ZCash (ZEC), the privacy, just got an upgrade that should improve speed and reduce the size of transactions. ZEC has two kinds of addresses: t-type, for “transparent” and shielded. The shielded are totally secure – very similar to Monero – in the sense that no sender information is visible.
Last night the Zcash Sapling network upgrade activated! #Sapling introduces new #shielded addresses with significantly improved performance. Read more: https://t.co/IGoqNdlz3N pic.twitter.com/r59iyrvY4e
— Zcash Company (@zcashco) October 29, 2018
Here is an update from Sean Bowe on the ZCash site:
“Sapling represents over two years of protocol design and engineering with cryptographic breakthroughs that improve the performance and functionality of shielded (encrypted) transactions.
Currently, most Zcash transaction use transparent addresses that function in the same way as Bitcoin. This is largely due to the computational cost of proving that shielded transactions are valid. With Sapling, we move one (giant) step closer toward the ubiquity of shielded addresses.”
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With this new “Sapling” upgrade, shielded transactions are now faster and lighter. An added bonus of the upgrade is that transaction information can be accessed without exposing a private key – again, important for mobile transactions in that many users might not want to carry such important information on them at all times.
ZCash (ZEC) has now gives users the opportunity to withdraw their funds in private. Bitcoin and other big name coins do not offer this level of privacy and do not seem to be moving in that direction, maybe for fear of regulation. The admin of Zcash maintain that continued upgrades of its protocol will eventually lead to “privacy-by-default” in cryptocurrency transactions.