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The Company Electric Coin Company (ECC) announced the launch of a major update in the mainnet of the privacy-oriented cryptocurrency Zcash (ZEC).
NU5 activates on mainnet, eliminating trusted setup and launching a new era for Zcash. https://t.co/tBIJC6mdU4
— Electric Coin Co. (@ElectricCoinCo) May 31, 2022
“NU5 – the first major update since November 2020 – includes the launch of a secure payment protocol Orchard, using the Halo verification system,” the report said.
Halo is positioned as a “non-trustworthy recursive version” of zero-knowledge evidence. It is designed to significantly increase the scalability of the system and eliminate the need for “trusted installations”.
The ECC noted that thanks to the open source verification system, protocols such as Zcash “benefit in efficiency and security.”
The update also includes Unified Addresses, a format that provides users with a single Zcash address that is compatible with all existing pools.
ZEC practically did not react to the news about the activation of the update. At the time of writing, the price is near $93. In the ranking of crypto assets by capitalization, the coin ranks 58th with an indicator of $ 1.16 billion, according to CoinGecko.
ZEC/USDT chart of Binance exchange. Data: TradingView.
On October 28, 2021, the Zcash community celebrated five years since the launch of the main network. During this time, the developers conducted upgrades to Overwinter, Sapling, Blossom and Heartwood, as well as halving with the simultaneous launch of the Canopy update.
Earlier, Electric Coin Company published a roadmap for the project until 2025. The team called the plan “aggressive, but achievable”, including the transition to the Proof-of-Stake consensus algorithm, interoperability and the official ESA wallet.
Recall that in April 2022, the ex-employee NSA and CIA U.S. Edward Snowden has revealed his involvement in the launch of Zcash.
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