Back to news
Technology
Planned Zcash Upgrade Risks Permanently Locking $16 Million in Shielded Funds
(2 hours ago) · 1 source · Summarized by CryptoBipto
A proposed Zcash network upgrade could permanently make approximately $16 million worth of cryptocurrency inaccessible. The upgrade involves changes to the shielded transaction system that would render certain older funds unspendable if their holders do not migrate them before the transition takes effect.
WHY IT MATTERS
Think of this like a bank switching to a completely new account system and telling customers they need to transfer their money before a deadline — except in this case, there is no customer service department to help recover forgotten funds.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- decrypt.co
RELATED
ZECZcashNetwork UpgradesPrivacy CoinsBlockchain Migration