Tokocrypto to Suspend ZEN Transactions Due to Contract Update
Date: 2025-07-08 Author: Henry Casey Categories: BUSINESS
The Tokocrypto crypto exchange announced support for the Horizen (ZEN) smart contract update. In this regard, from July 21 at 3:00 UTC, users will not be able to deposit or withdraw old-style ZEN tokens. These measures are necessary for a successful transition to the updated version of the contract and further stable operation of the network.
Horizen, formerly known as ZenCash, is an open ecosystem of privacy-protected blockchains. The architecture is based on a developed node infrastructure and the use of zero-knowledge technology. Interoperability between different chains is achieved through the Zendoo protocol, which uses SNARK checks to flexibly configure sidechains. This gives developers the freedom to choose consensus parameters, the degree of privacy, and the speed of their blockchains.
One of the main advantages of Horizen is the ability to scale to an industrial level. Today, the network supports up to 10 thousand independent sidechains with a maximum throughput of up to 10 million transactions per second. This figure is achieved thanks to cryptographic algorithms and multi-level verification.
The Zendoo protocol essentially turns Horizen into an infinitely expandable blockchain network. Special SDK sets are available for developers. The first of them, including Blaze and Latus, allows you to build blockchains based on the Ouroboros PoS protocol from IOHK. Blaze emphasizes speed - the network with this SDK can process about a thousand transactions per second and has its own certifying nodes. Latus, in turn, uses recursive SNARK compositions, which makes it possible to achieve complete decentralization.
The second SDK package includes solutions for integration with the EVM. This allows developers to create projects compatible with Ethereum smart contracts, which significantly expands the capabilities of the Horizen ecosystem.
The main cryptocurrency within the network is the ZEN token. It is used for various operations and participation in blockchain support. After the contract update, all token functions will be preserved, but users should take into account the suspension of operations and plan their transactions in advance.
Thus, the contract update and temporary suspension of inputs and outputs is an important step for the further development and increase of flexibility of the Horizen network.
