Horizen’s ZenIP 42207: Transitioning Away from Shielded Pool

FinanceFeeds Editorial Team

Horizen recently announced ZenIP 42207, a proposal to phase out its shielded pool by January 2024. This decision, which has received an overwhelming 99.97% support from the community, represents a significant policy change in response to evolving regulatory standards.

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On January 4th, 2024, Horizen introduced ZenIP 42207, proposing the complete removal of the shielded pool from its blockchain. This decision, backed by nearly unanimous community support, follows a previous update (ZenIP-42204) and is in line with changing regulatory views on privacy tokens. It marks a shift in Horizen’s focus away from privacy-centric features.

Key Features of ZenIP 42207:

  1. Discontinuation of Shielded Transactions: The proposal will lead to the deactivation of all features related to shielded transactions, including z-addresses.
  2. Elimination of Certain RPC Calls: Specific RPC calls such as z_sendmany and z_mergetoaddress will be removed.
  3. Guidance for User Migration: Horizen plans to offer tools and guidelines to help users transfer their assets from the shielded pool before the implementation of these changes. Community support and detailed documentation will be provided.
  4. Network Upgrade Process: The deactivation of these features will be implemented through a network upgrade at a predetermined block height, following thorough testing and community preparation.
  5. Continuous Communication: Horizen will keep its community informed about the timeline, necessary actions for users, and available support resources.

The upcoming release of ZEN 5.0.0 in January will be a crucial step in this process, leading to the termination of all shielded transactions on the Mainnet by February 2024.

Further Actions and Voting Details:

The scope of ZenIP 42207 is broader than the previously announced ZEN 4.2.0-rc1 hard fork. Users with assets in private addresses should transfer them to transparent addresses using tools like Sphere by Horizen or zen-cli by February 2024. After this deadline, it will no longer be possible to move funds from the shielded pool. Horizen is actively engaging with its community on platforms such as Discord, Discourse, and Twitter, and the full details of ZenIP 42207 can be found on GitHub. The voting for this proposal took place from January 8th to January 11th, 2024, using Horizen’s EON system, with Snapshot and Discourse facilitating the governance process.

The adoption of ZenIP 42207 is a pivotal moment in Horizen’s development, highlighting the community’s endorsement of the project’s new strategic direction. Users should ensure they transfer their ZEN from shielded pools before the network upgrade to secure their assets.

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