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Recent Developments of Zcash (ZEC): Sapling Network Upgrade

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Zcash
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Zcash (ZEC), according to coinmarketcap.com is currently listed among the top 25 cryptocurrencies based on the market cap value. Zcash continues to progress with the aim of providing users a more secure and private platform than Bitcoin and other cryptocurrencies for transactions.

Yesterday, the blog section of Zcash revealed that the development team is awaiting the release of new software. This software contains elements that will support the Sapling upgrade.

Zcash 1.1.1 is an Overwinter compatible version of the Zcash node software. It stands as the initial support for the consensus rules of Sapling. The Sapling testnet activation height, as per the official blog is set to block 252500.

The blog continues to reveal that block 347500, the first block of Overwinter is most likely to be mined on 25th June 2018. There is a recommendation for the users to upgrade to this release or from v1.1.0 onwards such as to keep a tab on the Overwinter network upgrade.

Upgrade of Sapling Network

The development team has completed preparing consensus code for the Sapling network upgrade and ZIP 243 and Sapling spec have been included in the new software release. Currently, the team is focusing on developing sapling support in RPC and the wallet.

The final Sapling parameters are now keeping the attention of Sapling MPC. Meanwhile, it is expected that Sapling will become active on testnet with “dummy Sapling parameters at height 252500.” At the moment, this activation will not be made permanent and the testnet will be reverted to the 2.0.0 version. This way the testnet, as well as the mainnet, will utilize the same parameters. The 2.0.0 version will be released after the Overwinter upgrade. The users will now have to use the 1.1.0 version of the software to test Overwinter.

The blog states, “Sapling can also be activated at a specific height in regtest mode by setting the config options -nuparams=5ba81b19:HEIGHT -nuparams=76b809bb:HEIGHT. These config options will change when the testnet is rolled back for 2.0.0 (because the branch ID for Sapling will change, due to us following the safe upgrade conventions we introduced in Overwinter).”

The team has not yet specified the Sapling activation height for mainnet so, the 1.1.1 version will act just like other pre-Sapling releases. It will continue to do so even in case of future activation of Sapling on the network. In the future, more upgrades will be required on the mainnet so as to follow the Sapling network upgrade.

On activation of Sapling, the transactions will be conducted by using the new v4 format. The RPC methods that create new transactions will start creating v4 transactions after the Sapling activation height is achieved.

  • Zcash delisted from Korbit and Coincheck

Recently, Korbit, the South Korea cryptocurrency exchange had announced that it will delist Zcash (ZEC) and four other privacy focusing coins from its platform. It will be a gradual process such that the users will have the opportunity to withdraw or sell off their ZEC coins. Korbit has already advised the account holders to sell off or withdraw their assets for protection. Zcash faced another setback when Coincheck also announced that it would delist Zcash as well as four other assets due to their “Risk” factor. The exchange platform’s decision can also be taken as a strategy to get a step closer to get their FSA license, to be in the good graces of Japan’s FSA.

Korbit has given all the Zcash holders time till 18th June to either leave out or sell off ZEC on the platform. The good news is that Korbit has already dropped a hint that it might again put Zcash and other delisted assets on the list. Simply speaking, people will again be able to trade ZEC through Korbit. However, Korbit has not yet given a specific date for resumption of trade.

Price Analysis

The delisting of Zcash (ZEC) from the largest Bitcoin exchange platform of South Korea had led to a major decline in the daily trade volumes of ZEC. The thing is that Zcash has enough good features and support to bounce back after the price dip within such a short period of time. Zcash is following a path of recovery irrespective of the usual fluctuations in the cryptocurrency market. At the time of writing, according to coinmarketcap.com, the price of ZEC shows $243.15 USD approximately. The market cap is nearly $981,143,159 USD while the volume (24h) is over $53,002,000 USD. (As of 31st May 2018) The news of Sapling Network upgrade will also hopefully strengthen the green line.

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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 and read our full disclaimer.

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Bitcoin

Importance of Bitcoin ETFs and Bakkt for the Crypto Space

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Bakkt
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It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.

What are Bakkt and Bitcoin ETFs and why are they important?

Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.

In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to USD that can then be used in Starbucks.

Bakkt exchange…

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4 Best-Performing Cryptocurrencies in the Current Bear Market

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cryptocurrencies
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Cryptocurrencies have been experiencing a strong return of the bearish trend for weeks now, and only now does it show signs of weakening. However, experts believe that the situation will not repair itself so easily and that prices will remain low for a certain period.

However, when bear market strikes, the sentiment gets most bearish when the trend reaches the bottom. Everyone starts selling, and while short sellers can make a profit in this situation, analysts usually warn that the sale will only knock the prices down even further. Since most of the crypto-related news is already negative at this point, such predictions often make sense.

However, there is still one thing to keep in mind, which is the fact that when downtrend enters a capitulation, that often signals that a new bottom has been found. That is the perfect time to actually go against the bearish trend, and start buying. It is also a good opportunity to abandon the coins that seem too risky, and do not seem to have that bright of a future ahead of them.

Bitcoin has dropped by 87% from its all-time high, which it hit back in January. However, the rest of the market dropped with it, and it never lost its dominance, which still remains above 50% of the total market cap. In other words, while its price may have sunk to lows that were not seen for a while now, it…

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Blogs

Will The Stock Market’s Bearish Outlook Affect The Cryptocurrency Market?

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cryptocurrency market
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About 3 months ago I was reviewing what was happening in other markets as the cryptocurrency market kept falling. So I opened up TradingView and what I saw was something so incredible I had to look a second time, I thought I had opened up the BTC/USD chart but it had not yet fallen. I was a bit confused, but I realized my TradingView opened to the DOW, at the time it was looking extremely euphoric and then upon a little more research I saw it was in the longest bull since its conception.  I instantly wanted to see does this just apply to the Dow Jones or does it also apply to the likes of the Russel, S&P500, Nasdaq, Vanguard and then I even looked at the housing market. What I saw I am honestly going to say baffled me, what was there before me was a perfect opportunity, I knew that soon the stock market would fall and started letting people know about hedging.

Last year for many was a huge learning experience and even if many lost money, they learned about financial markets for the first time and may have bought their first ever investments. This was a huge plus for many people who were labeled noobs or noob investors. Why you may ask? Well, the simple answer is that noobs tried investing for the…

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