Zcash NU7 activation height finalized at 3,543,405: set to go live around November 5, cutting block time from 75 seconds to 25 seconds
This is one of the few major catalysts for the privacy coin sector this year: the activation details for Zcash’s ($ZEC ) NU7 upgrade have been finalized. Developer Sean Bowe submitted a proposal on Tuesday, October 20, setting mainnet activation at block 3,543,405. The Zakura node software upgrade dashboard has been updated with the same height, and the switch is expected around November 5 (CoinDesk, 10-21).
The upgrade has three main changes:
1. Block time will drop from 75 seconds to 25 seconds, making payment confirmations about three times faster. Based on three confirmations, exchange deposit delays will shrink from nearly four minutes to about 75 seconds (CoinDesk, 10-21).
2. About 60% of the fees from each block will temporarily be taken out of circulation and returned to miners starting in February 2031; the halving schedule will remain unchanged (CoinDesk, 10-21).
3. The first-generation privacy system, Sprout, will be fully retired. Funds still held in it before activation will become unspendable (CoinDesk, 10-21).
Market update: On October 21, $ZEC gained about 12% over 24 hours, reaching approximately $1,270 (CoinGecko, via Cointelegraph, 10-21). As of October 22, the price was about $1,313, up approximately 15.6% over seven days, with a market cap of about $22.4 billion, ranking tenth (InsideBitcoins, 10-22); open interest in futures was about $2.89 billion, a 30-day high (FXStreet, 10-22).
My take: The news has moved from “planned for November” to “activation height finalized,” removing another layer of uncertainty. The remaining concern is that the proposal has not yet been incorporated into the deployment specification, and the node software has not yet been updated with that height (as of October 21, 08:00 UTC; CoinDesk). There is still engineering risk around whether the switch can happen on schedule on November 5.
This is not investment advice.
#Zcash #PrivacyCoin
This is one of the few major catalysts for the privacy coin sector this year: the activation details for Zcash’s ($ZEC ) NU7 upgrade have been finalized. Developer Sean Bowe submitted a proposal on Tuesday, October 20, setting mainnet activation at block 3,543,405. The Zakura node software upgrade dashboard has been updated with the same height, and the switch is expected around November 5 (CoinDesk, 10-21).
The upgrade has three main changes:
1. Block time will drop from 75 seconds to 25 seconds, making payment confirmations about three times faster. Based on three confirmations, exchange deposit delays will shrink from nearly four minutes to about 75 seconds (CoinDesk, 10-21).
2. About 60% of the fees from each block will temporarily be taken out of circulation and returned to miners starting in February 2031; the halving schedule will remain unchanged (CoinDesk, 10-21).
3. The first-generation privacy system, Sprout, will be fully retired. Funds still held in it before activation will become unspendable (CoinDesk, 10-21).
Market update: On October 21, $ZEC gained about 12% over 24 hours, reaching approximately $1,270 (CoinGecko, via Cointelegraph, 10-21). As of October 22, the price was about $1,313, up approximately 15.6% over seven days, with a market cap of about $22.4 billion, ranking tenth (InsideBitcoins, 10-22); open interest in futures was about $2.89 billion, a 30-day high (FXStreet, 10-22).
My take: The news has moved from “planned for November” to “activation height finalized,” removing another layer of uncertainty. The remaining concern is that the proposal has not yet been incorporated into the deployment specification, and the node software has not yet been updated with that height (as of October 21, 08:00 UTC; CoinDesk). There is still engineering risk around whether the switch can happen on schedule on November 5.
This is not investment advice.
#Zcash #PrivacyCoin