Shielded pool to be deactivated on the Horizen mainchain

On February 7, ZEN will implement a community scaling operation involving the mainnet and a tough fork. Subsequently, the shielded pool will probably be rendered fully inactive. It is suggested that every one funds be transferred from the shielded pool previous to that point.

The lack of shielded ZEN will consequence if one is unable to take away the shielded ZEN from shielded addresses previous to the onerous fork. The onerous fork, nevertheless, gained’t have an effect on the clear ZEN; solely the shielded ZEN.

This occurred after the passing of ZenIP 42207 in direction of the start of 2024. It introduced concerning the whole withdrawal of the shielded pool from the Horizen mainchain. Because of this, ZenIP 42204 undervalued connectivity with the shielded pool, which responds to the consistently shifting regulation panorama for privateness tokens. The result’s that it’s going to disable non-public transactions on Horizen and supply connectivity with non-public addresses. 

With impact from February 7, 2024, this may consequence within the full elimination of all non-public fee capabilities supplied by Horizen. Its capability to ship and obtain non-public funds in Horizen will probably be misplaced. With the help of Horizen, nevertheless, it’s going to stop to be a privateness cryptocurrency and might be utilized for traditional public transactions like Bitcoin.

Reiterating the advice, it’s necessary for all customers who’ve funds in non-public addresses to switch these funds to their very own clear addresses by February 7, 2024, utilizing zen-cli or Sphere by Horizen. Customers will probably be unable to switch funds from the shielded pool to a different tackle after the required date. Transferring funds on to trade deposit addresses with out shielding just isn’t suggested.