If you have ever wanted Zcash, and are knowledgeable about the process of the Block Halving, now may be a good opportunity to add it to your portfolio. The Halvening as it's also known, has a history with USD evaluations of other currencies like Bitcoin or DASH. The reward will be decreased from 12.5 to 6.25 decreasing the new supply of Zcash by 50%. This will typically increase the price evaluation, but this is not financial advice, just a update about the flood of news you may be seeing next week about this.
What is Zcash?
Zcash is a peer-to-peer cryptocurrency and was created as a fork of Bitcoin and quite like bitcoin it also has a hard limit of 21 million coins. Zcash started as a fork of the bitcoin blockchain on October 28, 2016. Earlier it was called the Zerocoin protocol before it was transformed into the Zerocash system and then finally, Zcash. But Unlike bitcoin, Zcash aims to provide and enhance privacy for users through some ingenious cryptography called zk-SNARKs. It is being developed by Electric Coin Company founded by Zooko Wilcox.
What is the Zcash Halving?
Zcash Halving is the event where the number of Zcash Block Reward Subsidy per block will be halved (divided by 2). The total number of ZEC mined by miners per block will reduce from 6.25 ZEC to 3.125 ZEC in the next halving at block 1,046,400. Other than the decrease in Block Reward Subsidy, the next Zcash halving will also see the sunsetting on the Zcash Founder's Reward.
What is the Expected Date of the Zcash Halving?
Zcash halving is block interval specific, this means that the halving will occur once the blockchain reached a certain block interval. As per the Zcash Blossom Upgrade, the halving block interval has been delayed to block 1,046,400. Based on current estimates of 75 seconds per block, the halving should occur during November 2020.
Why are Zcash halvings significant?
Halvings are at the core of the cryptocurrency economic models because they ensure coins will be issued at a steady pace, following a predictable decaying rate. Such a controlled rate of monetary inflation is one of the main differences between cryptocurrencies and traditional fiat currencies, which essentially have an infinite supply.
Live Countdown sponsored by Binance https://zcashblockhalf.com/
Welcome to the Zcash Hive Community
The following Hive users are now official community members, say hello in the comments! Unless you are encrypted and private, we respect your virtues of self here in the Zcash community, you have the Human Right to Privacy.
@encrypt3dbr0k3r, @powellwoods, @nanaarl, @darkflame
Welcome to the community! Lets curate innovative idea's and use-cases for privacy oriented finance.
Crypto Deep Dives?
You may enjoy our partner community CyberCoin CipherClub created/hive-121094 if you commonly do deep dives on cryptocurrency. Its not for promotions, marketing or technical analysis so much as a book club for curating good research of a diverse knowledge base of all cybercoin culture. There is many social aspects to the economic models of cryptocurrency, deep dives about this social structure would also be appropriate. The moderation will approach spam and speculation much like a Library situation or a book club to encourage a flow of knowledge. I am looking for admins in both Zcash and the CCCC communities.
Footnote about phishing and hotlinks.
I am sorry about the messy links, there is phishing going on targeting Hive users, even my Spotify account was targeted, I have removed all hot links and shown raw link data for transparency so users don't sweat about what they are clicking on until this phishing camping is resolved. There is great support from @keys-defender if you need help with an issue about phishing on the Hive blockchain.
Stay vigilante my fellow Zcashers!