• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
Coinbase Zcash

Zcash (ZEC) Overwinter Upgrade Introduces Democratic Development Path

newsbtc by newsbtc
5 years ago
in Cryptocurrency Market News
Reading Time: 2 mins read

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.

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
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Ethereum Security Jack Dorsey

Former Twitter CEO Claims Ethereum Is A Security, Will This Affect Prices?

3 hours ago
crypto hack

Atomic Wallet Hack: Stolen Crypto Moved Through Mixing Service Linked To North Korean Hackers

4 hours ago
Cardano ADA

Cardano Founder Unveils SEC Motivation For Suing Binance

7 hours ago
“Not just an ordinary crypto exchange”: MaskEx’s Ben Caselin Reveals Ambitions Of UAE’s Hottest New Exchange Platform

“Not just an ordinary crypto exchange”: MaskEx’s Ben Caselin Reveals Ambitions Of UAE’s Hottest New Exchange Platform

8 hours ago
HedgeUp (HDUP) Anticipates 50X at Launch in June, Shiba Inu (SHIB) and Dogecoin (DOGE) Investors Fill Their wallets

HedgeUp (HDUP) Anticipates 50X at Launch in June, Shiba Inu (SHIB) and Dogecoin (DOGE) Investors Fill Their wallets

8 hours ago
Polygon (MATIC) Drops 4%, HedgeUp (HDUP) Rallies 300% in Stage 4 Presale, Whilst gaining 400+ Holders daily

Polygon (MATIC) Drops 4%, HedgeUp (HDUP) Rallies 300% in Stage 4 Presale, Whilst gaining 400+ Holders daily

8 hours ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    6 days ago
  • Willing to buy new crypto: Here are the best 10...

    6 days ago
  • Best Crypto Meme Coin Presales in 2023

    6 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Can Mooky.io Outpace Dogelon Mars (ELON) and Big Eye Coin...

    8 hours ago
  • Is Mooky the Next Breakout Star after the Impressive Gains...

    8 hours ago
  • Didn’t Make Millions With Pepe (PEPE)? DigiToads...

    11 hours ago
  • Experts are hailing InQubeta (QUBE) and Arbitrum (ARB) as...

    12 hours ago
  • Experts update ETH price prediction

    12 hours ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.