Zcash Team Introduces Fortnight Activity Report
The representatives of the cryptocurrency project Zcash published a two-week report on their operation.
Weekly update - Oct 5th:— Zcash Company (@zcashco) October 5, 2018
- Announced the new and improved Zcash brand and website
- Look out for 2.0.1 release announcement next week
- Catch Zcashers at SF Blockchain week and Scaling Bitcoin 2018 next week
More in the full update: https://t.co/vidcPC7rNT
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.
During this week's #Boston #Zcash meetup, we demonstrated receiving and sending encrypted memos with shielded $ZEC transactions.— Boston Zcash Users Group (@BostonZcash) October 4, 2018
Later this month it'll be easier and faster with Sapling!
Shall we perform this at every meetup? We can call it the Rite of zk-SNARK. pic.twitter.com/vbZ2hDyMZh
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.