Blossom Update: what does it mean for ZcashColin Baseman
The Electric Coin Company, the developer of the Zcash coin, announced the launch date of the Blossom update. Its management on Twitter said that the activation will take place on the block number 653 600. According to calculations, its launch will take place on December 11.
What is Blossom
This update will be the third in the history of anonymous cryptographic currency. Thanks to it, the block time will be reduced by half (up to 75 seconds), which will increase the speed of transactions and the process of creating subsequent chains.
According to the developers, thanks to this update, the parameters of the Zcash coin will be improved by an order of magnitude, low transaction fees will be preserved and their number will be increased. The project team recommends that each node owner be ready to upgrade. To do this, you must download the latest version of the software. This applies to custodians and cryptocurrency exchanges.
Developers in the summer talked about the upcoming changes as grandiose. According to them, the protocol will be completely revised. Electric Coin Company has announced its plans to support sharding.
About the previous sapling update
The previous update to Zcash was called Sapling. It went well. Both the project team and users were satisfied. The developers announced their readiness to carry out further improvements.
David Campbell, one of the coin's TOP executives, commented on the past update: "Sapling will significantly improve the performance of zk-SNARK zero knowledge proofs, forming a secure register of balances without specifying the amounts and parties to the transaction. Under the new rules, private transactions have become extraordinarily efficient for functioning on hardware and hot wallets.
What to expect from Blossom
Initially, the activation of the update was scheduled for October 2019 exactly 12 months after the implementation of Sapling. Key features of Blossom:
- Simplifying support for a lightweight client by changing the basic consensus protocol
- Division of rewards
- Rollback protection exceeds a certain length
- Termination of support for Sprout addresses and tokens stored on them. The exception is the possibility of transferring money from them to the updated addresses
- The improved algorithm for mining unit
- The use of an improved system of evidence
- BOLT level II Protocol support
- Enhanced security and usability
- Implementation of new tools to protect coin holders and users
What to expect from Zcash in the future
An important direction of cryptocurrency development is to ensure the understanding and adaptation of society to digital currencies. They are not yet widely used. According to the developers, Zcash is a "flying machine without doors". Blossom aims to achieve this goal.
Mr. Campbell spoke about the new zcash strategy. According to him, the openness of the project will be increased. The coin is open source. Therefore, each user can run his node, analyze the code for vulnerabilities, make sure there are no weaknesses and vulnerabilities.
Zuko Wilcox, who is at the origins of Zcash, encourages community members to report their visions for the development of the project to improve the system. Technical proposals of users should meet the network parameters.
The developers have stated: "It is important for us to have an idea how your proposal can be useful to the community and what goals will be achieved. Functions that meet all the characteristics and requirements are tested accordingly and sent for implementation."
Striving for greater mobility
David Campbell said that in the past, developers have tried to make the code safe and stable in order to support a reliable Protocol. The key priorities were not the creation of the application interface code. As a result, the interface became available in the GUI SOFTWARE or in the Linux command line, it required a full node and blocking on the zcash address. Campbell emphasized that the considered options are not viable in the field of mobile devices:
"The wallet department was created in order to develop an open source wallet for mobile devices. The program is designed to provide opportunities that have become familiar with the use of various cryptocurrencies.
The Zcash Foundation is working on applications that allow other developers to build wallet utilities and software for mobile devices based on the platform. Secure wallet for transactions Electron Zcash became one of the winners of the program 2018Q2".
ASIC protection and partnership with Parity
The Zcash foundation has started a partnership with Parity. Its goal is to form an organization independent of Zcash, which would create software for the project.
It is important to understand that the company and the Zcash Fund are fundamentally different structures, their representatives from time to time focus on this. There is information that the implementation will be built in the Rust programming language.
Zcash will continue to resist mining with ASIC. Campbell noted: "Of course, the mining community is cruical in supporting the decentralization and security of the Zcash crypto currency. The Equihash algorithm is used to control its Protocol. It is expected to be fully resistant to ASIC. Does this mean that it is important for beginners to enter mining? In the article "Mining farm in 2020" you can consider the position of experts in this area.
There are high hopes for the Blossom algorithm. A good reputation of the developer gives confidence in the success of his plans. Its goal is to improve the parameters of the coin and focus it on mobile users. Most likely, after the update, the Zcash rate will rise sharply. Therefore, do not miss the opportunity to purchase coins in advance and make money on it.
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