Horizen’s Unprecedented Decision: Overwhelming Support to Eliminate Shielded Pool

Horizen’s Unprecedented Decision: Overwhelming Support to Eliminate Shielded Pool

In a groundbreaking move, the Horizen community has unequivocally endorsed ZenIP 42207, signaling a resounding decision to eliminate the shielded pool.

The Mandate of the Community

The voting window, spanning from January 8 to 11, witnessed an astounding 99.97% approval rate for the proposal. This decisive mandate reflects the collective stance of the Horizen community, showcasing a clear inclination toward the removal of the shielded pool.

The Origins of the Shielded Pool

Introduced in 2018, the shielded pool initially allowed users to conduct transactions with enhanced privacy. Despite its initial success, concerns surrounding the evolving regulatory landscape for privacy tokens have prompted the Horizen team to make this strategic move.

Horizen’s Pragmatic Approach

The decision to remove the shielded pool is not arbitrary; rather, it aligns with Horizen’s commitment to adapt to the changing regulatory dynamics. The team advocates focusing on core strengths, particularly scalability and interoperability, to bolster the platform’s overall efficacy.

User Implications and the Unshielding Process

Users with shielded addresses are urged to “unshield” their funds before February 2024. This process can be seamlessly executed using Sphere by Horizen or zen-cli. However, it’s important to note that direct fund unshielding to exchange deposit addresses is discouraged. Failing to unshield ZEN from the pools before the impending hard fork carries the risk of losing your ZEN.

Countdown to Change

To facilitate this transition, detailed instructions on the unshielding process will be disseminated in the upcoming weeks. This ensures users are well-prepared for the impending alterations to the Horizen ecosystem.

Horizen’s Core Tenets

Horizen, a blockchain powerhouse prioritizing security and scalability, centers its ethos on providing privacy solutions for both individuals and businesses. Anchored on the MimbleWimble protocol, renowned for its privacy and scalability advantages, Horizen stands as a beacon in the blockchain space.

Strategic Shift for Regulatory Clarity

The removal of the shielded pool marks a pivotal moment for Horizen. It underlines the project’s unwavering commitment to regulatory compliance and clarity. By taking this bold step, the team anticipates making Horizen an even more appealing platform for businesses and institutions.

In conclusion, Horizen’s resolute decision to eliminate the shielded pool not only underscores its adaptability to regulatory shifts but also positions it as a robust, compliant, and attractive blockchain platform for the future.

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