The Horizen team announced via X on Monday that on February 7th, 2024, the Shielded Pool will be permanently disabled on the Horizen Mainchain via a hard fork. Following this hard fork it will no longer be possible to perform any transactions involving shielded addresses.
As such, the team has advised users to move funds out of the shielded pool before then. Failure to remove shielded ZEN from shielded addresses prior to the hard fork will result in the loss of shielded ZEN tokens, the team added.
Horizen aims to build a Proof-of-Work (PoW) cryptocurrency, with a Proof-of-Stake (PoS) sidechain platform enabling fully customizable decentralized applications. ZEN, the native token of the Horizen ecosystem, is up by more than 2% in the last 24 hours and is trading at $7.85.