🧊 Zcash “freezes” its old privacy pool: ~22,000 ZEC could be stuck forever
Imagine an old suitcase tucked away in the attic. You have the key, but the door to the storage room has been bricked up. That’s roughly the fate of the coins in Sprout, Zcash’s very first privacy pool (it’s been running since 2016).
What’s happening?
Today, November 5, the Zcash network is set to receive the NU7 upgrade. It disables the old transaction format, and Sprout only supports that format. Anything left inside it will be unspendable, even if you have all the keys. The coins won’t be burned; they’ll simply sit there untouched. According to the latest data found (mid-October), there were about 22,300 ZEC there, worth $26–30 million. Most likely, these are forgotten wallets from the past.
If you haven’t opened an old wallet in a long time, check whether it contains any ZEC in Sprout, and move them to a modern pool before the upgrade takes effect. Regular ZEC on exchanges, in transparent addresses, in Sapling, and in Orchard are not affected at all.
What’s good about NU7?
⚡ Blocks are three times faster. A new block will appear every 25 seconds instead of every 75, so payments and deposits will be confirmed noticeably faster. The total issuance won’t change: the block reward will be recalculated, while the 21 million coin limit and halving schedule will remain the same.
♻️ Fees with a “savings pot.” Miners receive 40% of the fees, while 60% are temporarily removed from circulation and accumulate in a reserve for future miner payouts.
In short: nothing changes for most ZEC holders, but owners of ancient wallets should hurry. ⏰
