ZenCash to Undergo 51% Attack

The attacker was able to double spend two large transactions for a total of $ 550,000
04 June 2018   760

The network of ZenCash cryptocurrency was attacked. The initiator of the attack, which captured more than 51% of the hashrate of the network, was able to reorganize the blocks in the blockchain and double spend two large transactions. This is reported by Bitcoinist.

ZenCash cryptocurrency was attacked; one miner was able to take 51% of the network's processing capacity. This allowed the initiator of the attack several times to reorganize the blocks in the blockchain, and the largest modified chain contained 38 blocks. The attacker was able to double spend two large transactions for a total of $ 550,000. Mining-pool operators alerted the ZenCash team about the issues. ZenCash team recommended that all exchanges to increase the number of transaction confirmations.

During the attack, approximately 110 blocks were mined, and its duration was about 4 hours. 1 hour of this attack costs the organizer $ 7,700.

ZenCash is a crypto currency with the Proof-of-Work mechanism of consensus and the Equihash mining algorithm. 

Zcash to Implement Sapling Hardfork

Zcash team says that Sapling is a rebirth of the coin
29 October 2018   305

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.