Zcash Permanently Blocks 12,224 ZEC with NU7 Update

The NU7 update of Zcash was activated at block 3,543,405 on Friday at 02:34 UTC, rendering approximately 12,224 ZEC, or nearly $15 million, inaccessible. The new rules, stemming from proposal ZIP 2003, reject version 4 transactions, thus preventing the transfer of funds held in the old Sprout pool. Although these units are not destroyed, holders no longer have a recognized method to move them. A future update could potentially restore access, but this remains uncertain. Additionally, NU7 reduces the target time between blocks from 75 to 25 seconds and introduces a fee management mechanism that will remove 60% of transaction fees from circulation starting in February 2031. Zcash also maintains a cap of 21 million ZEC and a halving schedule.

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