A hard fork of a cryptocurrency is basically a switch to a brand new version of blockchain. The old version of blockchain as well as the nodes will no longer operate after a hard fork. Bitcoin, for example, had multiple hard forks which resulted in Bitcoin “babies” which include Bitcoin Gold, Bitcoin Diamond, Bitcoin Cash, Bitcoin Classic and many others.
Now the time has come for ZCash cryptocurrency. It is a decentralized digital currency the main feature of which is the high level of protection and transparency. The hard fork of this coin will take place today, on the 26th of June.
The first announcement of the upcoming update called Overwinter came out in March, and the special software was developed in May. The official post of ZCash creator, Zerocoin, claims that:
“The purpose of Overwinter is to strengthen the protocol for future network upgrades, paving the way for the Zcash Sapling network upgrade later this year.”
Overwinter is also going to improve and advance the protection mechanisms and ensure high transaction effectiveness. It will create perfect conditions for further upgrades during the next couple of years.
We would like to remind you that ZCash is now accepted at the cryptocurrency exchange Gemini.
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