Zcash ($ZEC) rose about 12% over 24 hours and traded near $1,270 on Wednesday, after developers agreed on an activation block for Network Upgrade 7 (NU7), according to GN Crypto, citing CoinG
Zcash ($ZEC) rose about 12% over 24 hours and traded near $1,270 on Wednesday, after developers agreed on an activation block for Network Upgrade 7 (NU7), according to GN Crypto, citing CoinGecko data. CoinMarketCap data showed a similar move, with ZEC up 12.35% in 24 hours.
The privacy-focused cryptocurrency's developers have chosen block 3,543,405 as the mainnet activation point for NU7. The block is expected to be reached around November 5. The height was proposed on GitHub on Tuesday by Zcash developer Sean Bowe, according to GN Crypto.
The main change is a shorter block time. NU7 reduces the target block time to two-thirds of its current level, cutting it from 75 seconds to 25 seconds, as CoinCodex reports. Faster blocks mean transactions can receive confirmations sooner, which matters for wallets, exchanges and applications that depend on quick settlement.
The date is still a target rather than a final schedule. CoinCodex notes that the proposal has been approved by developers ValarDragon and str4d, but the activation height still needs to be incorporated into the network's deployment specification. NU7 was rolled out on the testnet on October 4, it adds.
NU7 also introduces a mechanism that temporarily removes 60% of transaction fees from circulation, with the aim of returning them to miners later, BitBase reports. The same report says funds left in the legacy Sprout pool will no longer be spendable after the upgrade, so holders with funds there need to migrate them beforehand.
Readiness work is continuing. GN Crypto reports that the Zcash Foundation's NU7 readiness tracker listed six of 12 tasks as complete. Remaining items include resolving synchronization issues with Zebra nodes and preparing the mainnet. Developers have not confirmed whether those issues could affect the planned activation date, the outlet adds.
For traders, the upgrade is a near-term catalyst to watch alongside the technical rollout. Price moves around protocol upgrades can reverse if timelines slip, and ZEC has been volatile in recent weeks. Blockchain Reporter noted that it dipped to about $1,049 on October 18 before recovering.
GN Crypto: Zcash Rises 12% After Developers Set NU7 Activation Block
CoinCodex: Zcash Targets Nov. 5 for NU7 Upgrade
BitBase: Zcash Developers Set November 5 Target for NU7 Upgrade
