Parity Announces a Technical Partnership with Zcash

Parity Announces a Technical Partnership with Zcash

On October 30, Zcash Foundation announced their collaboration with Parity Technologies to build a consensus-compatible Zcash node implementation in Rust

The team-work will lead to the creation of the first Zcash node that isn't built or managed by the Zerocoin Electric Coin Company.

An independent node implementation provides more options for Zcash miners and users, which promotes healthy decentralization of the cryptocurrency protocol as it matures.

Josh Cincinnati, Zcash Foundation Executive Director

Parity plans to use Parity Bitcoin as a starting point and write in the Rust programming language. They will have two engineers to manage development of the new zcash node, while the Zcash Foundation is looking to hire four engineers.

Our technical collaboration with the Zcash Foundation will bolster the cryptocurrency as a tool for financial privacy. We’re excited to leverage the time and expertise that we’ve already invested in Parity Bitcoin, while familiarizing our engineers with zero-knowledge cryptography and building a foundation for a Polkadot Zcash bridge.

Fredrik Harrysson, Parity CTO

Currently, zcashd is the only consensus-compatible node available, so the creation of the other one will increase Zcash network security. Moreover, the software to be built will meaningfully change the power dynamics of the Zcash ecosystem.

The Zcash Foundation

The Zcash Foundation is a financial privacy nonprofit. The organization is devoted to building internet payment and privacy infrastructure for the public good.

Parity Technologies

Parity Technologies is an infrastructure and innovation focused company building platforms and applications, founded by Gavin Wood and Jutta Steiner. Their work combines cutting-edge cryptography, cellular system, peer-to-peer technology and decentralised consensus architectures.

ZCash

ZEC
Price
85.65 USD 1.37%
0.00977600 BTC 13.48%
Volume, 24h
360,893,850 USD
0.00%
Marketcap
563,431,290 USD
0.21%
Emission

Related news

Binance.US users can now trade Algorand (ALGO) and Zcash (ZEC)

Binance.US, Binance’s crypto trading created exclusively for customers in the U.S., announced that it had listed two new cryptocurrencies–Algorand (ALGO) and Zcash (ZEC). Deposits for the two new cons are currently open in preparation for trading, which will open on Oct. 17 at 9:00 pm EST. Two new trading pairs added to Binance.US Customers in the United States using Binance’s crypto trading platform Binance.US can now trade two new crypto pairs. According to the exchange’s official blog post, Algorand (ALGO) and Zcash (ZEC) are now officially listed on the platform. While trading for the ALGO/USD and ZEC/USD trading pairs will begin on Oct. 17, at 9:00 pm EST, customers can already deposit both coins. However, the exchange noted that withdrawals for both coins will only be enabled after trading begins. Algorand and Zcash are the latest coins listed on Binance.US, which currently has 17 cryptocurrencies listed for trading against the U.S. dollar. Binance expanding its U.S. offer Binance’s U.S. arm has been growing at an extremely fast pace since its launch. The platform, which officially opened on Sept. 24, 2019, has been listing new coins every few days for the past week, after initially enabling trading only for BTC, ETH, XRP, BCH, LTC, BNB, and USDT. Trading for Dash (DASH) opened on Oct. 15, just five days after Chainlink (LINK) and Ravencoin (RVN) were both listed on the platform. The exchange currently enables verified users to trade fiat-crypto and crypto-crypto trading pairs for free until Nov. 1. Binance.US also offers a $15 referral bonus for each new signup. Earlier in September, the exchange said that it was also considering listing several stablecoins in the following months, including Paxos Standard (PAX), TrueUSD (TUSD), and USD Coin (USDC). The post Binance.US users can now trade Algorand (ALGO) and Zcash (ZEC) appeared first on CryptoSlate.
Cryptoslate

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.