{"id":31970,"date":"2020-11-18T15:38:57","date_gmt":"2020-11-18T13:38:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31970"},"modified":"2025-08-28T06:22:27","modified_gmt":"2025-08-28T03:22:27","slug":"zcash-network-records-its-first-halving-as-canopy-upgrade-activates","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/zcash-network-records-its-first-halving-as-canopy-upgrade-activates\/","title":{"rendered":"Zcash network records its first halving as Canopy upgrade activates"},"content":{"rendered":"<p>On Wednesday, 18 November, the privacy-focused cryptocurrency Zcash network saw its first halving in its history. Concurrently with it at block #1046400, the Canopy upgrade was activated.<!--more--><\/p>\n<p>As a result the mining reward for blocks found fell from 6.25 ZEC to 3.125 ZEC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Activated at block 1046400!<br \/>\nCanopy is the fifth major network upgrade for <a href=\"https:\/\/twitter.com\/hashtag\/Zcash?src=hash&#038;ref_src=twsrc%5Etfw\">#Zcash<\/a>, and coincides with the first Zcash halvening. <a href=\"https:\/\/t.co\/ni04QPybhj\">pic.twitter.com\/ni04QPybhj<\/a><\/p>\n<p>\u2014 Electric Coin Company (@ElectricCoinCo) <a href=\"https:\/\/twitter.com\/ElectricCoinCo\/status\/1329041163400175617?ref_src=twsrc%5Etfw\">November 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of publication, Zcash ranks 38th by market capitalization, about $672 million. The all-in price of ZEC is around $64. Over the last year, the coin&#8217;s price has risen by 78.7%.<\/p>\n<p>The Canopy upgrade, developed by the Electric Coin Company (ECC) and the Zcash Foundation, was agreed in July. It includes five proposals to improve the Zcash blockchain (ZIPs).<\/p>\n<p>One of the main innovations is the creation of a network development fund. As part of the update, a mechanism to support funding streams drawn from part of the block reward was activated, as well as changes to the consensus rules regarding the proposed structure of the development fund.<\/p>\n<p>The new rules will apply for the next four years. The miners&#8217; share of the reward funds will be 80%. Of the remaining 20%, 8% will go to the Grants Fund, 7% will be reserved for ECC, 5% to the Zcash Foundation.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"KfNrTwTdlI\">\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/messari-canopy-upgrade-matters-more-for-zcash-than-the-forthcoming-halving\">Messari: for Zcash, what matters more is not the upcoming halving, but the Canopy upgrade<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u00abMessari: \u0434\u043b\u044f Zcash \u0432\u0430\u0436\u043d\u0435\u0435 \u043d\u0435 \u043f\u0440\u0435\u0434\u0441\u0442\u043e\u044f\u0449\u0438\u0439 \u0445\u0430\u043b\u0432\u0438\u043d\u0433, \u0430 \u043e\u0431\u043d\u043e\u0432\u043b\u0435\u043d\u0438\u0435 Canopy\u00bb \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/news\/messari-dlya-zcash-vazhnee-ne-predstoyashhij-halving-a-obnovlenie-canopy\/embed#?secret=iECyiS4bDr#?secret=KfNrTwTdlI\" data-secret=\"KfNrTwTdlI\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>From a technical standpoint, the update, like all prior major upgrades on the Zcash network, is a hard fork. Accordingly, node operators <a href=\"https:\/\/z.cash\/support\/security\/announcements\/security-announcement-2019-09-24\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">need<\/a> to update their software.<\/p>\n<p>In early October, the Electric Coin Company, by a majority vote of investors and stakeholders, decided to reorganize under the control of the newly formed nonprofit Bootstrap Project. In an exclusive ForkLog interview, <a href=\"https:\/\/u1f987.com\/en\/news\/zooko-wilcox-in-four-years-zcash-has-achieved-great-things-but-we-need-a-billion-users\">told<\/a> the founder of the cryptocurrency Zuko Wilcox about its aims and objectives, as well as other challenges facing Zcash.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, 18 November, the privacy-focused Zcash network saw its first halving. Concurrently at block #1046400, the Canopy upgrade was activated.<\/p>\n","protected":false},"author":1,"featured_media":31971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[160,268,1256,202],"class_list":["post-31970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-halving","tag-hardfork","tag-privacy-and-personal-data","tag-zcash"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31970"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31970\/revisions"}],"predecessor-version":[{"id":31972,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31970\/revisions\/31972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31971"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}