The Privacy Coin Zcash is getting ready for the Sapling upgrade with the first version of the network software compatible with the upcoming Sapling Hard Fork. For this, Zcash has released version 2.0.0 on Thursday and has also announced the hard-fork date and block height.
The Hard Fork is to be activated on the second anniversary of Zcash, on October 28, 2018, as reported on the Zcash blog . The first Sapling block is to be dismantled at the block height of 419,200. In the Testnet version of the Zcash network software, Sapling is activated at block 280,000, an event that is likely to take place in the coming weeks.
Sapling is the third major software update for the Zcash network since its launch in 2016 and comes after the original Sprout upgrade and the last overwinter release. The company encourages all users and miners to upgrade to the new version as soon as possible.
The Sapling upgrade is designed to significantly reduce storage requirements for private transactions, resulting in significant improvements in the efficiency of shielded transactions, as well as updating blockchain zk-snarks encryption to make them more secure.
Currently, most Zcash transactions are sent via transparent addresses that work in the same way as Bitcoin. The main reason for this is that the system requirements on the processing computers are too high to perform shielded transactions. This should change with Sapling and resources weaker terminals should be able to perform the necessary operations. The old Sproud addresses are replaced by the new, shorter Sapling Z address. The old Sprout-Z addresses will continue to work, but will be gradually removed after Sapling’s activation, but in favor of the new address.
Transactions with the new Sapling Z addresses are expected to be completed in just seconds with just 40 megabytes of storage, making it easier for exchanges, wallet providers, and other third-party providers to support shielded addresses. The increased use of the shielded addresses should improve the effective privacy for the entire network.
Other changes and new features of the Sapling upgrade have been described in this article . The Zcash share price is currently around $144, which reflects a downfall of 3.6% on a daily chart and a downfall of 6.7% in the weekly chart. Like all other cryptocurrencies, Zcash has also not been spared the market downturn and is currently around $810 or 84 percent below the all-time high of around $955.