Bitcoin Forum
March 01, 2021, 08:54:35 PM *
News: Latest Bitcoin Core release: 0.21.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 3 »  All
  Print  
Author Topic: Zcash: Halving Is Coming  (Read 360 times)
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 15, 2020, 09:35:35 AM
Last edit: November 15, 2020, 10:13:02 AM by deisik
Merited by Ratimov (2)
 #1

Short article about Zcash halving which is to occur in about 3 days (see here for a countdown timer). Originally published on stealthex.io
 


For those of us who have been out of the loop for the past decade or just learned about cryptocurrencies as well as mining rewards and reward halvings, a block reward halving (or simply halving) refers to the halvening of the reward that cryptocurrency miners, for example, Bitcoin miners, receive when they find something valuable, namely a new block.

With elementary school over, in this short article we are going to shed some light on the first-ever halving of a very particular crypto, Zcash (ZEC), and its major network upgrade dubbed Canopy – the two events that are going to occur at the same time. And this time is quickly approaching, so don’t waste it and read on!

Why Zcash and what makes it so special?

Zcash developers firmly believe that “the future of money is digital, decentralized and private”, and to move one step closer to this future or even invent it, as per famous quote of Alan Kay, they designed Zcash – “a privacy-protecting, digital currency built on strong science”. So let’s now dive deeper into what kind of science they refer to and how it can help protect our privacy with their implementation of a digital currency – in simple words.

Zcash started off in the fall of 2016 as a Bitcoin fork, so it shares plenty of common features with Bitcoin. For example, there can only be 21 million Zcash coins, but most importantly, it also follows Bitcoin’s halvening schedule of approximately 4 years. Yes, you read it correct, 2020 is the year when the first Zcash halving should come about, and, as it stands, we are just one week short of this event.

Similarities aside, you are certainly more interested in differences between Zcash and its progenitor. As you may have already guessed, the major difference is in the privacy department since Zcash specifically aims at facilitating more anonymous and confidential transactions than the godfather cryptocurrency. How does it do that? Meet zero-knowledge proofs that allow transactions to be confirmed without revealing the sender, receiver, or even the amount transacted.

Now you may wonder how it is ever possible to send money that way on a public blockchain, right? This is where the concept of zero-knowledge proofs shines its brightest. Through the use of this tech a transaction on the Zcash blockchain can be fully encrypted (shielded, in the Zcash speak), but still processed and confirmed as an unencrypted, or transparent, one, with the end result being the same – funds sent and received, now completely anonymously.

With that clarified, let’s now focus on what is coming in a few days, which is the next major network upgrade called Canopy and the first-ever Zcash halving.

What is Canopy and why should we care?

Since its inception in 2016, Zcash mining rewards (we hope you successfully graduated from the elementary school in the intro) were divided into two unequal portions. The best part of these rewards (80%) went to, well, miners, and the rest – the so-called Founders Reward – was routed to a number of entities that were behind creation of Zcash. That scheme was considered controversial by some, but it is going to expire in November, 2020, anyway.

The news is that November, 2020, is more or less these days, so there is a need to establish a new funding model to allow for the uninterrupted development of the cryptocurrency as well as to give the market certainty, while its price stability. As the current model of funding has no built-in replacement and will be retired soon, Canopy is an effort to establish a new model with a new fund for the next four-year development cycle.

This effort didn't come to fruition in a matter of days. It was a long road that started in early January, 2019, and took over a year to finish, with a lot of discussion meanwhile. Ultimately, the community agreed on a continuation of the current split in miners’ rewards, which is 80-20. So after the halving 80 percent of block reward will be distributed to miners, and the remainder will make up the bulk of Zcash development funding for the next four years.

To celebrate the successful achievement of consensus on a plan to continue funding of Zcash development, the upcoming upgrade was dubbed Canopy, reflecting the collaborative effort that made this upgrade possible and a friendly ecosystem open to anyone. It’s definitely a good name, especially when we consider the alternative that they certainly had in mind and might have chosen instead, which is Umbrella. You bet we care!

Apart from settling purely financial matters, this upgrade also adds a number of improvements to the underlying Zcash protocol. Most importantly, it further reduces the attack surface introduced by a vulnerability found in the original Zerocash protocol that the first implementation of Zcash, Sprout, used for shielded transactions. It was fixed by the previous upgrade, Sapling, but Canopy takes extra steps toward removing that first implementation altogether.

Lesson to take home

Zcash may not be as popular and prominent as Bitcoin or Ether, in terms of both market share and price, but it still has an active community that is willing to solve issues without being trapped in endless bickering, arguments and disputes as it happened with Bitcoin as well as many other cryptocurrencies, and hurt them so much in the past.

So whether you are a trader capitalizing on Zcash as an investment asset or a user interested in leveraging the privacy this cryptocurrency offers, Canopy is a good news as it proves that the development of Zcash hasn’t stagnated or stalled, while its community is still vibrant and willing to accommodate changes if there is a need for a change.

1614632075
Hero Member
*
Offline Offline

Posts: 1614632075

View Profile Personal Message (Offline)

Ignore
1614632075
Reply with quote  #2

1614632075
Report to moderator
1614632075
Hero Member
*
Offline Offline

Posts: 1614632075

View Profile Personal Message (Offline)

Ignore
1614632075
Reply with quote  #2

1614632075
Report to moderator
1614632075
Hero Member
*
Offline Offline

Posts: 1614632075

View Profile Personal Message (Offline)

Ignore
1614632075
Reply with quote  #2

1614632075
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Tushar Ramani
Member
**
Offline Offline

Activity: 401
Merit: 15

Crypto Ghost Since 2017


View Profile
November 15, 2020, 01:31:19 PM
 #2

It seems interesting. Any past price movement history near halving event?
Sterbens
Sr. Member
****
Offline Offline

Activity: 980
Merit: 256



View Profile
November 15, 2020, 03:44:53 PM
 #3

amazing if at the appointed time, I feel happy, because my Zcash assets returned to the same price as before the pandemic or hopefully exceed it. wasn't it before the pandemic the Zcash price was high? I am happy to have this information. for I have been holding it for too long and waiting for the right moment to come.

██████████████████
██
██
██
██
██
██
██
██
██
██
██
██████
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████████████▀▀▀  ▄▄████▄
▄███████████▀   ▄█████████▄
█████   ██▀   ▄████████████
██████      ▄█▀      ██████
████████████▀   ▄██   █████
▀█████████▀   ▄███████████▀
▀████▀▀  ▄▄▄████████████▀
▀█████████████████████▀
▀█████████████████▀
▀▀█████████▀▀
YIELD
██████████████████████████████████████████████████████████████████████████████████
.
.
██████████████████████████████████████████████████████████████████████████████████
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████████████████▀▀█████▄
▄████████████▀▀▀    ██████▄
████████▀▀▀   ▄▀   ████████
█████▄     ▄█▀     ████████
████████▄ █▀      █████████
▀████████▌▐       ████████▀
▀████████.▄██▄  ████████▀
▀█████████████▄███████▀
▀█████████████████▀
▀▀█████████▀▀
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████▀    ▀███▀▀  ▄▄████▄
▄████  ▄██▄  ▀  ▄█████████▄
█████  ▀██▀   ▄████████████
██████▄    ▄▌ ▐▀    ▀██████
████████████▀   ▄██▄  █████
▀█████████▀  ▄  ▀██▀  ████▀
▀████▀▀  ▄▄███▄    ▄████▀
▀█████████████████████▀
▀█████████████████▀
▀▀█████████▀▀
██████
██
██
██
██
██
██
██
██
██
██
██
██████████████████
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 15, 2020, 03:59:49 PM
Last edit: November 15, 2020, 05:04:18 PM by deisik
 #4

It seems interesting. Any past price movement history near halving event?

It will be the first Zcash halving ever

So we can't say anything specific about Zcash price dynamic before the halving event. Regarding other currencies, price can move either way, and it can stay essentially the same. That said, we should also keep in mind that with Zcash it is not technically correct to speak about halving because the block reward will be diminished from 12.5 ZEC to 3.125 ZEC, which is four times if I'm correct. Therefore, we should rather call that double halving, or quartering (or even watering down)

momchilandonov
Jr. Member
*
Offline Offline

Activity: 116
Merit: 1


View Profile
November 15, 2020, 04:21:15 PM
 #5

I thought about buying zcach miners but this becomes pointless after halving
CapGelatik
Full Member
***
Offline Offline

Activity: 490
Merit: 100


Making Smart Money Work


View Profile
November 15, 2020, 04:44:55 PM
 #6

Zcash has many events, but the price is still around $ 50 - $ 60, if you look at the project,
this project is still undervalued, especially with the same total supply as Bitcoin, of course 21 million,
of course Zcash is an investment that you have to make, in my opinion this is Hidden Gem is in Big Capitulation.

▬▬▬▬▬▬▬▬▬▬  ▬▬  ▬   Prasaga     Making Smart Money Work   ▬  ▬▬  ▬▬▬▬▬▬▬▬▬▬
Tech WP     /     Commercial WP     //     Twitter     /     Facebook     /     Discord     /     Telegram
▬▬▬▬▬▬▬▬▬▬▬▬▬▬  ▬▬   Powered by BOUNTY DETECTIVE   ▬▬  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬
kentrolla
Hero Member
*****
Offline Offline

Activity: 1022
Merit: 502


Predict the BTC Price & Win 1000 USDT


View Profile
November 16, 2020, 09:05:30 AM
 #7

There are hundreds of crypto projects but only few are highlighted through their hard work, zcash is one of those that have managed to prove their capability in the market and have reached a descent spot. Zcash is a good project for long-term and I believe this halving could bring us joy by tempting the price up, those who are holding now just wait for few more days as the predictions are higher like possibly we can see it till 80$.

██████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████████
███████████████████▀    ██████████████▀    ███▄   ▀███████████████████
█████████████████▀      ████████████▀      █████▄   ▀█████████████████
███████████████▀   ▄█   ██████████▀   ▄█   ███████▄   ▀███████████████
█████████████▀   ▄███   ████████▀   ▄███   █████████▄█████████████████
███████████▀   ▄█████   ██████▀   ▄█████   ████████████   ▀███████████
█████████▀   ▄███████   ████▀   ▄███████   █████████████▄   ▀█████████
███████▀   ▄█████████   ██▀   ▄█████████   ███████████████▄   ▀███████
██████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████████
████
████
████
████
████
████
████
████

████

████

████

████

████
.
......Predict the BTC Price      Win up to 1000 USDT......
████
████
████
████
████
████
████
████

████

████

████

████

████
.
...JOIN NOW...
paglarhat
Member
**
Offline Offline

Activity: 94
Merit: 10


View Profile
November 16, 2020, 09:26:47 AM
 #8

There are hundreds of crypto projects but only few are highlighted through their hard work, zcash is one of those that have managed to prove their capability in the market and have reached a descent spot. Zcash is a good project for long-term and I believe this halving could bring us joy by tempting the price up, those who are holding now just wait for few more days as the predictions are higher like possibly we can see it till 80$.
I have been associated with cryptocurrency for two years.
 Although I do not fully understand the cryptocurrency.
 I agree with you.
 That's why I said because I have some Zcash hold, I hope I get a good profit.
 Thanks.

eseayan
Newbie
*
Offline Offline

Activity: 43
Merit: 0


View Profile
November 16, 2020, 09:43:57 AM
 #9

zcash pumping is coming. Smiley
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 16, 2020, 10:52:42 AM
 #10

zcash pumping is coming

It's not written in stone at all

The coming halving has probably already been priced in, to a degree. As halvings of other coins have shown, it may take some time before the effect of the block reward reduction starts to kick in. On the other hand, as emphasized above, it is not so much halving as quartering, i.e. the adjusted Zcash reward after halving will only be one fourth of what it is now. But this doesn't guarantee pumping either (albeit we are likely to see a few bouts of volatility)

Tushar Ramani
Member
**
Offline Offline

Activity: 401
Merit: 15

Crypto Ghost Since 2017


View Profile
November 16, 2020, 11:48:20 AM
 #11

It seems interesting. Any past price movement history near halving event?

It will be the first Zcash halving ever

So we can't say anything specific about Zcash price dynamic before the halving event. Regarding other currencies, price can move either way, and it can stay essentially the same. That said, we should also keep in mind that with Zcash it is not technically correct to speak about halving because the block reward will be diminished from 12.5 ZEC to 3.125 ZEC, which is four times if I'm correct. Therefore, we should rather call that double halving, or quartering (or even watering down)

Directly reducing reward to ~4x does not seem good. Mining $Zcash won't be profitable at all and therefore miners won't provide their computational power after this halving. I hope they are also considering to move towards POS.
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 16, 2020, 12:00:42 PM
Last edit: November 16, 2020, 07:29:55 PM by deisik
 #12

It seems interesting. Any past price movement history near halving event?

It will be the first Zcash halving ever

So we can't say anything specific about Zcash price dynamic before the halving event. Regarding other currencies, price can move either way, and it can stay essentially the same. That said, we should also keep in mind that with Zcash it is not technically correct to speak about halving because the block reward will be diminished from 12.5 ZEC to 3.125 ZEC, which is four times if I'm correct. Therefore, we should rather call that double halving, or quartering (or even watering down)

Directly reducing reward to ~4x does not seem good. Mining $Zcash won't be profitable at all and therefore miners won't provide their computational power after this halving. I hope they are also considering to move towards POS

I don't know exactly what their reasons were

But it shouldn't dramatically affect mining in the long-term as the difficulty will eventually re-adjust to the available hash rate, although it creates a certain window for a 51% attack when the hash rate drops after the halving (provided it is going to drop at all in the first place). Regardless, it is unlikely they are going to move toward the POS model any time soon as it may take a few long years, while they simply lack enough resources for pulling it

TGD
Hero Member
*****
Offline Offline

Activity: 1260
Merit: 618

TGD1000


View Profile
November 16, 2020, 12:07:02 PM
 #13

I remember that one of my friend offers me to invest on his mining rig to mine this coin on early release of this project. I have a very good ROI before this token listed on big exchange that time like Polo. Zcash has a wide and active mining community before and I don't if the mining community is still the same. This halving might be the turning point for Zcash to gain momentum for it's price recovery and reach its all time high again.


I love Bitcoin Forever!  Wake me up when Bitcoin hits 1M.
Jackl87
Full Member
***
Offline Offline

Activity: 840
Merit: 185



View Profile
November 16, 2020, 12:09:11 PM
 #14

Interesting. I checked the price charts and so far it seems that the upcoming halving did not have a significant impact on the price so far.
When you look at the last halving of BTC then that also didn't have an effect on the price before it occured if i remember correctly.
The price of BTC started to climb a few months after the halving happened, maybe it will be the same with Zcash.

seoincorporation
Legendary
*
Offline Offline

Activity: 1988
Merit: 1693



View Profile
November 16, 2020, 03:26:12 PM
Last edit: November 16, 2020, 04:16:50 PM by seoincorporation
 #15

Zcash halving incoming might not result to any break in price in terms of pumping. Zcash as one of the old coins around might have stayed for too long. So many new projects coming up with newer technologies to compete with Zcash.

I feel like the halving will come with a prize crash because a lot of miners will have to move to another coin to still make a nice profit. And some of them will sell their coins, so, if a whale like that does his move then say bye to the $64. Halving always bring chaos and some hard moves on the markets.
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 16, 2020, 03:33:42 PM
Last edit: November 16, 2020, 06:21:25 PM by deisik
 #16

if you hold I'm sure the ZEC price might be up to $ 5000

That's unlikely if you ask me

Zcash is a niche coin, and since it is privacy-oriented (even though you can use transparent transactions instead of shielded ones with it), it is not very reasonable to expect it to be a huge success (synonymous with $5000). First of all, if it gets traction, governments are going to crack down on it. But most importantly, the vast majority of people don't really need this level of privacy for the simple reason any cryptocurrency is primarily used for speculation, not for facilitation of the exchange of goods and services

Wenbing
Member
**
Offline Offline

Activity: 308
Merit: 30

There is gold in volatility..


View Profile
November 16, 2020, 04:34:53 PM
 #17

It seems interesting. Any past price movement history near halving event?

There is something i am not very clear about regarding halving.

Do all coin have halving event?

If they do, does the halving work the same way the bitcoin and ethereum halving works? To me , i believ all coins don't have same mechanism and business models.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Fesatmas
Sr. Member
****
Offline Offline

Activity: 1400
Merit: 255



View Profile
November 16, 2020, 05:01:57 PM
 #18

it is time for Zcash to do the halving. because if not, then how long zcash will stand at the price of $ 50. I hope Zcash shows its strength as a crypto for a long time. how not, while other cryptos have already halved. even though they are younger than Zcash.
in case the Zcash halving exceeds $ 100. maybe my assets are enough to buy a new house. Smiley Smiley

██████████████████
██
██
██
██
██
██
██
██
██
██
██
██████
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████████████▀▀▀  ▄▄████▄
▄███████████▀   ▄█████████▄
█████   ██▀   ▄████████████
██████      ▄█▀      ██████
████████████▀   ▄██   █████
▀█████████▀   ▄███████████▀
▀████▀▀  ▄▄▄████████████▀
▀█████████████████████▀
▀█████████████████▀
▀▀█████████▀▀
YIELD
██████████████████████████████████████████████████████████████████████████████████
.
.
██████████████████████████████████████████████████████████████████████████████████
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████████████████▀▀█████▄
▄████████████▀▀▀    ██████▄
████████▀▀▀   ▄▀   ████████
█████▄     ▄█▀     ████████
████████▄ █▀      █████████
▀████████▌▐       ████████▀
▀████████.▄██▄  ████████▀
▀█████████████▄███████▀
▀█████████████████▀
▀▀█████████▀▀
▄▄█████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄████▀    ▀███▀▀  ▄▄████▄
▄████  ▄██▄  ▀  ▄█████████▄
█████  ▀██▀   ▄████████████
██████▄    ▄▌ ▐▀    ▀██████
████████████▀   ▄██▄  █████
▀█████████▀  ▄  ▀██▀  ████▀
▀████▀▀  ▄▄███▄    ▄████▀
▀█████████████████████▀
▀█████████████████▀
▀▀█████████▀▀
██████
██
██
██
██
██
██
██
██
██
██
██
██████████████████
deisik
Legendary
*
Online Online

Activity: 2576
Merit: 1240


English ⬄ Russian Translation Services


View Profile WWW
November 16, 2020, 05:12:57 PM
 #19

If they do, does the halving work the same way the bitcoin and ethereum halving works? To me , i believ all coins don't have same mechanism and business models

Zcash actually picks up where Bitcoin leaves (in terms of privacy)

So it uses, or used, Bitcoin's codebase, with some privacy tricks and tweaks here and there. Therefore, it stands to reason that its halving is pretty much similar to the halving of Bitcoin, which we have seen a few already. The only notable difference in this regard is that it is not technically "halving" as the block reward is not halved but rather quartered. Right now it equals 12.5 units of Zcash, and after halving it will be measly 3.125 coins. Some miners may start looking for a better application of their hash power

ScamViruS
Sr. Member
****
Offline Offline

Activity: 588
Merit: 376

Bad times are temporary, never give up. :)


View Profile WWW
November 16, 2020, 05:52:53 PM
 #20

to be honest I'm not sure Zcash halving will make Zcash price go up or pump,
this is because the high bitcoin domination situation makes it hard for altcoins to go up,
are you sure Zcash will pump?, look at Ethereum, BCH and Ripple, they have good news but prices tend to fall and sideways.

You are right Bitcoin is now dominating the market so the rest of the altcoins are not getting a chance to turn around. Now relying on good news alone may not be the right decision to buy a coin. When the dominance of Bitcoin continues to decline, these coins are likely to change the trend again. I will wait a few more days to buy this coin. Because I want to invest my money with some certainty.
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!