Topic to discuss the Zen-IP 44207 Title : “Removal of Shielded Pool from the Horizen Mainchain”
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Agreed to remove, currently leading exchanges are taking down private coins, and even Zen has been involved in it, with a severe situation
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According to the Okx announcement, zen will be delisted today, and Binance has just added zen to the risk list. I don’t want zen to be delisted because horizen eon is just starting.
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Fully on board with this, although it is unfortunate there is conflict between user privacy and regulatory KYC and AML requirements.
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This is just personal opinion :
Personally, I hope consider this method during the 2.0.
- With a hard fork, the mainchain is left as Horizen Classic (pow) and the new chain is updated to Horizen (pos).
- 1:1 airdrop to t address only
- The maximum supply amount remains the same.
First, by airdropping only to all transparent addresses after the fork, it is possible to prove that all assets on the chain are clean.
Second, the existing anonymous transaction history is created in the classic chain, so it is not a problem in the new Horizen’s chain. The existing anonymous transaction might be matter of DAXA guidelines.
Third, since the assets of the private pool are not directly destroyed, it is expected that there will be no legal risk.
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@Jonghun .That’s a really good proposal. I will cast my full vote if this proposal passes. Thank you
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I agree, horizen removed anonymity to gain regulatory and exchange listing advantages.
Despite this past behavior, it is very disappointing to see the OKX delisting with a binance monitoring ticker.
Therefore, we believe that we should actively show the outside world that we are no longer an anonymous coin by removing the anonymity of the main chain as soon as possible.
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It seems like a very good proposal, if you keep the same quantity of new and old chains and airdrop them 1:1, it will be beneficial to the original holders, and the new chain has no anonymity transaction history, so I think it has its own advantages.
Hello Jonghun.
Waiting for H20 will be too long imo. That’s a guge work wi4h a lot of testings, and we need to adress the regulation issue now.
As shielded pools will be totally removed, there is absolutely no reason to be considered as a privacy coin after the ZenIP 42207.
We can hope to be relisted on OKX and on Korean exchanges before H20.
If the fork happens, we wont have 2 chains, as the consensus answers anyway to the Nakamoto longest chain rule. There is no need to airdrop tokens ln the new chain or anything, as I understood. But this question will be adressed on the H20 proposal that is differemt from this one.
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No one can prove for any chain existing that the coins are clean as coin mixers are available for every chain.
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Starting from the initial block of the chain, the case where there is a shielded transaction history in an existing transaction is also one of the aspects that we must consider. If we look at our blocks now, we see that the block start at 110001. This is because we forked Zclassic.
The exchange skips zclassic’s block to review us and looks at our Genesis block first.
I’m not a lawyer, so this may not be the right opinion , and I’m just giving my personal opinion based entirely on my experience.
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The Chinese community is preparing for the next voting, but Something went wrong with linking the mainchain address to EON, please see the picture!
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Maybe a stupid question but, did they refresh and try a second time?
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I shared that with the team. But note that it’s night time rn, we should have an answer in few hours
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Haha, this is just an opinion and no answer is required.
I posted this because I wanted the team and everyone to consider this part of our journey at least once.
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yes. we tried and refreshed for several times, and still the same result!
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Please re-try in few hours.
I share that with the team
Make sure there’s at least some $ZEN in the EON wallet address to which you’re trying to link a mainchain address.
Hi Jonghun, it’s a good question and there are two points to add for context:
- Unless we start a new blockchain with an entirely new coin/token, there’s always going to be some historical interaction with the shielded pool for a variety of reasons, including that coinbase transactions were initially routed into the shielded pool prior to the implementation of ZenIP 42204.
- However, the great news is that Chainalysis maintains active analytics on Horizen and, to my knowledge, we have zero flagged addresses as suspicious. This means that we have a clean record to the best ability of the best analytics service in the industry, and with ZenIP 42207, we won’t have any further interactions whatsoever with privacy technology.
In summary, unless we want to entirely scrap the Horizen project and its record of ownership–because even an airdrop to t-addresses would ultimately have the same argument that at some point in some way those addresses would have interacted with a private address in the past (especially because all coinbase txs previously were routed through the shielded pool–and I don’t think anyone here wants to do that.
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@finpunk hi Rob, thanks for reply and explanation.
What I say is because of this. But as you said “we have a clean record to the best ability of the best analytics service in the industry” and if we can use that record for proof, I don’t think there’s any need to look for the ideas I mentioned or other methods.
Btw I am full support on this ZenIP.
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