Zcash, the number 19 at Coinmarketcap’s cryptocurrency list, has activated its network upgrade called “Sapling’.
Aimed to improve efficiency for shielded transactions, the upgrade hopes for a broader mobile, exchange and vendor adoption of Zcash shielded addresses.
Success! We’re happy to announce that the #Zcash Sapling network upgrade activated today at block height 419200. #Sapling introduces new #shielded addresses with significantly improved performance. — Zcash Company (@zcashco) October 29, 2018
There are two types of transaction slots in Zcash, transparent and shielded. T-type (transparent) works with complete information of sender and receiver available to public while Z-type (shielded) allows a private space to transactions, away from public eyes. In shielded addresses, only the sum of transaction is available to public while very little of sender and receiver.
The concept isn’t new and has been adopted by other cryptocurrencies. It is also known as privacy-centered model.
In Sapling upgrade, transactions that involve the new Sapling z-addresses can be constructed in as little as a few seconds and with only 40 megabytes of memory.
In addition to time-saving, Sapling has additional benefits too.
Before Sapling, z-transactions required the creation of a zero-knowledge proof while the hardware that constructed the proof had to be in the possession of the spending key that authorizes the transaction. Sapling changes this by allowing proof-constructing hardware to be independent from the hardware that signs the transactions.
Also, the viewing key for z-transactions allowed the key holder to view only incoming transactions and memos. They weren’t able to see sender’s address. With Sapling, an extended viewership has been granted for transaction value, memo field and target address.
‘Making shielded addresses ubiquitous is at the heart of our mission. ‘Empowering everyone’ is more than just words to our team.’ — Zcash blog
All exchanges that have listed Zcash have accepted this upgrade, making the dream of shielded addresses a normalcy a little closer to being fulfilled.
Zcash price was the only thing that wasn’t satisfied with this upgrade and lost alot of value today.
But in the long run, this upgrade is a great step towards ‘default-privacy’.