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Zcash anonymity at a new level

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A hardfork Sapling in the Zcash blockchain will allow transactions to be performed much faster, and the security of user data will remain at the same level. The project developers are confident that they have given it a new impetus for development.

What happened to Zcash

October 29 there was a planned hardfork Zcash. Its goal was to reduce the amount of space in the block for a single transaction, which should have resulted in a reduction in the time of the operation. After updating the client zcashd, users will receive new addresses.

As practice has shown, as a result of hardfork, a single operation will take 10 times less time. At the same time, the size of the space in the block will decrease by as much as 97%. However, activating the Sapling update did not allow cryptocurrency to become more expensive. During the day, its price decreased by almost 2% to $ 118.6.

According to the market capitalization, the coin managed to keep 19th place in the cryptocurrency rating, the total value of Zcash is 607 million dollars.

Absolute secret cryptocurrency

Initially, the Zcash project was conceived as a network with an absolute system of anonymity. The sender of payment keeps confidential, not only his name, but even the amount. Such an algorithm for processing information ensures the preservation of complete confidentiality under any conditions.

However, when updating Sapling, this rule will have to be broken. In order to secure the system when transferring funds to new wallets, the owner will have to disclose information about the funds available there. Perhaps the buyers did not like this particular item.

Already there is announced the next hardfork network. Most likely it will happen next fall. It is planned that it will be aimed at optimizing the mining procedure and will help solve the problem of “attack 51”. It is not yet known what exactly the next update will contain; this will be announced later. However, developers are confident in their project and assure that they can achieve complete anonymity and security.

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