• Horizen has launched its Ethereum Open Network (EON) sidechain, an Ethereum Virtual Machine (EVM) compatible smart contracting platform.
• The team has partnered with Immunefi to launch a $75,000 bug bounty program to incentivize white hat hackers to find vulnerabilities on the platform.
• Horizen says its new platform is already attracting adoption from early participants who are now building on the EON platform.
Horizen Launches Ethereum Open Network Sidechain
Horizen has launched its Ethereum Open Network (EON), an Etheruem Virtual Machine (EVM) compatible smart contracting sidechain that enables efficient development and usage of decentralized applications and services. The sidechain is based on proof-of-stake (PoS) and is permanently hosted on Gobi testnet.
$75k Bug Bounty Program
To ensure the new Horizen EON sidechain has near-zero vulnerabilities, the team has partnered with Immunefi, a web3 bug bounty platform, to launch a $75,000 bug bounty program to incentivize white hat hackers to identify loopholes in the system. Additionally, Horizen plans to roll out more security and developer incentive programs including hackathons and a developer grant program on Horizen EON.
Developer Tools & Adoption
To support developers building dApps on the network, Horizen provides several tools such as MetaMask, Thirdweb and more. This makes it easy for solidity devs to deploy custom logic seamlessly onto the blockchain. With these tools in place, Horizen says their new platform is already attracting adoption from early participants who are now building on the EON platform.
ZEN Price Movement
At the time of writing Horizen’s native cryptocurrency ZEN was trading around $9 according CoinGecko data.
Conclusion
Horizens’s launch of its Ethereum Open Network provides an EVM-compatible sidechain that supports efficient development of decentralized applications and services as well as secure bridging protocol between ecosystems. In addition, it also offers incentive programs for developers looking to build on their network as well as bounties for white hat hackers seeking out vulnerabilities in their system