26 Oct 2018 Simon Briggs
Zcash Set for Fast and Light Transactions with Upcoming Update
The new protocol, called Sapling, is expected to boost the usage of Zcash’s platform, as the current shielded transactions are heavy and most traders and exchanges are unable to support them.
Nathan Wilcox, the CTO of Zcash Company, stated that the integration of this new code will allow many more users to support the protocol with the possibility of creating light and mobile wallets as well.
Wilcox added that supporting light wallets is crucial in the crypto world as there are many users who work from a mobile device that doesn’t have the CPU power or storage to support full nodes.
In the current version of Zcash – Sprout, only clients running a full node can execute shielded transactions and the update aims to remove the transparent, non-private transactions that sometimes can be used together with shielded ones, but are a liability in terms of security.
Wilcox also commented on the future development and benefits of the upgrade: “Our goal is to make a light wallet that has privacy protections even against a service provider. The goal is for us to design a whole user experience all around Sapling specifically and make sure that we can have the usability and the privacy work really well together.”
Sapling is set to introduce a number of new features, including the support of diversified addresses, meaning that multiple addresses can be added to one account. This way exchanges will be able to operate with a great number of clients with the work power needed for a single wallet.
Another new option will be the so-called viewing key. It provides users with the opportunity to have a public account if they wish so. “Revealing’ the account is done by publishing the viewing key to the community.
Current users need to migrate their funds from Sprout to Sapling. During the migration process, the funds will be visible, which, as surprising as it may be to some, is intentional. This event, Wilcox says, will be used as a "turnstile audit" – an opportunity to ensure that the previous migration onto Sprout has not been compromised.
To protect its users and provide a safe migration, Zcash’s team is developing a migration tool to facilitate the processes and protect the funds. The tool will be ready to use in the upcoming months and Wilcox advises clients to wait for it before moving funds in order to ensure maximum security.
Even though Sprout addresses will not be supported indefinitely, even when they are retired, it will not affect users’ funds. Sapling and Sprout are not two different networks and if they want to benefit from the newest and safest features, users will have to upgrade to the newer version at some point. Wilcox is positive that the new code is superior and he doesn’t expect any difficulties for the users in the migration process.
Cryptocurrency Crypto Market Zcash
