About $16 Million in ZEC in Sprout Pool Will Be Permanently Unspendable Due to NU7 Upgrade

Odaily reports: According to monitoring, the Zcash NU7 network upgrade is expected to take effect around 9:30 PM Eastern Time on November 5. At that time, approximately 12,226 ZEC in the 2016 Sprout privacy pool will become permanently unspendable, worth about $16 million at $1,300 per coin. Holders have only a few hours left to complete migration. Last week, about 10,000 ZEC were urgently moved out of the Sprout pool, and by Wednesday the migration volume had dropped to about 40 ZEC. This upgrade will phase out obsolete transaction formats to reduce complexity and security risks, and will shorten block time from 75 seconds to a target of 25 seconds. The remaining locked ZEC is still counted in the total supply, but whether access can be restored remains uncertain.