Halving took place in the network

In the network of fork of bitcoin, zcash, passed the first halving and hard fork.

Privacy-Focused Networkreduced the reward for miners from 6.25 ZEC to3.125 ZEC on block 1,046,400. In parallel, Zcash carried out the fifth update, the main task of which – eliminate the reward for project founders

The hard fork community has been preparing for this since January last year, when the management model was adopted, which includesautomatic funding for developers.

Formerly Zcash Founders Rewardfounders ”) meant that miners usually received 80% of the block reward for mining. The remaining 20% ​​was distributed among various parties, including 9.85% to the ECC founders, 2.2% of the Zcash Foundation, 5.75% of the ECC itself, and 2.2% of ECC employee benefits. This ended with the release of the Canopy update.

After the upgrade, miners will continue to receive 80% of block rewards, but the remaining 20% will bedivided between the new Fund for Large Grants (8%), ECC (7%) and the New Fund (8%). and the zcash Foundation (5%).

It stands out from the total mass of altcoins by the fact that its blockchain functionsAfter the transaction, the transaction is conducted by theencrypting information about the recipient's and sender's wallets, as well as the amount of the transaction, completely concealing the data from thethird parties.

Let us recall that the Bitcoin Cash blockchain also recently underwent a hard fork due to the fact that the developers wanted to implement a rule similar to the “Founders' Reward” Zcash.

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