$ZEC , the full-node software Zakura, released version 1.7.0 today at noon Beijing time, adding the next network upgrade, NU7, to the mainnet. The upgrade is expected to launch early next month.
ZEC is Zcash’s native coin, designed for privacy-focused payments that let users choose to conceal the amount and the sender and recipient when making transfers.
The most immediate change in NU7 is that block intervals will be shortened to 25 seconds, significantly reducing the time it takes for transfers to receive confirmations.
The upgrade specifications also state that some transaction fees will be removed from circulation, and a sustainable mechanism will be introduced to generate long-term revenue for the network, without increasing ZEC’s maximum supply.
One thing to note: after the upgrade, the old transaction format will no longer work. The earliest Sprout privacy pool can only send funds using the old format, so any coins still in it at that point will be stuck.
Node operators also need to install the new NU7-compatible version before launch. Nodes that are not upgraded will fall out of sync with the mainnet.
ZEC is Zcash’s native coin, designed for privacy-focused payments that let users choose to conceal the amount and the sender and recipient when making transfers.
The most immediate change in NU7 is that block intervals will be shortened to 25 seconds, significantly reducing the time it takes for transfers to receive confirmations.
The upgrade specifications also state that some transaction fees will be removed from circulation, and a sustainable mechanism will be introduced to generate long-term revenue for the network, without increasing ZEC’s maximum supply.
One thing to note: after the upgrade, the old transaction format will no longer work. The earliest Sprout privacy pool can only send funds using the old format, so any coins still in it at that point will be stuck.
Node operators also need to install the new NU7-compatible version before launch. Nodes that are not upgraded will fall out of sync with the mainnet.