves validating transactions on the Horizen network, and you’ll earn ZEN rewards for your contributions. The rewards are credited directly to your account, making the staking experience seamless and rewarding.
How To Stake Horizen On The EON Forger Node Platform?
Here’s how you can stake ZEN on the EON Forger Node platform:
Step 1: Install MetaMask
To start staking, you need a MetaMask wallet. If you don’t already have one, download and install the MetaMask extension or app. Follow the prompts to create your wallet and securely store your recovery phrase. This wallet will act as your gateway to the Horizen EON network.
Step 2: Add Horizen EON Network
MetaMask needs to connect to the Horizen EON network. Add this network manually by entering its details in the MetaMask settings. You can find the network configuration details on the official Horizen website. Adding the EON network enables MetaMask to interact with the staking platform.
Step 3: Deposit ZEN Tokens
Transfer your ZEN tokens to your MetaMask wallet. Use the wallet address displayed in MetaMask and send the tokens from your current wallet or exchange. Ensure you send enough tokens to cover staking and transaction fees.
Step 4: Connect Your Wallet
Visit the Horizen EON staking website. Click the “Connect Wallet” button, usually located in the upper-right corner of the page. Approve the connection request from MetaMask to link your wallet to the platform securely.
Step 5: Stake ZEN
Navigate to the “Stake ZEN” section on the staking platform. Enter the amount of ZEN you wish to stake in the “Add Stake” field. Double-check that your wallet balance covers the stake and transaction fees. Click the “Stake” button. MetaMask will display a confirmation request for the staking contract. Approve the transaction to finalise the staking process.
Step 6: Confirm Transaction
Wait approximately 20 seconds for the transaction to confirm. Once completed, your staked ZEN and accumulated rewards will appear in the “Reward – your stake and earnings” section on the platform.
Popular Video Guides On Staking Horizen (ZEN)
Best Places To Stake Horizen (ZEN)
MyCointainer is a fully automated staking platform designed for earning rewards on Proof-of-Stake (PoS) cryptocurrencies. It simplifies the staking process, making it accessible to beginners and experienced traders alike. The platform supports staking for multiple PoS assets simultaneously and offers features like automated staking, a fiat-to-crypto gateway, and direct interest rewards. With regulation by the Financial Intelligence Unit (FIU), MyCointainer ensures the safety of users' funds. The platform’s subscription-based service, MyCointainer Power, allows advanced users to optimise their staking experience by waiving fees through monthly plans.
Pros:
- User-friendly interface suitable for all experience levels.
- Automated staking eliminates the need for active management.
- Regulated by the Financial Intelligence Unit, ensuring security.
- Offers fiat-to-crypto gateway for easy onboarding.
- Profit-based fees apply only to generated rewards.
- MyCointainer Power subscription waives fees for enhanced profits.
Cons:
- The fee structure lacks clarity.
- Occasional glitches may affect website performance.
- Popular tokens missing from cold staking options.
Eon Forger Node operates on Horizen's Ethereum Virtual Machine (EVM), combining Ethereum’s account-based transaction model with Horizen’s blockchain capabilities. The system differentiates accounts into Externally Owned Accounts (EOAs) and Contract Accounts, both of which hold balances. Users stake a specific amount of coins to become Forgers, enabling them to participate in block creation. Higher stakes increase block-forging opportunities. While staked, the coins remain locked and unavailable for use, ensuring network integrity. Once unstacked, the assets become accessible for disposal.
Pros:
- Combines Ethereum’s EVM compatibility with Horizen’s blockchain features.
- Enables users to earn rewards through block creation.
- Higher staking amounts increase block-forging opportunities.
- Transparent staking mechanics ensure user engagement.
- Differentiation between account types enhances operational flexibility.
Cons:
- Locked staking restricts access to funds during the staking period.
- Requires a significant amount of coins to maximise forging chances.
- Unstaking processes might delay access to funds.
- Limited to users familiar with Horizen’s staking ecosystem.
Benefits Of Staking Horizen (ZEN)
Staking Horizen provides a unique opportunity to earn rewards while supporting the growth and security of the Horizen network. As a leading blockchain platform focused on scalability and privacy, Horizen allows users to participate actively in its ecosystem through staking. This process involves locking your ZEN tokens to contribute to network operations and earning benefits in return. Let’s explore the key advantages of staking Horizen in more detail.
Earn Passive Income
Staking ZEN enables you to earn rewards in the form of additional ZEN tokens or transaction fees. By participating in the staking process, you create a steady income stream without the need for active trading. This makes staking an attractive option for long-term holders who want their investment to grow over time.
Strengthen Network Security
When you stake ZEN, you help secure the Horizen network. Validators and liquidity providers play an essential role in verifying transactions and maintaining the network’s integrity. Your contribution helps Horizen remain resilient against attacks and ensures reliable performance for all users.
Reduce Transaction Costs
Horizen boasts lower transaction fees compared to many other blockchain networks. This cost efficiency benefits users and developers, making staking even more rewarding as you enjoy seamless and affordable transactions.
Boost Network Scalability
Horizen’s staking model contributes to the scalability of the network. Supporting a higher number of transactions per second ensures a faster and smoother user experience that caters to the needs of a growing user base.
Contribute To Environmental Sustainability
Staking ZEN consumes significantly less energy compared to proof-of-work blockchains. This eco-friendly approach aligns with sustainable development goals and positions Horizen as a greener alternative in the blockchain space.
Participate In Decentralised Governance
Staking ZEN gives you a voice in the Horizen ecosystem. As a token holder, you can propose and vote on critical decisions, including protocol upgrades, fee structures, and future developments. This democratic process ensures that the community shapes the platform’s evolution.
Frequently Asked Questions
What Is Zen Staking?
Zen staking allows users to support the Horizen network by staking ZEN tokens. By participating in staking, users help secure the network and validate transactions. In return for their contributions, they receive staking rewards. This process incentivises community involvement while maintaining the network’s stability and security.
How Many ZEN Tokens Do You Need To Stake?
To stake ZEN tokens, a minimum of 10 ZEN is required, including all delegated amounts. This threshold ensures that forgers—those responsible for proposing new blocks—meet the eligibility criteria to participate in the network’s operations and earn rewards.
Are There Any Risks Of Staking ZEN Tokens?
Yes, staking ZEN tokens comes with certain risks. The value of your staked tokens may be affected by market volatility, as cryptocurrency prices can fluctuate significantly. Additionally, technical issues like hardware failures or network disruptions can impact the staking process and your rewards.
How Often Are Staking Rewards Paid Out For Horizen?
The frequency of staking rewards for Horizen varies and depends on network dynamics, including the number of participants and the overall activity on the blockchain. It is advisable to monitor the network or refer to the staking platform for updates on reward distribution schedules.
