Zcash miners will receive their rewards directly with shielded transactions

Zcash miners will be able to receive their rewards through z-addresses, shielded or protected. This is one of the improvement proposals (ZIP 213) incorporated in the Heartwood update, which will be available on the testnet after its activation at block 903800, scheduled for approximately May 6.

Electric Coin Company, the company behind the development of the Zcash network, advertisement this April 23, the release of version ZEC V2.1.2, which supports the activation of Heartwood; the improvement that, for now, will not be available on the main network. The new update will incorporate the ZIP 213 (Shinded Coinbase) and ZIP 221 (FlyClient) enhancement proposals.

ZIP 221, also known as FlyClient, will enable greater interoperability by providing a more efficient method for block verification. In short, it is a way to validate the entire ledger using as little information as possible.

The FlyClient protocol will increase the interoperability of the ZCash network and change the format of the block headers, enabling participants to work more efficiently with thin clients. In particular, with the implementation of the protocol, it will be possible to use the Simplified Payment Verification (SPV) methodology, which allows verifying a transaction with a fairly high degree of reliability, without running a full node. This method is used, for example, in the Bitcoin and Ethereum blockchains.

The second proposal, Shielded Coinbase, will change the consensus rules on the ZCash blockchain to allow miners receive rewards for shielded addresses. This feature can only be implemented because at the end of 2018 developers activated the Sapling protocol on the network, reducing the amount of resources required to create secure transactions.

Great expectations for major changes

“The implementation of Shinded Coinbase will be an important milestone in the development of the ZCash network, as it will significantly increase its confidentiality. We expect ZIP 213 to increase the demand for shielded transactions across the ecosystem, ”the company noted.

With the Heartwood Update and Network Update 4 (NU4) planned for November, which will implement ZIP 1014 to ensure future funding for the ecosystem, the Zcash community appears to have a clear roadmap for the remainder of 2020.

The latest large-scale upgrade on the ZCash network was activated in December 2019 with the Blossom update. As reported by CriptoNoticias at the time, the Electric Coin Company increased the speed of generating blocks on the blockchain and reduced the remuneration of miners.

The company recently published a report on the progress it worked on during the first quarter of the year and highlighted that it has taken advantage of its network, based on privacy, to develop an application to track people infected by the coronavirus, but without sacrificing its data. personal.

We wish to give thanks to the author of this post for this remarkable content

Zcash miners will receive their rewards directly with shielded transactions

Dispensary Business News