Today, July 19th, the first "friendly" 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 of the Zcash blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details (ZEC) is to be held. The founder of the fork called Ycash is Howard Loo, one of the key members of the Zcash project team, – reported on the forum.
Zcash Fork – Ycash
For the first time information about the creation of Ycash appeared in early April. Ycash is an independent project, not affiliated with the Electric Coin Company or the Zcash Foundation and is positioned as the "first friendly fork" of the Zcash blockchain.
Interesting in the section: Zcash: unique and opportunity
Originally Ycash, it was planned to launch on July 18th at a block height of 570,000. It is reported that since Ycash is a chain Zcash fork, everyone who holds Zcash during the fork will receive the same amount of Ycash. (To get Ycash, you must have Zcash private keys.)
Loo said that: "The changes that Ycash will make to ZEC’s privacy coin, which currently has a market capitalization of $ 555 million, is a reduction in the interest rate from 20% to 5%, which will precisely keep the original amount of 2.1 a million coins."
Adding: "Ycash will send the remaining award in full to the newly formed non-profit organization called Ycash Foundation .... Moreover, when it starts or some time after launch ... Ycash will make the third change: Ycash will change its Proof of Work algorithm to an algorithm , more convenient for miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details on conventional equipment."
Ycash fully supports the founder of Zcash, although he will not participate in the project. At the time of writing, there are only 53 ZEC blocks left before the Ycash fork will work.
On July 19th, the launch of the friendly Zcash fork. Recall, today BTC collected $ 10,500 after a month with moderate volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details.
Editor: Pereyidenko Ihor