Zcash's NU7 network upgrade activated on Friday and made about $15 million in ZEC in the legacy Sprout shielded pool unspendable. The coins are not burned, and a future upgrade could restore access.
Zcash's NU7 upgrade made about $15 million in ZEC unspendable after it activated on Friday. The funds sit in the network's legacy Sprout shielded pool.
The upgrade took effect at block 3,543,405 at 02:34 UTC, according to blockchain tracker ZecStats. ZecStats lists the Sprout pool balance at about 12,224 ZEC.
Under Zcash Improvement Proposal (ZIP) 2003, NU7 rejects version 4 transactions, the only format that supports spending Sprout funds. As a result, the remaining coins cannot be transferred under the new rules, but they have not been burned.
However, the specification leaves open the possibility that a future network upgrade could restore access, either by re-enabling version 4 transactions or by introducing another mechanism. It also warns that "the ability to spend Sprout funds may never be re-enabled."
NU7 also cuts the target time between blocks from 75 seconds to 25, although actual block intervals will adjust toward the new target as mining difficulty changes. In addition, a Network Sustainability Mechanism removes 60% of transaction fees from circulation for eventual reissuance through future mining rewards, starting around February 2031.
The upgrade preserves Zcash's 21 million ZEC supply cap and its halving schedule, while introducing limits on shielded activity designed to reduce wallet synchronization demands.
Source: Cointelegraph
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