On April 12th, Zooko Wilcox, CEO of Electric Coin Company (Zcash), announced that he was going to increase the scalability of Zcash cryptocurrency this year. In addition, he spoke about the possibility of other updates for a cryptocurrency asset.
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Zcash – increase the scalability
At the RadicalxChange conference in Detroit, Zooko Wilcox announced that he was going to increase the scalability of cryptocurrency to the first level. At the same time, he also mentioned that Zcash cryptocurrency has been developing for more than five years, and that it may take another five until it can achieve a reliable level of "prosperity" on its own.
The CEO of Electric Coin Company (ECC) said that he intends to consider issues of cryptocurrency scalability soon. He also acknowledged that the Zcash coin had not accepted significant protocol changes for a long time but remained simply a forkFork
– is the intentional use of one code base of a software project to start another. That is, changing the blockchain code to split it into two.Details with a high level of confidentiality.
For more than two years of its history, Zcash has not added new features or updated operating principles. The new process of working with a coin, according to Zuko’s comments, will be called ZIP.
"For two years, or even a little more, we did not add significant changes, except for updating confidentiality principles (...) Increasing scalability can be the best change for this period (...) I think we need high scalability on first level so that we can achieve the goal of empowering everyone", – Zooko Wilcox.
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Already this year, changes may occur in Zcash: cryptocurrency will increase scalability. Recall that in February of this year, Zcash announced a planned rebranding, after which the company became known as the Electric Coin Company.
Editor: Yuliya Soroka