First Sapling-compatible Version: What It Means For ZEC Price? - ZCash News and Price Prediction. Tuesday, August 28
Important ZCash Cryptocurrency News
First Sapling-compatible Version
The release of new Zcash node is a great step for the whole community, as the updated version finally utilizes the Sapling features. This update is essential in the preparation for the upcoming Zcash fork. "The first block of Sapling will be block 419200, which is expected to be mined on the 28th of October 2018, the second anniversary of Zcash’s official launch" The official date may still change, depending on the pace of creating new blocks.
Before this happens, all of the nodes need to be updated to Version 2.0.0 or above, as the nodes which won't have been updated will simply exit with an error message.
"Sapling is a major protocol upgrade. Due to recent cryptographic breakthroughs, shielded (or private) addresses and transactions will soon be supported by mobile and hardware wallets, exchanges and payment processors. This will greatly improve the adoption of privacy and bring us closer to our vision of empowering everyone with economic freedom and opportunity."
Gareth Davies has written an interesting article about "Why Zcash is set to shine in 2018". However, we are halfway through 2018, and the market movements have been as unexpected as never before, the article still gives some valid points to consider for the rest of the year.
And while it is impossible to predict which coin and if any of cryptocurrencies will in fact be able to provide its investors with huge profits, there are some factors which may play a significant role in growth of a particular coin. He mentions few notable events and updates which may affect the price, utility and adaptation of ZEC.
The first one is the upcoming hardwork of ZCash, which will fully implement Sapling.
"In summary here is what we can expect from the Sapling network upgrade:
- Faster verification times
- Lower memory requirements
- Improved security by implementing a new elliptic curve construction"
The second thing is the introduction of Powers of Tau ceremony, which increases the security of the protocol. "The Powers of Tau ceremony proceeds in turns, one turn for each participant. You can think of this process as a bit like shuffling a deck of cards in public. Each participant shuffles the deck, proves that they did not modify or add any of the cards, and then hands the deck to the next participant."
Another good move from Zcash Foundation is using the funds gathered from mining rewards to fund few side projects that can impact Zcash:
"- A mobile light wallet
- An alternative implementation of the Zcash protocol written in Rust
- Further support for managing and maintaining a TOR node infrastructure
- Web-based XCAT tool for atomic swaps between Bitcoin and Zcash
- Educational videos and outreach"
All of this taken into the consideration may be the factors of future ZEC prices and investors should keep an eye as each of these events, updates and forks will be taking place.
ZEC/USD Price Chart, Tuesday August 28th:
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