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Overwinter: Zcash (ZEC) First “Software-Updates-Required” Network Upgrade

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Zcash announced that it will launch its first “Software-Updates-Requires” network upgrade Overwinter in June 2018 through its blog post on 2nd March 2018. Zcash is popular in the cryptocurrency world due to its security features and secretive nature. Zcash is the way to keep the identity of the trader a secret.  In fact, the transactions are invisible on the blockchain ledger. Actually, cryptocurrency traders look forward to doing anonymous cryptocurrency trading on the internet. Although Zcash was not set up as an open-source element, its unique proof of work z-SNARK has attracted many traders. The users of the altcoin Zcash (ZEC) can conduct anonymous transactions through a “zero-knowledge” cryptography method that is also known as zk-SNARKs.

Sapling Upgrade will follow the Overwinter Upgrade

It is believed that the Overwinter upgrade will open up the path to future upgrades of the core Zcash protocol. Zcash is planning to launch the “software-updates-required” update on the 1.1.0 version zcashd by April 2018. The launch date of the Overwinter main chain upgrade has been set for 25th June 2018. Following the Overwinter upgrade in June 2018, there will be another major update called Zcash Sapling network in September 2018. The Sapling cryptography, according to the Zcash’s Roadmap Report will enhance performance, security, and usability of the shielded transactions on the network. Shielded transactions ensure that the sender and recipient’s address and identity are hidden. Moreover, other than the interested parties no one can know the amount transferred through the Zcash blockchain.

Zcash’s blog post stated, “The purpose of Overwinter is to strengthen the protocol for future network upgrades, paving the way for the Zcash Sapling network later this year,”

The developing team of Zcash has revealed that the Overwinter software will introduce the following features to improve the network.

  • Transaction expiry
  • Version control
  • Replay transaction protection for network upgrades
  • Advancement for transparent transactions

The users do not have to do anything regarding the network upgrade other than keeping their software updated.

The Zcash developers’ team explain, “There is no need to do anything else besides keep your Zcash software up to date. This network update is not expected to result in a fork of the blockchain or the creation of a new currency,”

Overwinter is not a Hard Fork

Many cryptocurrency market analysts had speculated that the Overwinter upgrade is going to be a hard fork of Zcash. However, the developers have clearly stated that it will simply remain as an upgrade. Neither is Overwinter going to introduce a new currency. In fact, the developers of Zcash have also revealed that the launch date of the Overwinter software has been delayed a number of times to ensure that everything worked smoothly at the first launch. It is said that the reason for the delay is the bugs found during the testing and reviewing of the software.

The new upgrades (Overwinter and Sapling) to be launched on the Zcash platform in this year make the cryptocurrency market speculators say that the price of the crypto coin is most likely going to increase in 2018. Previously, at the beginning of 2018, the Matthew Beck, an associate at Grayscale, had used some financial modeling to predict that one Zcash token in 2025 can be worth more than $60,000. As of 8th March 2018, the market price of Zcash is approximately $286 USD.

We will be updating our subscribers as soon as we know more. For the latest on ZEC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Marco Verch via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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