Zcash is a leading privacy coin. It has successfully implemented a hard fork through the introduction of Heartwood –the all-new network update. With the given update, the miners out there can receive Coinbase transactions effectively to some secure private addresses and utilize some new features.
The given hard fork happened on 16th July at the block height of 903,000. The given reports have been generated by ECC –Electric Coin Company. ECC serves to be the profit-based development house behind the given project. Heartwood serves to be a non-controversial hard fork. It was given support by both the Zcash Foundation and the ECC.
What is Included in the Updates?
The updates by Zcash are known to including two dominant ZIPs –Zcash Improvement Proposals. The first ZIP is referred to as the ZIP 213 or Shielded Coinbase. It is responsible for bringing about the long-awaited privacy solutions for mining associated with Zcash or ZEC. The other ZIP is known to go by the name as ZIP 221 or Flyclient. It helps in adding support for the respective lightweight clients that are responsible for verifying transactions.
As Heartwood serves to be a hard fork, the updates tend to be backward incompatible. This implies that all the respective nodes must sync to the all-new software for using the given Zcash blockchain.
Heartwood serves to be the 4th hard fork associated with privacy coin since the inception of the network in the year 2016. Previously, Zcash has released Blossom as the hard fork –way back in December 2019.
Josh Cincinnati, Executive Director at Zcash Foundation, revealed that the Zcash Foundation is excited about supporting the upgrades related to the Heartwood Zcash in collaboration with ECC. At the same time, Josh added that the company is passionate about how the users can now soon connect effectively to the revolutionary Zcash network with Zebra’s help. Zebra is an alternative solution that serves to be consensus-compatible with Zcash implementation. It has also been created by the Zcash Foundation.
Private Coinbase Transactions
Counbase transactions that tend to be shielded are known to allow the respective miners to claim the given coinbase transactions. It is reflected as a reward for processing multiple transactions. The claim can be made directly to the shielded address of Zcash. Shielded addresses are known to obscure information, including addresses, amounts, and the memo field that has been encrypted.
The implementation of private coinbase transactions is Zcash’s roadmap since the early days of the project. It has been eve made possible with earlier technical updates revealed in the hard fork named “Sapling” in 2018.
With the given feature, when a solo miner or a mining pool aims at moving the respective coinbase rewards, it becomes private. For instance, a mining pool is capable of performing shielded payouts to the respective miners in the given shielded transactions.
Currently, the users just need a dedicated Zcash full node for ensuring maximum privacy. The ZIP by Zcash Foundation helps in protecting the lightweight clients from corrupted servers while maximizing the overall privacy for individual wallets.