Horizen (Zen) should no longer be a data protection coin
Horizen (Zen) should no longer be a data protection coin
- Horizen removes the privacy from shielded Mainchain pools
- zen will no longer be a data protection coin if the devaluation is activated.
- The upcoming abolition of the Horizen Mainchain Shielded Pools takes place after the introduction of ZenIP 42204
Horizen continues to plan to delete support for protected transactions on the Mainchain, a step that will lead to the native zen token no longer regarded as a privacy coin.
The devaluation of $ Zen will no longer be a data protection coin. Find out more about this upcoming change: https://t.co/hsno4rjaqo pic.twitter.com/gbmmrx9t48
- Horizen (@horzenglobal) 27. June 2023
" After the abolition of the Mainchain-protected pools, all data protection functions are removed from the Horizen-main blockchain at the consensus level. This also means that after this change there will be no privacy coin", it said in the announcement.
According to the Layer-0 blockchain platform supported by Grayscale, the abolition is evaluated as a step to promote sustainability and the growth of the ecosystem while mitigating regulatory threats. The goal is to ensure that data protection technology is properly handled, since the topic is up to date and continues to affect the leading data protection -oriented coins Monero (XMR), ZCash (ZEC) and Dash (Dash). Horizen also points out that his protected transactions are based on Sprout, a "outdated" data protection technology from ZCash. Since the original ZCASH version for seedling and flower is out of date, the platform suggests that its step enables improvements and innovations. The deadlines for the removal of the Mainchain-Shield pools are set for the test network to August 2023 and for the main network to September 2023. Horizen explains the devaluation
Source: Coinlist.me
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