Zcash Upgrades Crosslink, ZEC Staking Feature Coming Soon!
2024-08-12
Bittime - Zcash will upgrade "Crosslink” soon. What is a Crosslink upgrade? Read this article to the end to find out the full news!
Zcash: The Importance of Privacy in the Crypto World
Zooko Wilcox, founder of Zcash, emphasized that Zcash provides the ability for anyone to use personal assets without coercion, a feature he believes is critical for civil rights, business, and social change.
In a world where privacy is increasingly becoming a major concern, Zcash offers a solution with technology capable of protecting user identities and transactions from unwanted third parties.
Read Also: Avail Launches Mainnet, You Can Stake AVAIL Tokens!
Crosslink Upgrade by Zcash: What is it?
This Crosslink upgrade is a combination of Proof of Work (PoW) and Proof of Stake (PoS) protocols designed to bring a number of benefits to the Zcash ecosystem. Following are some of the main features that will be presented from this Crosslink upgrade.
- Staking ZEC: One of the most anticipated features is the ZEC staking feature. With this feature, ZEC holders can lock their tokens to support network operations and earn rewards in return.
- Transaction Finality: This Crosslink upgrade will also increase transaction finality, which means transactions will be faster and safer from rollback attacks, namely transactions that have been confirmed can be canceled or changed.
- Reduction of Transaction Waiting Times: Zcash users will enjoy shorter transaction waiting times making ZEC transfers more efficient and convenient.
- Better Two-Way Bridge Security: The Crosslink upgrade will enable more secure two-way bridges with other networks, as well as facilitate better interoperability between Zcash and other blockchains.
Zcash Development Fund
In addition to the technical upgrades, Wilcox also announced the launch of the "Zcash Sustainability Fund." This fund is designed to ensure the long-term sustainability of the Zcash network and development without exceeding the maximum supply limit of 21 million ZEC.
Wilcox emphasized that all these upgrades will be implemented as quickly as possible without sacrificing the superior security that has become a hallmark of Zcash. In the ever-evolving world of crypto, security threats and privacy breaches have become priority main. Zcash is determined to continue providing safe and private solutions.
Also Read: Zeta Markets Launches $ZEX Staking Airdrop, Total Reward 20 Million!
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