Zcash hard fork Overwinter now activated | finder.com

Zcash hard fork Overwinter now activated

Peter Terlato 26 June 2018 NEWS

Participating users should upgrade to the latest Zcash client software and wait for their nodes to sync.

Cryptocurrency Zcash has completed a successful hard fork, implementing the Overwinter protocol upgrade.

The token’s first hard fork occurred during the early hours of June 26, when the network mined block 347,500.

Zcash marketing director Josh Swihart confirmed the announcement in a blog post, explaining that the action was aided by the network’s new two-tiered governance model. The first tier is an opt-in upgrade.

“This means that all nodes on the system have the option to upgrade their node with the latest protocol rules,” he said. “The intent of the opt-in upgrade is to remove chaos introduced by other governance models where users are forced down a certain path, potentially without their knowledge or consent.”

Swihart revealed that the second tier represents advocacy and education.

“Node operations should be able to make a well-informed decision, within a reasonable amount of time,” he said. “The Zcash Company advocated for the Overwinter upgrade by educating and working with miners, exchanges, wallets and vendors on their implementations well in advance of the activation.”

In an interview with Coindesk over the weekend, Zcash engineer Simon Liu said that there was “unanimous support from all parties” for the Overwinter upgrade. On the company’s website, 12 exchanges were listed in support of the hard fork, while other mining pools publicly expressed their support for the protocol upgrade.

Zcash recommends that participating users simply upgrade to the latest Zcash client software and wait for their nodes to sync at least past the activation block height. Swihart added that anyone suspecting issues should monitor the company’s security announcements.


Zcash reveals proposed roadmap to 2020

The Zcash company is funded through a share of mining rewards through to October 2020. After this time, consensus rules state that 100% of mining rewards will acquired by miners.

The Zcash team recently got together to establish a two-year roadmap and list of funding priorities.

The company plans to create a reference implementation of a mobile wallet along with open source libraries to accelerate adoption by third parties and prioritize related work necessary to encourage broad adoption.

Zcash will also push for privacy-by-default.

There will also be research and development to encourage scalability, continued business development and progressive marketing practices, plus ongoing maintenance, decentralization and support for the network.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

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