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.


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What Is Zcash (ZEC)? | A Guide to the Bitcoin-Based Privacy Coin

What Is Zcash? Zcash is a publicly encrypted blockchain and scientific breakthrough in cryptography with its use of zero-knowledge cryptography known as zk-SNARKS. This framework allows the user to leverage two addresses: one fully private and one transparent (similar to Bitcoin). The two customizable modes, shielded and transparent, allow your transaction to be completely anonymous or publicly viewable.   In this guide, we give you the lowdown on Zcash, covering: How Does Zcash Work? Bitcoin’s Transparency Zcash Team Trading Where to Buy ZEC Where to Store ZEC Final Thoughts Additional Zcash Resources How Does Zcash Work? Zcash is significant because it provides a secure transportation layer for your data (and ultimately identity). It’s the HTTP of money. Imagine an armored car containing your data in a box. The security from the vehicle protects someone else from viewing the contents of the box as well as provides safe passage for the data. 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