Zcash changes its rules and permanently blocks access to 12,224 ZEC

The NU7 update marks a major milestone for the Zcash network. Activated on Friday, it changes several technical rules and makes funds held in the old Sprout protected pool inaccessible. About 12,224 ZEC remain affected, amounting to nearly 15 million dollars according to the data provided. This evolution results from a change in the transaction format accepted by the protocol. It also adjusts the targeted block timing and provides a new mechanism related to today’s network fees. Zcash activated NU7 at block 3,543,405, Friday at 02:34 UTC. About 12,224 ZEC are shown in the blockchain tracker ZecStats in the Sprout balance. These funds represent nearly 15 million dollars. The new rules now prevent their transfer on the network chain.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cointribune.