Horizen (ZEN) which is an important turning point for the ecosystem Shielded Pool The Hard Fork was successfully activated on the Horizen mainchain at Block Height 1502800 earlier today.
Horizen Completes Hard Fork: ZEN Moves Away from Privacy Token Status
With this development, it has now become official. ZEN is no longer classified as a privacy token.
Following the hard fork, all transactions involving the Shielded Pool will be rejected and only transparent transactions (t -> t) will be accepted going forward. Notably, mining pools are operating as expected and regular mining continues unaffected.
This achievement is the result of a community-driven process that began with the successful adoption of ZenIP 42207 through Community Vote. The proposal, which garnered widespread support, paved the way for the complete removal of the sandbox from the Horizen mainchain.
The removal of the Sandbox represents a proactive response by the Horizen ecosystem to adapt to the evolving regulatory environment surrounding privacy tokens.
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By moving away from privacy features, ZEN aims to align itself with regulatory expectations and increase its accessibility and usability within the broader cryptocurrency ecosystem.
Earlier this year, ZEN faced challenges in the form of being delisted from OKX and the implementation of a tracking label by Binance, reflecting the increased scrutiny facing privacy-focused assets in regulatory environments around the world.
The Horizen community has been highly supportive of this strategic shift away from privacy features, underscoring the ecosystem’s commitment to adaptability and innovation.
Today’s successful Hard Fork marks a significant milestone in this journey, solidifying ZEN’s position as a transparent and compliant digital asset.
*This is not investment advice.
Source: Bitcoinsistemi.com