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“The current regulatory environment creates problems with the availability and implementation of sensitive cryptocurrencies,” the company explained.
The privacy of the blockchain itself was ensured by the shielded pools of Horizen’s core network. They were based on the outdated ZCash Sprout technology. The platform developers are now preparing a ZEN 4.1 software update that will discontinue support for shielded transactions at the consensus level.
The software itself will be updated on the test network in August. And the main network will implement the changes as early as September of this year. The company says that supporting privacy features at the core network level is not the only way to ensure privacy for the Horizen ecosystem. The purpose of abandoning screened pools is to reduce the risks associated with Horizen’s vision, the company says.
Cryptocurrencies that allow for anonymity typically use protocol-level mixers, ring signatures, or zero-disclosure proofs to mask participants. More advanced protocols have an automatic breakdown of the transaction amount into smaller pieces to confuse the person trying to trace the movement of funds;
Recall that ZEN was among the coins that were on the list of cryptocurrency exchange Binance for delisting. However, the exchange recently announced that it has decided to cancel its plan to delist a number of digital coins in the EU. The company explained that in this way they follow the EU laws.
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