HomeNewsCryptocurrencyZCash News #1: Dev Hangout, BLAKE3, RoundlyX, ZIP1041, Mobile Privacy, Network...

ZCash News #1: Dev Hangout, BLAKE3, RoundlyX, ZIP1041, Mobile Privacy, Network Health

Privacy coins will have a bright future ahead of them. ZCash is one of the currencies competing for traction in this particular space.

To start off the year 2020, a fair amount of news has come out already. There will be plenty of changes in the near future, as it becomes crucial to keep an eye on the bigger picture.

ZCash Protocol Dev Hangout

YouTube is often a good source to find a lot of news regarding specific cryptocurrencies. In ZCash’s case, there are regular videos known as Protocol Hangouts. During these videos, a variety of different topics are discussed to determine the future of this project.

Members who support ZEC and its fundamentals may want to keep an eye on these regular videos. More often than not, they provide a wide range of viable information that may not be documented anywhere else. This video does not disappoint in this regard. There is room for plenty of improvements where this ecosystem is concerned.

The BLAKE3 Discussion

This particular cryptographic hash function is of great interest to developers. It is designed by a team of members, among whom is ZCash’s Zooko Wilcox. The purpose of BLAKE3 is to be faster and offer useful properties all around.

It is evident that ZCash considers itself a project designed for testing cryptographic applications. As such, the implementation of BLAKE3 is something to look forward to. Even if it isn’t implemented in the end, the research poured into this hash function is worth taking a closer look at. 

RoundlyX Support

Converting spare change into small amounts of cryptocurrencies can be very beneficial. Several companies support this option at this time. One of those companies is RoundlyX. It has integrated ZCash support not that long ago. Any option to get ZEC into more people’s hands is a positive development.

Mobile Shielded Transactions

One of the biggest developments in January is the suite of mobile libraries. With this set of tools, developers can bring shielded transactions to mobile devices. A new Android SDK has been released with full ZCash mainnet support.

On the iOS side, there is a new SDK with virtually the same functionalities. Last but not least, the ECC introduces a lightwalletd server to support shielded transactions. Achieving privacy on mobile is often difficult, but this release may help shake things up a bit. 

ZIP 1014

Advancing the ZCash ecosystem can be done in different ways. The ongoing improvement proposals are always interesting to keep a close eye on. The current proposal on the table goes by the ZIP 1014 label. 

Its core purpose is to create a Development Fund for the next four years. Block rewards would be “deducted” by 20% to fund the future development of ZCash. It is expected how the funding will be capped at $700,000 per month per slice. Slices are distributed among the ECC, the Foundation, and Major Grants. 

Current Network Health

The state of any cryptocurrency network is often gauged by looking at transactions and active addresses. For ZCash, there has been relative stability in active addresses lately. That doesn’t mean the network isn’t growing, however This is a common trend across the different cryptocurrency ecosystems on the market today.

Fintoism ZEC 2401

In terms of transactions, the network still looks pretty strong. Plenty of ZEC is being moved across the network on a regular basis. This is despite the number of transactions being much lower now compared to a year ago. Picking up the pace a bit may prove crucial in the months to come.

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.
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