CRYPTO ACADEMY WEEK 7 HOMEWORK POST FOR [@besticofinder]||24-03-2021|How To Invest in Cryptocurrencies - A beginners Guide - Part 2 ||
INTRODUCTION
Investing in cryptocurrency is a good investment but one has to trade with care and not invest all his money in a particular cryptocurrency.Proper market analysis is very important in crypto trading.
In this homework post I will make a comparison of HORIZEN(ZEN) and QUANT(QNT).
Horizen ranked at 109 and Quant ranked 113
HORIZEN(ZEN)
Horizen(ZEN) is a cryptocurrency which is aimed at providing privacy.Although the privacy depends on the users(the user chooses if he wants privacy or not).Currently Horizen(ZEN) is valued at $52.87.
The main aim of the creators of ZEN is to promote crypto transactions,communicate with
one another and also offer the user the
possibility to chose to hide traces of transactions like transaction amount,detail of sender and details of the receiver.This a high level of privacy.
The native crypto coin used on Horizen is ZEN which is rewarded to miners.
Markets on Horizen
Socials on Horizen
THE HORIZEN TEAM
Gilbert Verdian the Chief Executive Officer and other stakeholders has managed the fundraiser of HORIZEN and has raised up $11,000,000 amid competition from WAN,Polkadot and Cosmos among others.
QUANT(QNT)
QUANT is another Cryptocurrency which is valued at $42.79 presently.
QNT could be said to be tokens whose main role is to grant digital access to a particular service or an application which are made part of the Quant platform.It is worthy to note that the access is provided to both users and developers.
Socials on Quant
Markets on Quant
Furthermore,the quant is based on the Quant Network which is a blockchain used to connect multiple platforms,applications and distributed ledgers.Those ledger Intergration services are possible because Quant Network is built around overledger operating system.
THE QUANT TEAM
The QUANT TEAM has a big plan to expand the use of Overledger which places Quant Network above other competitors.
The team has also had alliance with a lot of organisations and plans to do even more.
COMPARING HORIZEN(ZEN) AND QUANT(QNT) IN TERMS OF PROJECT CONCEPT
Apart from cryptocurrency transaction and communication on the blockchain.The main project concept of Horizen(ZEN) is to establish top-notch privacy(keeping transaction records private)and this would be achieved through zero knowledge cryptographic tools.
On the other side of the divide,the main project concept of Quant(QNT) is to integrate multiple ledgers through the design,deployment and execution of multiledger decentralized application through a technology called overledger.
COMPARISON IN TERMS OF PRICE,MARKET CAPITALIZATION,TRADE VOLUME etc
| PARAMETERS | HORIZEN(ZEN) | QUANT(QNT) |
|---|---|---|
| PRICE | $52.87 | $42.79 |
| TRADING VOLUME | $45,430,892 | $7,813,582 |
| MARKET CAPITALIZATION | $575,984,135 | 515,533,879 |
| CIRCULATING SUPPLY | 10,894,431 ZEN | 12,072,638 QNT |
I used the table to make quick comparison between HORIZEN(ZEN) and QUANT(QNT).
ADVANTAGES OF HORIZEN(ZEN)
•TOP-NOTCH PRIVACY
Horizen(ZEN) provides a high level of privacy to the users.Infact privacy is the blue-print of the Cryptocurrency ZEN.
This privacy is made possible through ZK snark cryptography which makes it possible to hide the identity of sender and recipient of ZEN.
•DISTRIBUTED BENEFIT
In HORIZEN,every stakeholder viz miners, Super Node Operators,Secure Node Operators and Treasury,all get a percentage rewards.
•NON-COMPULSORY PRIVACY
The privacy of HORIZEN is never compulsory.A user chooses if to make his transactions private or not.This is freedom at its peak.
•WIDE USABILITY
HORIZEN does not only provide a user friendly environment.It also allows a lot of other users So it is open to both 'Dick and Harry's which is a good step towards the growth of the crypto.
•GREATER NUMBER OF NODES
It is important to note that HORIZEN has the highest number of nodes in the blockchain network even above Bitcoin and Ethereum network.
•LUCRATIVE CRYPTO
Even though it is ranked below 100 in the market.It still has a value of above 50unit of the world currency:$52.87.
ADVANTAGES OF QUANT(QNT)
•It helps bring an end to double reconciliation as new assets can be created without any coding.
•It is Beneficial in the health sector and it helps to keep electronic records of patients and other vital medical information.
•The "Overledger " technology makes it possible to unite(integrate) old and new ledger together.This is a step in the right direction.
•The QUANT network affords developers the opportunity to build multi-chain applications for users.
MY CHOICE
Between the two cryptocurrencies.I will go for Horizen (ZEN) because it offers high level of privacy,good returns and even distribution of rewards to all stakeholders unlike other platforms that rewards only the miners.
Another reason why I chose ZEN is that it has a higher USD price value($52.87) as compared to other cryptos ranked between 100 to 200 range.The trade volume,market capitalization is a good indicator that the ZEN is promising and would be a good investment for the future.
Special thanks to @besticofinder @steemcurator02 @steemcurator01 @trafalgar
REFERENCES
Reference
This post is yet to be reviewed by Professor @besticofinder ...I hope he does that so that I can take corrections in the case of any mistake or shortcomings.This is the 5th day of the homework post.