Upcoming ZCash Upgrade Promises Lighter Processing RequirementsOct 26, 2018 at 21:04
Amid criticisms of requiring heavy computing needs for its processes, ZCash Company said an improvement to fix it will be introduced in the cryptocurrency’s next hard fork update dubbed as Sapling.
“The Sapling protocol will allow shielded transfers to be completed with about 100 times less memory and probably six or more times faster,” the company’s chief technology officer, Nathan Wilcox, expressed.
The company claimed that the upgrade scheduled to be released in the next few days will allow exchanges and wallets to be more capable of accepting ZCash’s shielded transactions that is intended for the privacy of its users.
Is your product #Sapling-ready? Or would you like to learn more about supporting the #Zcash Sapling upgrade? Reach out and let's connect! Contact our team at [email protected] Complete list of Sapling-ready services coming soon. pic.twitter.com/sxBDI1bwLi
— Zcash Company (@zcashco) October 25, 2018
At present, the coin’s shielded transactions feature is only possible for users running a full node.
“We hope to see a migration toward shielded Sapling adoption and as that migration continues we hope to transition to privacy-by-default when the time is right… All (Sapling) is doing improving the performance and the security. Who wouldn’t want that?” Wilcox further stated.
He added that they are also currently developing a proof-of-concept Sapling wallet that can prove that a code can be trustless aside from allowing diversified addresses to allow exchanges to issue multiple addresses for the same wallet.
The update was also said to feature a viewing key to selectively reveal transactions for optional transparency.
Last February, Grayscale Investments financial analyst Matthew Beck claimed that the value of ZCash could reach over $62,000 by year 2025, assuming that the coin will represent 10 percent of all offshore wealth by that point. https://disruptblock.com/cryptocurrency/zcash-value-expected-reach-62000-2025/
As of this writing, ZCash is valued at $124.3761 a piece with a $633 thousand market cap.
Our review of the coin can be read here https://disruptblock.com/cryptocurrency/what-is-zcash-zec/