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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

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How Can Foreigners Get Loans in Singapore

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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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