$ZEC Zcash is a groundbreaking cryptocurrency that brings powerful privacy and selective transparency to the blockchain through zk-SNARKs on a technical level, while firmly pursuing "fungibility" as a fundamental property of digital cash on a conceptual level. From the Zerocoin protocol to Zerocash, and the continuous upgrades integrating Sapling and Halo 2, Zcash demonstrates the rapid evolution of privacy technology in the face of real-world challenges (performance, usability, compliance).
Additional key information and current developments:
1. Governance and funding sources: Zcash has a unique "founders reward" mechanism, where a portion of the early block rewards is allocated to the development team, foundation, etc., to ensure the ongoing development of the protocol. This model has also sparked discussions within the community.
2. Regulation and compliance: Zcash is selectively transparent. Users can choose to disclose transaction information (through the payment disclosure feature), which provides the possibility for it to comply with anti-money laundering regulations, making it an important compliance feature among privacy coins.
3. Major upcoming upgrades - Heartwood and NU5:
· Heartwood: Implemented FlyClient and miner-extractable value shielding, improving the efficiency of cross-chain interoperability and protecting miners from MEV attacks.
· NU5: Introduced the Halo 2 proof system. This is a milestone upgrade as it removes the original trusted setup. zk-SNARKs initially required a "trusted setup ceremony," and if compromised, would affect privacy. Halo 2 uses a trustless recursive proof system, greatly enhancing the security and sustainability of the protocol.
4. Relationship with Bitcoin: Zcash shares many core codes with Bitcoin (such as a total supply of 21 million, halving cycles, etc.), but it is more like an experimentally branched parallel evolution, focusing on addressing Bitcoin's shortcomings in privacy and fungibility.
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