Horizen Lures Institutional Product Offerings With Latest Network Upgrades
The Horizen team has announced two new upgrades to its ecosystem. First is the Single Address Staking feature with alternate payout addresses and the second is its new Stake Verification Tool. Both additions are expected to usher in new opportunities for institutional product offerings, as well as expand the utility for Super Node operators.
The Single Address Staking feature will allow multiple staked amounts from different nodes to be stacked in one ZEN address. This eliminates the need for having different addresses for each node. Instead, only one stake address can handle the payout of up to five ZEN addresses. According to Horizen, this will greatly reduce the management required when operating multiple nodes.
Users who operate multiple nodes can configure the destination address of payouts; consequently, removing the need for batch withdrawals from individually staked addresses. The move to implement a single stacked address is also expected to improve wallet performance since the total number of transactions will be reduced.
The Stake Verification Tool, on the other hand, allows Super Node holders to prove ownership of a transparent stake address. Interestingly, this is now a requirement for Single Address Staking.