Horizen is charting a new course for the future of blockchain with its New Horizen initiative, which is building a modular proof verification layer dedicated to verifying cryptographic proofs for any settlement layer, starting with Ethereum.
Therefore, New Horizen will modernize Horizen's existing technology stack and ensure that it better aligns with the Web3 industry as a whole. It will build on the legacy of Horizen Mainchain and its other Zero-Knowledge-based versions while integrating new industry-leading technologies. In doing so, it future-proofs Horizen's Layer-0 network to unlock far greater value for its ecosystem participants, leveraging existing needs in the Web3 space.
One of the biggest problems with modular Web3 protocols today is the issue of volatile and expensive proof verification costs for Layer 2 networks, especially those based on ZK-Rollup architectures.
Generic blockchain settlement layers are not designed to support proof verification natively, leading to significant tradeoffs between cost, security, and speed, as well as exorbitant and often unpredictable fees. According to calculations by Horizen Labs based on publicly available data on block explorers, the annual spending of ZK-Rollups on proof verification amounted to $50 million in 2023. This figure is expected to reach more than billion dollars by 2028, taking into account the expected increase in ZK-Rollups. Accumulations.
According to L2BEAT, the ZK-Rollup sector saw significant expansion in 2023, with 20 active projects and 18 more expected to launch in 2024, representing growth of around 90% and highlighting the vast potential of the sector. With such growth, we expect almost a doubling of the number of active ZK-Rollups and Validiums each year between 2024 and 2028. By 2028, a projected total of approximately 500 ZK-Rollups and Validiums is expected, as well as a dramatic increase in the costs of verifying evidence, exceeding $1 billion.
“With New Horizen, we’re not just adapting to today’s landscape; we are actively shaping the future of blockchain technology. Our goal is to make blockchain more accessible, more efficient and more profitable for everyone. By addressing the critical challenge of proof verification costs, we are paving the way for a more scalable, secure, and user-friendly Web3 ecosystem. – Rob Viglione, co-founder of Horizen and CEO of Horizen Labs.
With an optimized and modular proof verification layer that exists separately from the rest of the blockchain stack, New Horizen is perfectly positioned to solve this major proof verification cost issue. Similar to how the industry has already adopted distinct layers of execution and data availability, New Horizen intends to build a dual-chain blockchain architecture in which proof verification is handled by an independent blockchain and dedicated, highly optimized for performance.
Through its specialized verification layer, New Horizen has extensively investigated the potential to reduce evidence verification costs by more than 90% on average, reportedly saving ZK-Rollup users $43 million. dollars in combined costs in 2023 alone.
A dedicated proof verification layer will provide the Web3 industry with a clear path to achieving lower and more predictable verification costs, supported by infrastructure customized to meet the demands of modern blockchains. In this way, the initiative promises to reinvent blockchain architectures as modular networks, paving the way for them to evolve in a more sustainable and competitive way.
New Horizen was built by the experienced Horizen Labs team, which has deep expertise in zero knowledge and a proven track record in delivering protocols and interoperability tools based on ZK as well as EON, the EVM-enabled smart contract platform designed for scalability.
Ultimately, New Horizen will become the go-to blockchain layer for proof verification, leading to greater collaboration and adoption of EON, ZEN, and other Horizen projects.
About Horizen
Launched in 2017, Horizen is a proof-verification network that makes settlement cost-effective for modular blockchain stacks. Horizen redefines blockchain infrastructure, enabling layer 2 platforms to scale efficiently and sustainably in the competitive Web3 ecosystem.
This offering sits alongside Horizen EON, an EVM-enabled smart contract platform and the first of many smart contract sidechains in the Horizen ecosystem. Horizen EON allows developers to efficiently build and deploy decentralized applications (dapps) on Horizen while benefiting from EVM compatibility.
Horizen is charting a new course for the future of blockchain with its New Horizen initiative, which is building a modular proof verification layer dedicated to verifying cryptographic proofs for any settlement layer, starting with Ethereum.
Therefore, New Horizen will modernize Horizen's existing technology stack and ensure that it better aligns with the Web3 industry as a whole. It will build on the legacy of Horizen Mainchain and its other Zero-Knowledge-based versions while integrating new industry-leading technologies. In doing so, it future-proofs Horizen's Layer-0 network to unlock far greater value for its ecosystem participants, leveraging existing needs in the Web3 space.
One of the biggest problems with modular Web3 protocols today is the issue of volatile and expensive proof verification costs for Layer 2 networks, especially those based on ZK-Rollup architectures.
Generic blockchain settlement layers are not designed to support proof verification natively, leading to significant trade-offs between cost, security, and speed, as well as exorbitant and often unpredictable fees. According to calculations by Horizen Labs based on publicly available data on block explorers, the annual spending of ZK-Rollups on proof verification amounted to $50 million in 2023. This figure is expected to reach more than billion dollars by 2028, taking into account the expected increase in ZK-Rollups. Accumulations.
According to L2BEAT, the ZK-Rollup sector saw significant expansion in 2023, with 20 active projects and 18 more expected to launch in 2024, representing growth of around 90% and highlighting the vast potential of the sector. With such growth, we expect almost a doubling of the number of active ZK-Rollups and Validiums each year between 2024 and 2028. By 2028, a projected total of approximately 500 ZK-Rollups and Validiums is expected, as well as a dramatic increase in the costs of verifying evidence, exceeding $1 billion.
“With New Horizen, we’re not just adapting to today’s landscape; we are actively shaping the future of blockchain technology. Our goal is to make blockchain more accessible, more efficient and more profitable for everyone. By addressing the critical challenge of proof verification costs, we are paving the way for a more scalable, secure, and user-friendly Web3 ecosystem. – Rob Viglione, co-founder of Horizen and CEO of Horizen Labs.
With an optimized and modular proof verification layer that exists separately from the rest of the blockchain stack, New Horizen is perfectly positioned to solve this major proof verification cost issue. Similar to how the industry has already adopted distinct layers of execution and data availability, New Horizen intends to build a dual-chain blockchain architecture in which proof verification is handled by an independent blockchain and dedicated, highly optimized for performance.
Through its specialized verification layer, New Horizen has extensively investigated the potential to reduce evidence verification costs by more than 90% on average, reportedly saving ZK-Rollup users $43 million. dollars in combined costs in 2023 alone.
A dedicated proof verification layer will provide the Web3 industry with a clear path to achieving lower and more predictable verification costs, supported by infrastructure customized to meet the demands of modern blockchains. In this way, the initiative promises to reinvent blockchain architectures as modular networks, paving the way for them to evolve in a more sustainable and competitive way.
New Horizen was built by the experienced Horizen Labs team, which has deep expertise in zero knowledge and a proven track record in delivering protocols and interoperability tools based on ZK as well as EON, the EVM-enabled smart contract platform designed for scalability.
Ultimately, New Horizen will become the go-to blockchain layer for proof verification, leading to greater collaboration and adoption of EON, ZEN, and other Horizen projects.
About Horizen
Launched in 2017, Horizen is a proof-verification network that makes settlement cost-effective for modular blockchain stacks. Horizen redefines blockchain infrastructure, enabling layer 2 platforms to scale efficiently and sustainably in the competitive Web3 ecosystem.
This offering sits alongside Horizen EON, an EVM-enabled smart contract platform and the first of many smart contract sidechains in the Horizen ecosystem. Horizen EON allows developers to efficiently build and deploy decentralized applications (dapps) on Horizen while benefiting from EVM compatibility.