The cryptocurrency market continues to be pretty quiet. The total market cap remains under 0 billion and Bitcoin is still under ,500. Now let’s take a look at privacy focused ZCash. On October 28th, ZCash celebrated its second anniversary and it also executed the Sapling Activation on its network at block height 419200.
According to the post, Sapling introduces new shielded addresses with significantly improved performance: a time reduction of 90% for constructing transactions, and a memory reduction of over 97%.
The ecosystem will need time to integrate the new addresses as demand permits. Currently, funds cannot be transferred from legacy shielded addresses to the new Sapling shielded addresses without revealing amounts.
This allows ZCash to audit the monetary base of ZEC held in shielded addresses. Zcash is developing a tool to automate the migration of funds in a way that allows users to minimize the impact on their privacy. ZCash recommends that users wait for the release of this tool, if feasible.
Well what do you think of ZCash and what other privacy focused cryptocurrencies do you like? Share with us your thoughts and predictions in the comments below and don’t forget to subscribe. You can also follow us on social media. Bye for now.
Please remember this is news, not investment advice.
ZCash Completes Sapling Network Upgrade At Block Height 419200 – October 29th Cryptocurrency News