- Voting that closed 14 September put 2,397,669 ZEC behind cutting Zcash’s block target spacing from 75 seconds to 25 seconds, with 141.6 ZEC against, about 99.9% support.
- Holders preserved the existing halving calendar over a smoothed issuance curve and backed shipping NU7 without any feature that is not implemented by 30 September.
- Activation heights are still to be set, while ZEC traded near US$1,364 early Thursday UTC, up about 22.5% in 24 hours, according to CoinGecko.
Zcash (ZEC) token holders voted almost unanimously to cut the privacy network’s target block time from 75 seconds to 25 seconds while keeping its existing halving schedule, according to coinholder vote results published on the Zcash community forum.
Holders put 2,397,669 ZEC behind the faster blocks against 141.6 ZEC opposed, with turnout “well over” the 1,000,000 ZEC threshold organisers set for a legitimate result. On issuance, 2,375,932 ZEC favoured preserving the current halving calendar against 22,384 ZEC for replacing halvings with a gradual curve.
Under ZIP 218, the specification behind the change, the per-block subsidy falls by a factor of three so “the total issuance per unit of wall clock time remains the same”, and the halving interval stretches from 1,680,000 to 5,040,000 blocks to keep halvings on the same dates.
The specification’s authors, Dev Ojha and Evan Forbes, flagged that users currently “must wait 75 seconds on average for even a single confirmation”.
Read more: Crypto Billionaires Pour £72 Million Into Farage’s Reform UK
Unfinished Features Get Dropped
Voters backed shipping NU7 as soon as possible and removing any feature not implemented by a 30 September deadline, with 2,382,601 ZEC behind that option against 12,707 ZEC for delaying until everything is complete.
Separate questions pushed the start of Network Sustainability Mechanism reissuance out to February 2031 and set the deprecated Sprout pool’s v4 transactions to be disabled at activation, while activation heights for testnet and mainnet remain to be set in the deployment specification.
The vote ran from 25 August to 14 September on a dedicated voting chain built by Valar Group, coordinated by five organisations including the Zcash Foundation, Shielded Labs and ZODL, the spinout that raised US$25 million (AU$35 million) after a wave of departures from Electric Coin Co.
Only shielded ZEC held in the Ironwood pool at an 24 August snapshot could participate, and ballots were encrypted so validators tallied results without learning who voted or how much they held.
Near-identical winning totals across the five questions drew scrutiny in the same forum thread, where several participants asked whether a handful of large holders decided the outcome; one reply noted exchanges keep most of their ZEC in transparent form, which could not vote.
A parallel Zcash Foundation poll of the Zcash Community Advisory Panel drew ballots from 135 of its 198 members.
ZEC traded at about US$1,364 (AU$1,910) early Thursday UTC, up about 22.5% over 24 hours, according to CoinGecko, extending a run that has taken the token to the top of Coinbase’s search rankings and drawn a Grayscale push to convert its Zcash trust into a spot ETF.
Read more: CryptoQuant Says Bitcoin’s Bullish Setup Faces a Critical $81,700 Test
Be the first to comment