Zcash update released

Zcash announced the release of Zcash 1.0.13, introducing new features, memory proving, payment disclosure and experimental features
21 November 2017   1188

Zcash team made an announcement on November 20 introducing Zcash 1.0.13 version, which has new features, performance improvements and bug fixes. The new version is stated to have low-memory prover which reduces memory usage by 43% from 3 GB to 1.7 GB when a transaction is generated.

An experimental feature, payment disclosure, is aimed at helping services manage shielded payments better, and also the full support for the z_shieldcoinbase RPC call was announced in order to help miners sweep up and shield coinbase rewards.

The main changes are these:

  • Auto-senescence cycle was reduced from 18 to 16 weeks. 
  • Low-memory prover reduces JoinSplit creation memory usage from 3 GB to 1.7GB. 
  • Payment disclosure was added as an experimental feature with new RPC calls z_getpaymentdisclosure and z_validatepaymentdisclosure. This feature enables a sender to prove that a payment was made to a recipient, which can help services better manage their shielded payments. 
  • z_shieldcoinbase is now a fully supported RPC call 
  • Libsnark was brought into the source repository tree. 
  • Potential shutdown errors were fixed.
  • User interface messages were cleaned up. 
  • The extended QA tests were migrated to Zcash. 
  • A workaround was implemented in the test wallet_protectcoinbase, which was previously failing on some platforms. 
  • Benchmarking was updated with new performance measurements and fixes. 

It is worth mentioning that one week ago Binance, one of the most popular exchanges in the world, announced adding support for Zcash.

At the moment of press, these are main market parameters of Zcash:

  • Average price: $295.40
  • Marketcap: $788,190,390
  • 24h volume: $75,716,000

Zcash to Implement Sapling Hardfork

Zcash team says that Sapling is a rebirth of the coin
29 October 2018   306

In the main Zcash network, the Sapling protocol was activated, which is necessary to perform secure transactions and increase blockchain performance.

The update is activated at block 419200. It, in particular, will reduce the time for processing transactions up to 90%, as well as significantly reduce the requirements for the amount of memory required to perform secure transactions. Sapling activation will also make it possible to use lightweight clients for secure transactions, and not just full nodes.

Immediately after activating Sapling, users of the zcashd client have access to addresses of a new type. Currently, funds cannot be transferred from protected old addresses to new ones without disclosing the amount of the transaction. This makes it possible to audit the monetary base of ZEC relating to protected addresses. The Zcash team is currently working on creating a tool to automate the movement of funds without compromising user privacy.

The Zcash blog also says that Sapling activation is essentially a “rebirth of cryptocurrency” because it takes the project a step closer to mass adoption as an open and confidential payment system.