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).
Announcing Ycash, The First ‘Friendly Fork’ of the Zcash Blockchain https://t.co/tqPSC3GViZ
— Ycash Foundation (@YcashFoundation) April 11, 2019
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.
Did you like the news you just read? Please leave a feedback to help us serve you better
Post Views: 581