Sapling Upgrade To Be Launched In Zcash Blockchain On October 29
Zcash, a cryptocurrency platform, started a countdown for the launch of a large-scale upgrade of the Sapling network, according to the official website. Activation of the update will take place at the block 419200 and is scheduled for 00:56 (UTC), October 29, 2018.
The Sapling update is designed to improve hidden transactions. Thus, Zcash seeks to popularize its addresses among mobile users, cryptocurrency exchanges, as well as suppliers of goods and services.
Sapling provides for the use of new shielded z-addresses that can be created in just a few seconds and require 40 megabytes of memory. The solution works on the basis of a zero-knowledge proof. It is independent of the hardware. Owners of the hidden addresses will be able to view information about incoming and outgoing transactions without using private keys.
Users will have to upgrade their Zcash client to version 2.0.0 or higher. If nodes don’t upgrade, they will receive error messages. Only those who use their full nodes and manually set up the client to continue working on the old software will be able to avoid updating. The support of Sapling in the RPC interface will require version 2.0.1 or higher.
Following this news, the price of the Zcash cryptocurrency slightly increased but subsequently undergone a slight correction to $122.56 at 12:14 (UTC).