Altcoins News
By Maheen Hernandez
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Multisig to Shielded Zcash (ZEC)
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Zcash has successfully hard forked. Coinbase reportedly is excited about the hard fork which occurred in July 16, 2020.
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Zcash miners will now be able to claim their mining rewards for processing transactions through Coinbase transactions.
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Heartwood, the hard fork is supported by both the ECC and Zcash Foundation. The upgrade consists of 2 improvements which were part of the Zcash Improvement Proposals (ZIP).
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The Shielded Coinbase is ZIP 213. The Flyclient is ZIP 221. The Shielded Coinbase facilitates the much needed privacy solutions for Zcash ZEC mining.
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Being a hardfork, the updates are backward incompatible and therefore all the nodes should synchronize with the new software if they need to use the Zcash blockchain.
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Josh Cincinnati, Zcash Foundation Executive Director, expressed, “The Zcash Foundation is excited to support the Heartwood Zcash upgrade alongside the ECC, and thrilled that…
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The good thing is that Shielded addresses will mystify information like amount, addresses and the encrypted memo field.
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Sydney Ifergan, the crypto expert tweeted: “ZCash (ZEC) miners will now need the full node to get complete privacy. Full privacy for every wallet is a good thing.
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Zcash Foundation recently tweeted: “Bringing multisig to shielded Zcash: Foundation researcher @chelseakomlo published a new version of FROST!”
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The Multi Signature Wallet uses multiple signatures rather than using multiple keys to authorize the transactions.
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A common example used to help understand the multi-signature accounts is where a husband and wife have a petty cash joint account and if one of them is not available for…
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