Latest Zcash Software Release Supports Network’s “Biggest Upgrade in History” – Bitcoin News

According to Electric Coin Company, the team behind cryptocurrency network Zcash, the protocol is about to implement the largest upgrade in its history. The Zcash development team has released the 5.0.0 codebase supporting the NU5 upgrade, which will take place around May 31st at block height 1,687,104.

Electric Coin Company and Zcash Prepare for Network Upgrade

Zcash, the second-largest privacy-focused crypto network in terms of market capitalization, will see a major upgrade on or around May 31. Electric Coin Company and Zcash developers have released binaries of the Zcash 5.0.0 codebase, and the binaries are now available via Zcash Download Portal. The developer requires all Zcash participants running the codebase software to upgrade to the latest version or any subsequent version.

According to the latest blog post from Electric Coin Company (ECC), NU5 plans to implement Orchard Shielded Payment Protocol and Halo Proof System. The company says it will “eliminate reliance on complex setup ceremonies.” “The efficiencies built into this upgrade enable private, trustless digital cash payments on mobile phones—for the first time ever,” noted the ECC’s blog post. “Halo also unlocks private cross-chain transactions at scale by providing a A proven system that paves the way for improved interoperability.”

Zcash founder Zooko Wilcox-O’Hearn goes further tweet Regarding Wednesday’s release. It’s here — Zcashd 5.0.0 — if Zcash users choose to run zcashd 5.0.0, then Zcash Network Upgrade 5 will be activated on mainnet at the end of this month,” Zooko said. “It’s a history of human society moving forward. Sex step. This is a historic step forward for two reasons: 1. It bases the world’s most robust currency – Zcash – on long-term, scalable and extensible cryptography. 2. It marks the maturity of zero-knowledge proofs as a general-purpose technology. “

The Zcash founder continued:

Network Upgrade 5 moves Zcash to the foundation of an entirely new zero-knowledge proof system: Zcash Halo, the first zero-knowledge proof system that is (a) efficient and recursive, and (b) does not depend on Ceremonies (“trusted set up”).

ECC exec: “Complex trusted setup ceremonies are now a thing of the past”

According to the ECC, the upgrade has undergone “extensive review at both the specification and implementation levels,” and the team also used third-party audits from NCC and QEDIT. Additionally, the team leveraged cryptography researchers from the Ethereum Foundation Mary Maller to conduct the review. Maller examines “Theoretical Reasoning Behind Protocol Zero-Knowledge and Soundness” in Halo2 Security ReviewJosh Swihart, ECC’s senior vice president of growth, product strategy and regulatory affairs, said the upgrade will be the largest yet in the protocol.

“NU5 is the largest network upgrade in Zcash history. By using the Halo proof system and the Orchard shielded payment protocol, complex trusted setup ceremonies are now a thing of the past, and users can make private, trustless digital cash payments on their phones,” Swihart said in a note sent to Bitcoin.com. . “This upgrade marks an important milestone, not only for Zcash, but also for the field of zero-knowledge cryptography.”

tags in this story

ECC, Electric Coin Company, Halo 2, Josh Sweetheart, Mary Mahler, Orchard Shielded Payment Protocol, establishment ceremony, upgrade, Zerocoin, Zero Cash (ZEC), ZEC, zero knowledge, zero-knowledge proof, Zooko, Zooko Wilcox-O’Hearn

What do you think of the upcoming Zcash upgrade? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News for Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.




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