Zcash is about to freeze $16 million in its oldest privacy pool
Source: CoinDesk ·
From the source
About 12,200 ZEC remains in Sprout, the privacy pool Zcash launched in 2016. Roughly 10,000 coins have left over the past week, but only about 40 moved out Wednesday. Zcash holders have less than a day to move about $16 million out of the network’s oldest privacy pool before an upgrade makes the remaining coins unspendable, even for owners who still have their private keys. About 12,226 ZEC remained in the network’s Sprout pool on Thursday morning, down from roughly 22,263 a week earlier, according to ZecStats’ historical records . Most of that reduction came Sunday, when about 9,094 ZEC left. Just 40 ZEC followed Wednesday. The Zcash network lets users hide who paid whom and how much. Its private balances sit in shielded pools, which can be thought of as a separate compartment of the blockchain that uses a different software generation of privacy technology. Sprout launched with the network in October 2016 and has since been superseded by newer pools. The deadline arrives with NU7,…
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