Binance declares in two phases its support for the Horizen (ZEN) network upgrade and hard fork. Withdrawals and deposits will be temporarily halted.
Binance has officially announced its endorsement of the forthcoming network upgrade and hard fork for Horizen (ZEN), which will unfold in two sequential phases.
The initial phase will commence at block height 1,422,426, scheduled for approximately 19:00 UTC on September 19, 2023.
During this phase, token deposits and withdrawals will undergo a temporary suspension, which is anticipated to take effect at around 18:00 UTC on September 19, 2023.
Subsequently, the second phase is slated to unfold at block height 1,426,200 on Tuesday, September 26, at 10:00 (UTC).
The suspension of token deposits and withdrawals will be initiated at approximately 09:00 (UTC) on the same day.
Horizen, formerly recognized as Zencash, was launched on May 30, 2017, and represents a derivative of Z Classic.
It is noteworthy that Z Classic, in turn, originates from Zcash, which itself is a Bitcoin fork.
Horizen’s sidechain platform is specifically designed to prioritize data privacy and scalability, allowing businesses and developers to construct their own public or private blockchains through blockchain technology.
Notably, Zendoo is a pivotal component of this endeavor.
With the current market valuation of $7.31 USD and a 24-hour trading volume amounting to $7,072,448 USD, ZEN, the indigenous cryptocurrency of Horizen, is poised to exhibit substantial potential within the cryptocurrency domain.
Furthermore, 14,137,706 ZEN are presently in circulation out of a total supply of 21,000,000 ZEN.
