A Zcash fork is now imminent. Tomorrow, the 26th June 2018 will see the implementation of the Zcash Overwinter hard fork, upon the completion of the mining of block 347500 which is expected to take place at 02:06 UTC+1:00 tomorrow (though the time may change slightly based on the network).
This will mark the start of a new era for Zcash, a cryptocurrency that has benefitted from quite a positive few months. Though its value is slightly less than many would hope, even so, at the time of writing, Zcash is valued at $165.87, up 4.27%. This current climb is no doubt down to market correction after the dip experienced over the weekend therefore we don’t expect this climb to last forever, however, we should consider that as overwinter approaches, should it all go to plan, the value of Zcash could mature quite nicely over the coming weeks.
What is Overwinter?
According to the Zcash website:
“Overwinter is the first network upgrade for Zcash. Its purpose is strengthening the protocol for future network upgrades. It includes versioning, replay protection for network upgrades, performance improvements for transparent transactions, a new feature of transaction expiry, and more.”
Users of Zcash won’t need to take any specific further action in order to see this upgrade through, unless in the instance they are using a personal full node, and have in turn manually adapted the node to continue running the old Zcash software. According to Zcash:
“Keep your Zcash software updated, and you’ll be on the newly-upgraded main chain along with everyone else. You will not miss the network upgrade, unless you are running your own full node and have manually configured your client to continue running the old code.”
You can see more information about the Overwinter hard fork, here-
As a result of this upgrade of course, many exchanges and wallets will be suspending Zcash transactions until the network is stable (assuming the fork goes to plan). Therefore, if you intend to make any Zcash transactions over the next few days you should probably do them now, before the upgrade is rolled out, otherwise you may have to wait a day or two before normal service is resumed.
We are confident that all will go to plan and that overwinter will start a new, more secure future for Zcash. Within this, the network promises to speed up and remain up to date with the changing face of cryptocurrency. In this, Zcash will remain privacy focused and of course, at the cutting edge of blockchain technology.