31 May, AtoZ Markets – The team that is working on the development of the zcash cryptocurrency has released the new software that includes support elements of the network’s planned Sapling upgrade. It is set to take place later in the year.
In fact, Sapling is not the first hard fork that is planned for zcash. The closest one, Overwinter, is set to be effective in the end of June. The update 1.1.1 sets the initial consensus rules as it prepares a Sapling-based testnet.
Earlier in February 2017, Zcash team has firstly revealed the details about Sapling. According to them, Sapling is aimed at speeding up transactions on the network. However, the activation of “block height” has been missing. As per developers, this detail will be included in the upcoming update.
The team has written in a blog post:
“As a reminder, because the Sapling activation height is not yet specified for mainnet, version 1.1.1 will behave similarly as other pre-Sapling releases even after a future activation of Sapling on the network. Upgrading from 1.1.1 will be required in order to follow the Sapling network upgrade on mainnet.”
June Zcash Update Will Act as Foundation for Sapling Update
June’s Overwinter upgrade is aiming to set a basis for future hard forks. This process has solidified controversy for other Blockchain protocols to take place on zcash. The co-founder and CEO of Zerocoin Electric Coin Company, Zooko Wilcox, has stated:
“The purpose of this is to get practice doing network upgrades.”
Zerocoin Electric Coin Company is working on the development of the network.
Zcash is a privacy driven cryptocurrency launched on October 28, 2016. It uses Equihash algorithm, which is a lopsided memory hard POW (Proof of work) based cryptocurrency. Zcash payments are published on a public Blockchain, but the sender, recipient, and amount of transaction remain private.
Also, Zcash was the first open, permissionless cryptocurrency that can fully protect the privacy of operations done by the users using zero-knowledge cryptography. It relies on high RAM requirements to hinder the generation of proofs and making ASIC development highly impossible. Like Bitcoin, Zcash has a total fixed supply of 21 million units.
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