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Zcash Is Awaiting A Major Update

The Electric Coin Company (ECC) has revealed details of the next series of updates for its Zcash cryptocurrency.

The Halo Arc update brings changes to the Zcashd consensus nodes, the ECC wallet prototype, and the wallet SDK. The new wallet will send anonymous transactions by default. Now users have to perform additional steps for this.

Halo Arc was originally planned for the summer, but the launch date was subsequently pushed back to October 1 to coincide with the activation of the NU5 update. Among other things, Zcash will receive support for unified addresses that will be compatible with all cryptocurrency pools: anonymous and not.

On a technical level, Halo Arc uses a “trustless recursive” version of zero knowledge proofs that will dramatically increase scalability and eliminate the need for an ambiguous “trusted install” procedure. In the current environment, Zcash uses a secret number generated by multiple contributors with each hard fork. Once the process is complete, these participants are expected to dispose of “cryptographic toxic waste.” If they do not do this by colluding, or if someone finds out the secret number, it will be possible to randomly release ZEC, and other users will not even know about it.

 

“Halo, with built-in enhancements, ushers in a new era of zero knowledge cryptography. By removing the trusted install required for the current zero knowledge proof system, confidence in the money supply will increase, ECC said. – In Halo Arc, we’re making it easier to support Zcash shaded transactions. Users of supported wallets will be able to provide the other party with a single address and will know that funds are being sent to the shadowed address, regardless of whether the sender supports it or not. ”

 

With the launch of the update, users will also be offered the ability to automatically migrate assets to the latest wallet-supported shaded pools, which will help to move away from older version pools faster.

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