CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Zcash’s planned Sprout freeze would leave private keys unable to move funds

CryptoSlate logo

Published on

Add as a preferred source on Google
Zcash’s planned Sprout freeze would leave private keys unable to move funds

NU7 would leave legacy funds issued but unspendable, even with intact keys, while the mainnet activation decision remains pending.

Zcash's proposed NU7 upgrade would close the spending route out of its oldest privacy pool, Sprout, which still held about 22,309 ZEC on Oct. 17. Holders could keep their private keys and still lose the ability to move those funds on the upgraded network.

Mainnet activation remains undecided. The NU7 deployment specification leaves the activation height unassigned, with a final decision planned for Oct. 20 after testnet experience. Nov. 5 remains the target, conditional on that decision.

The zkp.baby dashboard recorded 22,309.44195128 ZEC in Sprout at block 3,521,260, updated at 19:10:09 UTC on Oct. 17.

The change is set out in ZIP 2003, a Zcash improvement proposal whose listed owner is Daira-Emma Hopwood. It proposes rejecting version 4 transactions from NU7 onward. Sprout transfers require that format; neither version 5 nor version 6 supports them.

A private key authorizes a spend, but the network must also accept the transaction carrying it. Under the proposed rules, Sprout holders would have no supported format in which to exercise that authority.

The restriction reaches every version 4 transaction, including transparent-only and Sapling transactions. The consequences differ by pool. Users can recreate non-Sprout transactions in a supported format where possible. Sprout has no equivalent replacement. Merely re-signing a version 4 transaction cannot fix its invalid format, and even newer formats need signatures appropriate to the consensus branch.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.