• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Zcash (ZEC) Overwinter Upgrade Introduces Democratic Development Path

newsbtc by newsbtc
3 years ago
in Cryptocurrency news
Reading Time: 2min read
Coinbase Zcash
Advertisement
Listen to Article

It is pertinent for all cryptocurrencies to continue evolving. In the case of ZCash, some major network upgrades have been introduced this week. Known as the Overwinter upgrade, it will bring more positive attention to this altcoin as a whole.

The Zcash Upgrade in a Nutshell

For a currency which has been around a while now, ZCash has not seen that many big upgrades. Rushing proper developments is not the right course of action, as a lot of decision-making is involved in the process. When the network hit block 47500 this week, the Overwinter protocol upgrade was officially introduced. It is comprised of a few different aspects which help shape the future of ZCash as a whole.

First of all, there is an opt-in upgrade. This opt-in option is part of the two-tiered governance model introduced for future ZCash upgrades. Network nodes are not required to adhere to the latest rules, although it is still advised to do so regardless. This approach is an interesting social experiment. Very few – if any – other cryptocurrencies offer users a choice, as they usually have to adhere to the choice of the developers at all times.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Secondly, there is an “educational” aspect to this new governance system. Anyone operating a node will receive all of the necessary information regarding the network and its future direction at all times. Ensuring users can make the right and informed decision is what the ZCash team strives to achieve moving forward. This should also reduce further issues regarding service providers not upgrading to a new set of protocol rules in the future.

Paving the Future

All of these upgrades may seem insignificant to novice users. Even so, they present a completely different ecosystem for ZCash as a whole. A two-tiered governance model for protocol upgrades seems to be the right way to go at this time. There have been growing concerns among cryptocurrency users over how they are forced in a certain direction by developers. That is never the correct approach, for rather obvious reasons.

Additionally, this new upgrade also means legacy nodes will run out of “support” in the near future. While this will not affect funds or private keys created by these nodes, it is pertinent those users upgrade to the new client as soon as possible. This is a completely new era for the ZCash cryptocurrency and its underpinning technology. Whether or not any further major changes are to be expected, remains a bit unclear at this time.

It will be interesting to see how other developers perceive these protocol changes. Considering cryptocurrency is all about empowering the end user, such a governance model may make its way to different projects over time. In the case of Bitcoin, it seems unlikely any changes will occur anytime soon. However, for some of the more prominent altcoins, this may very well be an option worth looking into.

 

Image from Shutterstock
Tags: OverwinterProtocolZCashZEC
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

7 hours ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

8 hours ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

1 day ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

1 day ago
altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

2 days ago
Ethereum

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

NOWPayments Presents: Fiat Conversion

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.