Privacy-oriented cryptocurrency zcash for approaching the first hard forks in its history.
However, despite thoughts about the new developments or the distribution of coins, in fact the first hardwork zcash for called Overwinter (winter) is neither the one nor the other. The team primarily expects to lay the groundwork for more extensive future changes.
Despite the fact that the update contains several new features, co-founder of the project and the head of the company Zerocoin Electric Coin Company Zuko Wilcox, who is also the leader of the zcash for development, said: «the Goal hard forks — experience conducting network upgrades». The development team keeps the community zcash for the process.
Currently, the efforts of developers focused on optimizing scheduled for June fork Overwinter, and the following hard forks called Sapling. This hardwork will be accompanied by more severe changes, consisting in the acceleration of transaction network while maintaining the same level of security of cryptocurrency.
Despite the fact that in recent times the idea of the fork has changed slightly, they still cause resistance in the community, as they refer to governance mechanisms that force users to hold the updates. According to the developers, if the community zcash for safely takes the first transition, it will be able to cope with all the rest.
«If I say «hardwork», people immediately ask about the name of the new coins and conduct distribution,» says Wilcox, adding that he prefers to be called Overwinter «update network».
Changes in Overwinter
In the first place, will Overwinter in the network adds the so-called zcash for protection from the playback transaction, which is that if the old blockchain users submit transactions, these transactions could not be duplicated in the upgraded circuit.
According to Wilcox, the first hardwork is more of a safety measure than update because there is hardly a user, who asked not to be updated. But in the future, with more controversial upgrades, this can be a problem.
The most interesting new feature is the addition of a «termination transaction» – the mechanism through which the transaction action is terminated in an hour.
At first glance this function may seem strange, but quite often it happens that transactions stuck without evidence, since users pay the fee insufficient to miners picked up the transaction and included it in the unit. This issue often arose in Bitcoin, but users alithinou encounter it rarely, because the load on them blackany repeatedly below.
The opposition believe that this can cause security problems, but according to Wilcox, this feature will help users to save their money if they accidentally sent the transaction to the blockchain.
Another major change that Overwinter will bring to the network zcash for is the mechanism of verification of the signature.
The Holy Grail is?
In addition to hardporno, zcash for plans to solve one of the most pressing problems of the cryptocurrency industry is the scaling problem.
Despite the fact that while the team zcash for is not on the experiments, Wilcox reveals little secret. The team pursues interesting ideas, among which the «plasma» and sharding of Ethereum and Lightning Network developed for Bitcoin. While Wilcox is not sure who the first will find «Holy Grail» of scaling.
«Maybe it’ll be us, he says, noting that the zcash for may focus on self-development — Zk-snarks.
Technology Zk-snarks is used for anonymizing transaction zcash for, but at the same time is a promising solution for the data compression of the blockchain.
Anyway, while Wilcox prefers not to extend about a particular decision and says that even if it does work, it will take «years», but this possibility does not exclude it.