Followers | 395 |
Posts | 19687 |
Boards Moderated | 4 |
Alias Born | 05/05/2011 |

Wednesday, June 16, 2021 12:11:50 PM
The Electric Coin Company (ECC) will soon activate the testnet of its Network Upgrade 5 (NU5) for its privacy coin zcash (ZEC). This upgrade features multiple Zcash Improvement Proposals (ZIPs), which could eventually launch to the mainnet.
Founded in 2016, Zcash grew out of an academic approach to creating a coin that focuses on privacy. Unlike cryptocurrencies like bitcoin (BTC) and ethereum (ETH), the zcash blockchain transactions can have their metadata hidden.
As such, the updates to the coin are heavily based on increasing its utility as well as the continued effective privacy of its users.
The activation of the NU5 testnet is a key step in moving the system from its original shielding system, zk-SNARKs, to the Halo proving system.
This change aims to address two aspects of the privacy coin. They are moving Zcash from a trusted setup and upgrading the protocol’s underlying cryptography.
In addition, the upgrade brings with it unified addresses. This will give users a single Zcash address that is compatible across all Zcash value pools. Currently, users have to have multiple address types, which isn’t efficient.
“Unified addresses increase interoperability between wallets and exchanges, improving the overall user experience of Zcash,” explains Josh Swihart, VP of Growth at ECC.
The Zcash NU5 testnet will officially activate on July 1. This will be followed by a mainnet launch in October, coinciding with the planned Halo Arc release.
“For end-users, NU5 means Zcash will no longer rely on a trusted setup, and shielding funds will be easier than ever. NU5 is supported by the Halo Arc product suite, which includes mobile wallet SDKs to help developers integrate Zcash’s latest features in their applications,” says Swihart.
Overall, the Halo Arc product suite includes ZcashD, ECC reference wallet, and NU5-compatible wallet disks, which feature auto-shielding, auto-migration, and improved note management.
Do your own DD, my posts are highly opinionated. If you do not agree with my posts, feel free to block me. I am not an investment professional nor do I give investing advice. You alone are responsible for your investments
Liked By
Spread the love. Be the first to like this post!
Recent ZECUSD News
- Binance To Delist Monero, Zcash, And Other Privacy Coins As Regulatory Pressure Intensifies In Europe • ZyCrypto • 06/01/2023 01:19:29 PM
- Binance to delist privacy tokens in France, Italy, Spain and Poland • Cointelegraph • 05/31/2023 01:14:06 PM
- ZEC Coin Up Despite Security Firm Identifying Vulnerability In Zcash • NEWSBTC • 03/20/2023 01:30:57 PM
- More than 280 blockchains at risk of ‘zero-day’ exploits, warns security firm • Cointelegraph • 03/14/2023 05:30:13 AM
- Binance Upgrades Proof Of Reserves Verification For Better User Privacy • NEWSBTC • 02/10/2023 11:40:21 AM
- Solana (SOL), Zcash (ZEC), Hedera (HBAR) and Four Under-the-Radar Altcoins Primed for Breakouts: Santiment • The Daily Hodl • 01/05/2023 03:30:21 PM
- ‘Secret’ Altcoin Goes Parabolic After Rumors of European Ban on Privacy Coins Swirl • The Daily Hodl • 11/18/2022 02:01:08 AM
- EU Moving to Ban Privacy Coins: Report • Crypto Briefing • 11/15/2022 05:07:40 PM
- Privacy Is a Gradient: An Interview With Zcash’s Josh Swihart • Crypto Briefing • 11/08/2022 01:04:42 PM
- Ethereum’s Buterin Seeks Dogecoin’s Switch to PoS as DOGE Becomes 2nd Largest PoW Coin • ZyCrypto • 09/25/2022 07:24:01 PM
Green Egg to launch $150 million bond offer for quicklime products production kiln plant Sep 22, 2023 12:11 PM
Nate's Food Co. Announces Reverse Merger and Change of Control with JP Energy Group to Drive Global Expansion • NHMD • Sep 22, 2023 9:00 AM
Trio Petroleum Corp Provides Update on Testing of the HV-1 Discovery Well • TPET • Sep 21, 2023 9:38 AM
Pathways to Progress: How Orphan Drug Designation Sparks Biotech Transformation • GNPX • Sep 20, 2023 8:45 AM
Caduceus Provides Update on Its Plans for The Second Half of The Fiscal Year • CSOC • Sep 20, 2023 8:26 AM
RESILIENT ENERGY INC. (RENI) PURSUING ACQUISITION TARGETS • RENI • Sep 19, 2023 10:30 AM