Zcash Roadmap 2018 unveiled

Learn about what Zcash team is going to do in 2018
11 December 2017   2360

Zcash team has published a roadmap for upgrades, which is planned to be implemented in 2018. In particular, the approximate release date of the Sapling protocol is indicated, which will draw a line under the current implementation of the Sprout protocol, after which the project will move to a new stage of development.

In addition, the developers reported on another, previously unannounced update called Overwinter - its release is scheduled for June 2018. The main task of Overwinter will make further updates more secure for users, even if the network is in conflict with the management system.

Additional details will be provided in the nearest future.

As for the key update of the Sapling network, it is scheduled for September next year.

Sapling will activate the Sapling protocol update, bringing orders of magnitude improvements in both time and memory to shielded transactions, making mobile wallet support feasible. Additionally, Sapling will rely on the Powers of Tau open-participation parameter setup, largely mitigating concerns about the parameter setup risks for zkSNARK applications (including other applications outside of Zcash).
 

Zooko Wilcox and Nathan Wilcox

Zcash Team 

Sapling will support the configuration of the Powers of Tau parameters, which should significantly reduce the likelihood of problems and risks when installing applications using zkSNARK technology.

One of the main tasks of zk-SNARK is to provide complete encryption of transactions in the block system and protect related metadata. In other words, zk-SNARK can also be called a kind of mechanism by which you can prove the possession of information without disclosing the fact itself and without any interaction between the parties. Earlier it was reported that the developers also plan to use the technology Ethereum.

Also it is said that in the near future in the network of Zcash can be implemented and other updates, including the finalization of the system of smart contracts and consensus mechanisms.

An open community of scientists and engineers world-wide is already at work exploring what other improvements are technologically possible for Zcash and other such open cryptocurrencies. Possibilities include scalability improvements to allow practically unlimited numbers of transactions, novel consensus algorithms such as Proof-of-Stake, and private and scalable smart contracts. 
 

Zooko Wilcox and Nathan Wilcox

Zcash Team 

It is also worth noting that Zcash network was launched on 28th of October, 2017. 

Zcash Team to Report on Crititcal Vulnerability Fix

Vulnerability was found back almost a year ago, it was kept in secret to minimize risks
06 February 2019   187

Zcash Company, behind the development of Zcash cryptocurrency, revealed the details of the vulnerability that allowed attackers to create an unlimited number of non-existent ZEC coins.

According to a company blog report, March 1, 2018, Zcash cryptographer Ariel Gabizon discovered a vulnerability in the zk-SNARKS protocol, which Zcash uses to hide balances and user data.

Cryptocurrency developers decided not to disclose the details of the problem by including a patch in the update of the Zcash Sapling protocol, which was activated in late October. And only now the project team has publicly disclosed the circumstances of the incident.

The vulnerability was specific to counterfeiting and did not affect user privacy in any way. Prior to its remediation, an attacker could have created fake Zcash without being detected. The counterfeiting vulnerability has been fully remediated in Zcash and no action is required by Zcash users.
 

Zcash Team

Also, developers note that the detection of vulnerability required an advanced level of technical and cryptographic knowledge that few possess.

After the discovery of the vulnerability, Zcash Company took "exceptional measures" to minimize the possibility of its operation, and also notified other cryptocurrency teams using the zk-SNARKS protocol, including Horizen and Komodo, about its existence.