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Zcash Team Introduces Fortnight Activity Report

13:59 08/10/2018

The representatives of the cryptocurrency project Zcash published a two-week report on their operation.

 

 

The team held two meetings for the staff, one of which was attended by Jon, the ShapeShift crypto exchange's COО. The expert gave a talk on supporting shielded addresses, which use the zk-SNARK cryptographic solution.

 

As also reported on the Zcash blog, at the second meeting with a group of users, developers introduced a demo version of the platform that encrypts transaction data.

 

 

In addition, the team gave an overview of the future product called Sapling — a large-scale network update that facilitates shielded transactions. Thus, Zcash hopes to popularize its addresses among mobile users, exchanges and vendors of goods and services.

 

Hidden z-addresses, in contrast to transparent t-addresses, are considered more reliable and secure. As reported on the Zcash website, such transactions can be completed in a few seconds and require as little as 40 megabytes of memory. The solution operates on the zero-knowledge proof. The update will be issued on October 29, 2018, at 02:52 (UTC+03:00).

 

In connection with the work on Sapling, the startup team decided to postpone the release of a new version of Zcash client 2.0.1 until the next week, which was also mentioned in the report.

 

Recently, Vitalik Buterin has suggested using the ZK-SNARK solution in order to improve the scalability of the Ethereum network up to 500 transactions per second.

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