Crypto: Zcash achieves near-unanimity with 99.9% support for its major update
Zcash is preparing to significantly reduce the time between its blocks. During a vote organized around the NU7 update, 99.9% of the ZEC expressed supported moving from 75 to 25 seconds. Crypto holders also chose, with 98.9%, to keep the current schedule for halving events. Approximately 2.4 million ZEC participated in the vote, out of 3.6 million eligible at the time of the snapshot. For this privacy-focused crypto network, NU7 affects both performance and the future issuance of ZEC.
99.9% of voting ZEC support blocks every 25 seconds.
98.9% chose to keep the current halving system.
The NU7 activation date has not yet been set.
Zcash gets 99.9% for blocks that are three times faster
The result leaves little room for doubt on this specific point. ZEC holders overwhelmingly voted to reduce the target time between two blocks. It is one of the most visible changes proposed for NU7, a new stage following the significant modifications already made this year to the protocol, especially with the Zcash Ironwood update.
Today, Zcash targets a block every 75 seconds. ZIP 218 proposes reducing it to 25 seconds. A transaction that expects a first confirmation could, on average, receive it about three times faster.
The vote was not low. According to the results published on the Zcash forum, approximately 2.4 million ZEC crypto participated, against 3.6 million present in the eligible pool at the time of the snapshot. This represents roughly 66% participation by value. The threshold set to consider the vote sufficiently representative was one million ZEC.
$ZCMD.US
$ZIP.US
$ZEC
#zcash
Zcash is preparing to significantly reduce the time between its blocks. During a vote organized around the NU7 update, 99.9% of the ZEC expressed supported moving from 75 to 25 seconds. Crypto holders also chose, with 98.9%, to keep the current schedule for halving events. Approximately 2.4 million ZEC participated in the vote, out of 3.6 million eligible at the time of the snapshot. For this privacy-focused crypto network, NU7 affects both performance and the future issuance of ZEC.
99.9% of voting ZEC support blocks every 25 seconds.
98.9% chose to keep the current halving system.
The NU7 activation date has not yet been set.
Zcash gets 99.9% for blocks that are three times faster
The result leaves little room for doubt on this specific point. ZEC holders overwhelmingly voted to reduce the target time between two blocks. It is one of the most visible changes proposed for NU7, a new stage following the significant modifications already made this year to the protocol, especially with the Zcash Ironwood update.
Today, Zcash targets a block every 75 seconds. ZIP 218 proposes reducing it to 25 seconds. A transaction that expects a first confirmation could, on average, receive it about three times faster.
The vote was not low. According to the results published on the Zcash forum, approximately 2.4 million ZEC crypto participated, against 3.6 million present in the eligible pool at the time of the snapshot. This represents roughly 66% participation by value. The threshold set to consider the vote sufficiently representative was one million ZEC.
$ZCMD.US
$ZIP.US
$ZEC
#zcash
