ICHI

Horizen

Sphere

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 <p class="is-style-lead">The Horizen community has voted overwhelmingly to endorse ZenIP 42207 that proposes the removal of the <a rel="noopener noreferrer nofollow" title="shielded" href="https://thebittimes.com/tag/shielded.html">shielded</a> pool.</p>
 <p>The vote, which was open from Jan. 8 to 11, saw 99.97% of participants vote in favor of the proposal.</p>
 <p>The <a rel="noopener noreferrer nofollow" title="shielded" href="https://thebittimes.com/tag/shielded.html">shielded</a> pool, introduced in 2018, allowed users to send and receive transactions privately. However, the Horizen team has <a rel="noopener noreferrer nofollow" title="remove" href="https://thebittimes.com/tag/remove.html">remove</a>d the <a rel="noopener noreferrer nofollow" title="shielded" href="https://thebittimes.com/tag/shielded.html">shielded</a> pool due to concerns about the evolving regulatory environment around privacy tokens.</p>
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 <p>The team also believes Horizen should focus on its core strengths, such as scalability and interoperability. Users with <a rel="noopener noreferrer nofollow" title="shielded" href="https://thebittimes.com/tag/shielded.html">shielded</a> addresses must “unshield” their funds before February 2024. This can be done using Sphere by Horizen or zen-cli.</p>
 <p>Even so, unshielding funds directly to exchange deposit addresses is discouraged. Failure to remove ZEN from shielded pools before the hard fork will result in the loss of your ZEN.</p>
 <p>Detailed instructions on how to unshield funds will be released in the next few weeks.</p>
 <p>Horizen is a blockchain emphasizing security and scalability, focusing on privacy for individuals and businesses. The platform is built on the MimbleWimble protocol, which is well-regarded for its privacy and scalability benefits.</p>
 <p>Removing the <a rel="noopener noreferrer nofollow" title="shielded" href="https://thebittimes.com/tag/shielded.html">shielded</a> pool is a significant step for Horizen as it reaffirms the project’s commitment to compliance and regulatory clarity. The team believes this decision will make Horizen a more attractive platform for businesses and institutions.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Horizen Labs and Stably join hands to launch the first stablecoin, ZUSD, on EON
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/horizen-votes-to-remove-shielded-pool-tbt76580.html">https://thebittimes.com/horizen-votes-to-remove-shielded-pool-tbt76580.html</a></p>

Horizen votes to remove shielded pool

TheBitTimes

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