Electric Coin Company has announced the launch of its Blossom network update. The tentative date for the third update is December 11th, as reported on Twitter.
Zcash block time is 75 seconds
An update called Blossom will take place at block 653,600, which will be released on or about December 11th. During the existence of cryptocurrency, developers make changes to the network for the third time.
The main advantage of Blossom is the reduction in block formation time. Transactions on the network will receive confirmation faster than before the update. The characteristics of the virtual currency will also become better, and the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details time will be 75 seconds instead of 150, as the latest cryptocurrency news reports.
The developers noted that the reward for the block will decrease, but at the overall cryptocurrency miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details speed. The total reward for miners will not change.
Interesting in the section: What will happen when 21 million Bitcoins are mined?
- Analysts suggest that the latest Bitcoin will be obtained in 2140. However, the system will continue to work as miners receive rewards for processing transactions.