- The Horizen developer will remove blockchain privacy settings
- They’re doing so because of regulatory pressure
The Horizen blockchain team, previously focused on privacy, has announced important changes. They will make adjustments to the network and remove the anonymity settings. The ZEN token will no longer be a privacy coin.
Previously, blockchain anonymity was guaranteed by the shielded pools of Horizen’s main chain. Developers are preparing a ZEN 4.1 software update. It will end support for screened transactions (from T-addresses to Z-addresses) at the consensus level.
The software will be updated on the test network in August 2023. The core network will implement the changes in September 2023.
Horizen is forced to take this step because of pressure from U.S. authorities, which prohibit the use of anonymous coins. So far, the Pentagon has imposed sanctions on Tornado Cash and issued warnings to other similar projects.
The Horizen press release stresses that they remain a secure and decentralized blockchain that is building the future of finance. Horizen ecosystem introduces new solutions for scaling blockchain infrastructure. By combining the Horizen Proof of Work (PoW) core chain with the optional Zendoo Proof of Bet (PoS) solution, this network offers innovative opportunities for developers. The native ZEN token is used in the Horizen cryptoecosystem in various forms.