Big Promises on Zcash (ZEC)’s Next Upgrade To Make Payments Faster and Lighter
Zcash is about to receive its next upgrade and there are promises that this will make it 100 times lighter and at least six times faster, which could considerably improve the scalability of the asset.
The new upgrade is scheduled for activation on October 29 and it looks like it will be a significant improvement over the overall quality of the project. It will use, for instance, ZK-snarks, a new protocol that runs cryptography in order to obscure data transactions. The update will be called Sapling and was made by the Zcash company, the for-profit company that created Zcash in 2016.
Sapling will introduce changes that will make the shielded transactions faster because they will be lighter and will also let them use the token from the mobile wallets. The CTO of Zcash Company, Nathan Wilcox, has told the media that the protocol will be used for shield transfers that will be 100 times memory consuming, which can speed up the process six times.
However, it should be noted that these shielded transactions can only be made by people running full nodes of the program at their computers. The company is also set to remove the transparent transactions because they can be harmful to the anonymity when they are used together with the shielded transactions.
The main effort is to create a new era of “privacy” by default to be used by the coin holders in which they will no longer make unshielded transactions. Wilcox has also affirmed that the protocol will improve the security and performance so the company is focusing on making a really stable launch.
A New Era For Zcash
Wilcox believes that Zcash would be too cumbersome and inefficient if it were not for the changes that the company is planning to implement now. Also, the “light clients” will be considerably more protected as they will have more assurances to be protected even without so much structure.
The new system will protect light clients because it will not let them reveal transaction information without meaning to with the use of the trustless code. According to Wilcox, the goal of the company is to make a light wallet that can be protected against a service provider and that will make sure to work well with privacy.
Another feature proposed by the new Sampling update is that it will encourage more users to shield their transactions by using diversified addresses, which make easier for the exchanges to support more users using the same transaction type.
Also, there are promises that this can help privacy in the future as Wilcox affirms that the wallets with the new feature will be able to generate multiple addresses at the same account.
Finally, there are also plans to introduce a new feature that will reveal only selected transactions that will allow the users to benefit from optimal transparency in a way that can be less risky, meaning that you can have a system that is fully private by default but you can use a key to make your transactions public.
However, in order to enjoy all the features of the new version, you will have to migrate your funds from the old Sprout wallet to a new Sapling address. This move will reveal the funds of the user, which is not a good thing in a company that is focused on privacy.
Wilcox states that it was done in an intentional way and that it is called a turnstile audit because there is always the possibility of something being compromised in the process. The concern is that users could print nonexistent Zcash tokens if this was not done, so this is why the company has chosen to do it.
By doing this turnstile audit during the Sampling migration, Wilcox believes that there is a way to make a global auditing that will be used in case there is a problem.
At the moment, the Zcash Company is currently working to release a migration tool that will be used to migrate the funds to the new wallets. While the tool will certainly not be ready for months to come, both Sapling and Sprout will continue to be supported. Sprout will be retired in the future, but not too soon.
However, Wilcox has affirmed that the funds will not be impacted by the end of the support and that people will no longer be able to receive funds but they will still be able to send them to the new wallets even after the support of these models is closed.
Wilcox will not support both networks for too long, though, as he believes that most people will simply upgrade to the newer version soon as it is more scalable and it will allow the exchanges and wallets to support many users in a more efficient way.