Privacy-focused cryptocurrency zcash executed its first and long-awaited hard fork on Tuesday morning.
Called Overwinter, the upgrade was activated at 00:42 UTC on June 26 – the moment the network mined block 347,500, as previously reported by CoinDesk.
The event is primarily aimed to gear up the zcash code for its massive Sapling hard fork, currently scheduled to occur in October, and includes changes including versioning, replay protection for future forks and some performance improvements.
While it was not immediately clear how many nodes executed the Overwinter fork, zcash engineer Simon Liu previously told CoinDesk that there was “unanimous support from all parties” for the upgrades.
Indeed, 12 exchanges were listed as supporting the fork on the zcash website, while other mining pools publicly expressed support for Overwinter elsewhere.
The privacy-focused Zcash has become the next digital currency to have a “friendly” network split, with Bitcoin Gold being the first. Announced earlier this year, the fork saw the network split into two almost identical cryptocurrencies–Zcash and Ycash.
Privacy-centered altcoin Zcash is all set for a ‘friendly’ fork which would create an all-new blockchain independent of the mainnet, but the codebase will be near identical. The new-forked chain would be called Ycash.
Zcash Announces Impending Hard Fork Zcash, a cryptocurrency renowned for its privacy, is set to conduct a hard fork that will result in the creation of Ycash. The split is aimed at upholding the early adopters of the Zcash project.
A Zcash fork is now imminent. Tomorrow, the 26th June 2018 will see the implementation of the Zcash Overwinter hard fork, upon the completion of the mining of block 347500 which is expected to take place at 02:06 UTC+1:00 tomorrow (though the time may change slightly based on the network).
The first ever hard fork of privacy-oriented cryptocurrency Zcash is little more than a day away. The upgrade is called Overwinter and it will take place at block 347,500. What is Overwinter? Overwinter is set to become the very first hard fork for Zcash.
Called “Overwinter,” the update requires all users of the nearly $800 million blockchain to switch to a new software. That’s because the next hard fork upgrade, called Sapling, is all about eliminating the weight of the protocol’s private transaction types so that zcash can scale to more users. Essentially, there isn’t expected to be much
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