Zcash Latest Update: The Arrival of Zcash Version 1.1.1

Zcash has stated the most significate of its announcements that have been made in the last couple of weeks – this was mentioned in their weekly update. Starting on the 21st of May this year, Zcash announced the investment in Agoric, for offering standards-based, open object-capability programming layer in line with the standards of JavaScript [ECMAScript].

The Impact of this Development

This allows the estimated 20 million JavaScript developers in the world to create highly decentralized, secure, and robust apps (decentralized apps – Dapps) against the number of blockchains. The CEO of Zcash – Zooko Wilcox said: “the founding members are forerunners of some of the basic science of distributed systems and secure programming.”

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He also said that some of them are his mentors and personal friends who have been among the largest influences on his scientific career. He made this announcement after the investment done in StarkWave Industries on the 10th of May 2018.

What Zcash Transactions Rely On

The Agoric announcement was accompanied by the sapling Multi-party computation protocol (MPC). The transactions of Zcash depend on “zk-SNARKs” which is a zero-knowledge, fast to verify, small proofs of random statements. On the other hand, zk-SNARKs depends on a set of public parameters which can be used to build and verify proofs for certain circuits and computations.

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The Arrival of Zcash Version 1.1.1

On the 30th of May, the arrival of Zcash 1.1.1 was announced. This version is the Zcash node software Overwinter-compatible version. The first of the release is expected to be mined on June 25. The significant changes include “Zcash-CLI” Argument privacy, and this will be used for sensitive data such as private keys.

The new update also comes with a new feature known as “Transaction Enquiry” which was announced on the 31st of May. This feature makes it possible for every transaction in the mempool to expire automatically after a specified amount of blocks, this effectively times out transactions which are unlikely to be confirmed or mined.

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