Second largest privacy coin, Zcash’s latest “Friendly Fork,” is called Ycash. The fork that is going to happen on 18th July 2019. It is an effort to maintain a couple of prominent early tenants of the project.
Ycash will have different proof of work algorithm to make mining on standard hardware productive. It includes the ability of mining on retail hardware. As per the declaration made, the fork will happen at the block height 570000 of the present Zcash Blockchain. Crypto investors holding Zcash will receive the same amount of Ycash.
Ycash team said,
“We are launching Ycash to restore a goal —- mining on commodity hardware”. Ycash team upholds a promise of Zcash Founders Reward. Its reward would be capped at 2.1 million coins forever. Since it will come under pressure between now and October 2020 (Founders Reward will be over).
Ycash will lessen the founders’ Reward rate of 20 % to a perpetual 5%. It is precisely what they are going to preserve an original 2.1 million coin cap on the Founders Reward.
According to the announcement, it will coordinate the rest of the Founders Reward completely to a recently formed nonprofit foundation named the Ycash Foundation.
Ycash is working to change its Proof of Work algorithm, they are trying to make mining happen on Commodity hardware such as CPUs or GPUs. Some approaches like RandomX, progPOWER, and variations of Equihash are currently being evaluated.
Ycash is planning to leverage the strengths of Zcash continually. Also, they will incorporate most changes made to Zcash into Ycash as well. Primarily they are going to change zero knowledge infrastructures. So, Ycash will diverge only where there is disagreement with the Zcash’s approach.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Circle of Games (COG)—Web3's multi-gaming platform has raised a $1mn round from Nazara, with participation…
Unconference Bali 2024, Asia’s premier Web3 event, is poised to take center stage against the…
Tradeleaf, a leading FinTech company empowering global trade through digital solutions, recently celebrated a significant…
Foundership Global Accelerator, a prominent force in the Web3 & Emerging-Tech Community boasting over 10,000…
April 16, 2024 - Condo, the world's first real-world asset (RWA) meme token, was recently…
The Partisia Blockchain Foundation, at the forefront of crafting privacy-enhancing and interoperable blockchain platforms, today…