Key Highlights:
- Zcash has started testing its NU7 upgrade on the public testnet.
- This upgrade aims to cut block time from 75 seconds down to 25 seconds. This means people would not have to wait as long for their transactions to be confirmed.
- With NU7, 60% of transaction fees will go into a reserve for future mining rewards. At the same time, the reward for each block will be reduced to keep $ZEC’s coin release on track.
- Zcash will also turn off the older Sprout privacy system, so anyone using that will need to move their money before NU7 goes live on the mainnet.
Zcash has moved its new big upgrade, NU7, into public testing as developers get prepared for a possible mainnet launch in November. Right now, they are running this upgrade on the testnet to see how it holds up before deciding whether to activate it on Zcash’s main network. By launching the public testnet, developers, infrastructure operators, and others can check out how the changes work before they actually touch real $ZEC transactions. The mainnet rollout is set for November 5, but it depends on what they find during testing and a final call scheduled for October 20.
Faster Blocks are at the Centre of NU7
The biggest change in NU7 is the plan to cut Zcash’s block interval from 75 seconds to 25 seconds. Since blocks contain groups of transactions, making them more often should cut down the time people wait for their transactions to go through. This faster timing helps exchanges, wallets, and merchants. Basically, payments or deposits show up sooner, so users and businesses can process transactions more easily.
cryptonewsz.com