Ethereum, ZCash and Cardano Will Get Upgrades In December
In December, three blockchains will release the major updates. Therefore, ZCash will get shorter block times for faster confirmations, Cardano will get a new consensus mechanism and the ability to stack cryptocurrencies, and Ethereum will introduce the ProgPoW mining algorithm.
ZCash cryptocurrency developer Electric Coin Company announced that the main network will be updated at block 653,600. This event will take place on December 11.
#Zcash Blossom is activating very soon — at block height 653600, around Dec. 11. It brings shorter block times for faster confirmations. Upgrade your nodes, and ask your favorite wallets/exchanges to upgrade theirs, too! More info: https://t.co/g7oMGnDoMV
— Electric Coin Company (@ElectricCoinCo) November 27, 2019
The upgrade is designed to increase the speed of block generation, which will increase the speed of transaction processing. The company says the formation of a new block will take half as much time - 75 seconds. In this case, the fees will not change.
Last week, Electric Coin Company introduced ZCash's 2020 development plan and long-term project strategy. In 2020, the developers intend to test new technical solutions, as well as invest money in research activities.
Charles Hoskinson, the co-founder of the Cardano blockchain platform, says that on December 9, his team will activate the Shelley update on the test network. With the update, the Cardano blockchain will switch to the proof-of-stake consensus mechanism. therefore, users will be able to participate in the staking of cryptocurrency.
Ok we got some dates. The tentative snapshot date will be November 29th, we will do an information dump on December 5th for all the staking rewards information including percentages and the testnet will be released december 9th. These dates are subject to development milestones
— Charles Hoskinson (@IOHK_Charles) November 25, 2019
Shelley is the first more update to the Cardano blockchain since its launch more than two years ago. To date, the network is in the Byron phase, which has limited functionality. Note users will be financially motivated to participate in testing the update. The developers claim that in the test network it will be possible to earn real ADA tokens.
Yesterday, Cardano developers introduced the AdaPay payment solution, which allows sellers to accept native tokens of the ADA blockchain with the transfer of fiat funds to bank accounts. AdaPay supports 35 traditional currencies and promises instantaneous payment processing.
On December 4, the Ethereum blockchain will host Istanbul hard fork. Initially, the update was activated in the Ropsten test network, which led to its split into two blockchains. In late October, Istanbul was successfully launched on the Görli testnet. In mid-November, it was launched on the Rinkeby network. The main innovation of the update is the ProgPoW cryptocurrency mining algorithm.
In January 2020, the Ethereum 2.0 will launch. Cryptocurrency stacking will become available to users, because of this, blockchain tokens can be equated to securities. Since the stacking pools promise their customers income from investing in tokens, regulators may consider that such services violate the provisions of the Howie test regarding the availability of an investment contract.