The latest enhancement is a reaction to the legislative demand on privacy-centric assets that is only going to get stronger. It builds upon the shielded pool access constraint that ZenIP-42204 established previously. Horizen restates its dedication to creating an environment that is safe and compliant for consumers throughout the globe.
Horizen disables shielded transactions amid regulatory hostility
The ZenIP 42207 voting session concluded on January 11, 2024, at 5:00 p.m. UTC, and 99.97% of votes were cast “for,” with.03% voting “against,” according to Horizen’s official announcement. This indicates that the option to transmit money through shielded transactions in a private mannet has been completely disabled, as authorised by the community.
No transaction to a shielded pool will ever be permitted; all blockchain features related to the shielded transactions (z-addresses) will be fully deleted.
https://x.com/horizenglobal/status/1745516663577907294?s=20
Horizen’s tools will no longer include remote procedure calls (RPCs) that are expressly associated with shielded transactions, including z_sendmany and z_mergetoaddress.
As a result, the community and owners of ZEN should be ready for the impending blockchain hard fork. Users will have access to a migration path that includes the tools and instructions needed to remove their assets from the shielded pool prior to the hard fork.
According to the announcement, the precise number of blocks for the hard fork has not yet been revealed.
The primary news from Horizen for 2023 was the loss of privacy coin capabilities, as previously reported by U.Today.
ZEN 5.0.0 to go live in mainnet in February, 2024: What to expect?
The Horizen community will release an improved sotware client in order to properly incorporate new functionalities. ZEN 5.0.0 is anticipated to launch in January 2024 and launch on the Mainnet in February of the same year.
Sending any shielded transactions—including those that de-shield money from shielded to transparent addresses—after they become operational will be impossible.
Beyond the hard fork that was first revealed with ZEN 4.2.0-rc1, ZenIP 42207 removes the shielded pool entirely in ZEN 5.0.0.
The price of ZEN has increased by about 15% in the previous day and is currently trading close to the $9.8 mark, indicating that the Horizon community is excited about the impending events.
