Zcash Is Getting a Major Upgrade in November. Could This Be a Catalyst for Further ZEC Price Gains?
Key PointsZcash's NU7 upgrade shortens block times and sends 60% of transaction fees to a reserve.
Zcash (ZEC) is set to undergo a significant technical update in November, under the NU7 network upgrade. This change will reduce the block time from 75 seconds to 25 seconds, resulting in three times faster transaction confirmations. Despite the crypto market's challenging year, Zcash has seen a 134% increase in value year-to-date.
The NU7 upgrade introduces a 60% reduction in transaction fees to support the network's sustainability reserve, while miners retain the remaining 40%. However, the upgrade carries risks, including potential issues with execution and the closure of the Sprout pool, which could render certain funds unusable. While the upgrade holds promise for improving Zcash's efficiency, its impact on the coin's price remains uncertain.
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