Tuesday, October 26, 2021
Home Crypto News Market Tezos Developers Are Planning To Implement Zcash Privacy Features 

Tezos Developers Are Planning To Implement Zcash Privacy Features 

- Advertisement -

Tezos Developers are planning a network update called Edo. The implementation of the Zcash Sapling library will allow you to hide transactions of Tezos blockchain.

According to the statement, Tezos developers Nomadic Labs, Marigold, and Meta state have submitted several proposals for Edo’s next network update. The update will bring privacy features and other improvements.

“No other major smart contract platform yet supports these features, but we can add these tools directly to the blockchain.” 

In mid-November, Tezos developers successfully activated the Delphi update, which significantly reduced fees for smart contracts. With this step, Tezos hopes to attract many Defi projects.

“We have wroked hard, on the core Tezos software and made significant improvements that we want to share with users of the network, ”  The developers said.

Edo’s first new feature will be the implementation of the Sapling library, initially developed by Electric Coin Company for the Zcash blockchain. As with Zcash, Sapling allows you to hide transactions. Tezos developers will be able to integrate this feature into their smart contracts and applications that value privacy.

The second addition to Edo will be the ticket system. According to the developers, this is a convenient mechanism for smart contracts to grant portable permissions to other smart contracts or to issue tokens. 

According to the statement, similar functionality can be achieved using existing methods, tickets should significantly simplify the process for third-party developers.

Edo also introduces the “fifth period,” which will simplify the deployment of updates in the future. It now takes about 60 seconds to launch new versions of the Protocol after voting is complete, making it difficult for some Tezos users to update their nodes smoothly. To fix this problem, Tezos developers suggested extending the update period so that users have more time to prepare.

Under the new system, instead of four periods of eight cycles during voting, we propose to use five periods of five cycles. The “fifth period” will be five cycles between the adoption of the new Protocol and the time of its launch, which, in our opinion, will help ensure a smooth transition between the protocols. The developers told.

 

Edo contains several minor bug fixes to improve performance further and reduce gas costs.

Read More:

- Advertisement -
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Jakarta, Indonesia, 24th October, 2021, Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned...

YearnNFT Finance: An Advanced Approach to NFTs with Digital Art and Collectibles

Since August, the market sales with respect to NFTs have skyrocketed, where a single NFT sales round up to millions worth. There have been...

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.