Horizen Protocol: ZEN No Longer a Privacy Coin!

By Lola Coin Jun 28, 202376Views

Privacy-focused network, Horizen, has announced that it will remove all privacy features from its platform as a result of regulatory threats and technical debts. The network’s mainchain shielded pools will be deprecated, meaning shielded transactions with transparent inputs will be removed from the mainchain. This decision comes after the approval of ZenIP 42204 by the community. The deprecation will be implemented through a mandatory software upgrade, with the testnet release scheduled for August 2023 and the mainnet release for September 2023. Horizen aims to ensure the right and sustainable implementation of privacy technology in order to drive ecosystem growth and reduce risks. This move follows a trend of regulatory crackdowns on privacy coins, with jurisdictions such as Dubai and crypto exchange Binance taking steps to restrict their use.

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