Grayscale-backed Horizen to change blockchain to drop 'privacy coin' label

The adjustment is intended to alter the privacy-centric status of its native asset, Zen.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Horizen, a blockchain backed by Digital Currency Group subsidiary Grayscale Investments, said it would remove support for shielded transactions on its mainnet in an effort to alter the status of its native cryptocurrency, Zen , from a privacy coin to a more general digital asset.

This change is slated to take effect with the mandatory software upgrade, Zen 4.1, scheduled for release on the mainnet in September 2023.. This proposal targets the elimination of support for shielding — a process involving transactions from transparent addresses to shielded addresses — at the consensus level, which includes the mempool and blocks.The Horizen team emphasized that this change signifies its intention to alter the status of Horizen’s native asset.

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