Sapling is a big deal for Zcash (ZEC) and market could reward it with a nice price bump

Zcash is the world’s first widespread cryptocurrency utilizing zk-SNARKS, a “zero knowledge” cryptography, that went live in October 2016,  with the capability of verifying encrypted transactions without needing to know anything identifiable about the information in the transaction (such as amount, memo, etc).

2017 was an excellent year for Zcash as the protocol developed, matured, and the ecosystem expanded. The market-cap surpassed $1 Billion, and it is now well supported on various exchanges.

What is Sapling?

Sapling is the first major upgrade planned for the Zcash network (the first and current release being known as Sprout). According to Nathan Wilcox, CTO of the ZCash Company, the Sapling protocol would allow shielded transfers to be 100 smaller in size. At the same time, he mentioned that they would probably be six times faster.

Shielded transactions are computationally heavier to transact, validate, and record on a blockchain, rendering them difficult to support for “light” cryptocurrency users, like mobile users, and for exchanges.

?Dash vs bitcoin and Monero vs bitcoin shows you advantages and drawbacks of BTC
in comparison to most known privacy coins.

Sapling’s shielded transactions introduce new Sapling z-addresses for users which are shorter and will improve privacy for the entire Zcash network. Zcash states:

“Payments involving the new Sapling z-addresses can be constructed in as little as a few seconds and with only 40 megabytes of memory. Exchanges, mobile wallet providers, vendors and other 3rd parties will now be able to support shielded addresses.”

All exchanges will stop deposits/withdraws when the fork (Sapling upgrade) is happening for safety but should resume normally after it has settled.

Wilcox explained that the goal is to have a light wallet that would add privacy protections ‘even against a service provider.’ Sapling will also be enabling and stimulating ‘diversified addresses’ which makes it easier for exchanges to support more users that use this transaction type.

Another significant feature that will be introduced with Sapling will enable users to selectively reveal transactions. This is something that will benefit from optional transparency.

“If we have a privacy-by-default chain and you want to have an account that’s public you can just publish the viewing key to the world,” he explained.

Price expectations

The past months zCash has continually been red, just like the rest of the market. I see Sapling as a major milestone and once live, it could draw a lot of attention to Zcash and price could see a nice bump out of it. It is not a bad idea to hold some ZEC these days.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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