Zcash Foundation Says Focusing on Privacy Enhancement

Zcash Foundation Says Focusing on Privacy Enhancement

In its report for the first quarter of 2020, Zcash Foundation has revealed several updates on its developments, including the cross-chain integration Zebra.

The privacy-focused distributed ledger technology (DLT) project has admitted the unanticipated negative impact of the coronavirus on all sectors across the world.

Thus, the foundation’s staff has worked remotely to avoid the severe effect of Covid-19. Actually, the pandemic gave the foundation an opportunity to enhance its blockchain network through partnering with TCN to develop a privacy-preserving contact tracing app.

NU3 hard activation in mid-July

According to the report, the foundation stated that it is still working on Zebra, which is its consensus-compatible node client. Zcash added that it is targeting mid-July for the long-awaited NU3 hard activation, attributing the delay to the pandemic.

In addition, the foundation highlighted its ongoing relationship with ZecWallet as well as the “light wallet version” that allows new Zcash users to safeguard their ZEC tokens immediately.

Zcash also provided an update on its development of a Zcash-Cosmos pegzone. After discussing the cross-chain integration idea, the two parties aim to publish a concrete roadmap for the second quarter of 2020.

Focus on improving privacy

Providing an update on the Ledger support, the foundation stated that its ecosystem had offered a grant to support ZEC on the hardware crypto wallet.

Moreover, the foundation stated that it is currently evaluating significant privacy options to be deployed in the short-term. It is also assessing the viability of mix networks as a network privacy option on the short-term.

Zcash’s new budget reflects $2.68 million in spending, compared to $3.24 million earlier. The foundation holds nearly 101k ZEC, 42 Bitcoin, and $4 million in cash, the report concluded.

Earlier, Cryptolydian reported that ZCash is a revolutionary crypto product that can reshape the world. Its reward distribution has faced some serious scrutiny because there has only been a small sample.

However, the current market crisis is a reason to rekindle interest in ZCash and Monero as well.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.