Big News — Chain Split from Zclassic Now at Block 110,000
Last night, as our ZenCash developers were getting close to having the launch version of the ZenCash node software available for download and testing, and as they were talking through the exact process for the launch, they realized there were things they could do to reduce risk on launch day.
After having a discussion, the ZenCash core team decided to spread out the launch process over 1 week.
This is a change!
Previously we had said any Zclassic you held up until launch on May 23 would be converted 1 for 1 into ZenCash. Now it is only Zclassic up to and including Zclassic block 110,000.
We are still going to launch ZenCash on May 23 — we are inserting a one week pause to get everything ready. This will make the launch go much more smoothly. And because it gives our exchange and mining pool partners time to stage their servers, prepare the ZenCash block chain for launch, and test their systems, it means the process is going to be better for everyone.
We just have to spread the word that any Zclassic you purchase after block 110,000 will not get you any ZenCash.
After the blockchain split, Zclassic will continue as before. It is a great community version of Zcash, there are active developers, and it will continue to be a viable cryptocurrency.
On May 23, we are going to launch ZenCash. That means there will be a period of about 1 week you will have to wait, from block 110,000 on the Zclassic blockchain, until the ZenCash block 110,001 starts at the launch.
Closer to launch, Josh (movrcx) will generate the Zcash Genesis block. This is the same exact thing that Josh did to start the Zclassic blockchain. It worked out well then, and it will work out well this time. Josh is the lead developer on Zclassic, on ZenCash, on the Eleos Equihash wallets, and on z-nomp, the open source Zclassic and ZenCash mining pool software. Josh and the ZenCash development team will do a great job with this process.
The Genesis block will get sent to Bittrex and mining pool operators closer to the launch date.
Josh is writing something specific in the ZenCash node software that will prevent people from mining on top of the Genesis block until the launch. The ZenCash blockchain will not go live until the launch.
Josh will be doing the actual launch live at our event at The Attic in NYC. This is an invitation only event for ZenCash supporters, industry people, investors, cryptocurrency and financial bloggers, youtubers, and reporters. We are inviting people to attend the event, will provide a short presentation on what Zen and ZenCash is all about, do the launch, then celebrate!
After the launch we are going to move to the bar in the Attic to continue the celebration — this is open to all who want to come join the fun!
We’ve anticipated some questions you may have:
Question: What is the current block?
Answer: Look here at the Zclassic block explorer. Right now it is about block 104,800
Question: When will block 110,000 happen?
Answer: Should be sometime on Tuesday May 16. There is usually 24 blocks per hour.
Question: Will Bittrex support ZenCash? Will Bittrex support leaving Zclassic on the Exchange before block 110,000? Do I need to pull my Zclassic off the exchange into a private wallet before block 110,000?
Answer: The ZenCash team has updated the zencash node software to incorporate replay protection. By freezing the blockchain one week before launch, this give Bittrex time to put in place the ZenCash node software, test it, and copy over the Zclassic private keys of their account holders.
We are doing everything we can do to work with Bittrex, who is a great partner, to make this a smooth process. Bittrex will announce their support or non-support for the ZenCash fork from Zclassic on their own initiative and timeline.
Question: Will anything else change last minute that you have not told us about?
Answer: We are doing our best to make this a transparent and well publicized launch. There might be other things that come up. I can imagine things that might delay the launch, or other issues that surface.
Our team has a proven track record of success with Zclassic, we are working hard to make this a good and fair cryptocurrency that everyone has an opportunity to invest in before launch, and we will provide an opportunity for everyone to contribute through a governance system with proposals, projects, voting, and allocation of funds to worthwhile work.
We have multiple channels of information and will continue to communicate with you all thought the process over the next two weeks.
Thanks for being a part of the community!
Zen is a system of products, services, and businesses built around an enabling technology stack employing zero-knowledge proofs and a core set of beliefs.
As a distributed blockchain system leveraging the latest censorship-evading techniques, fully encrypted communications, and a social and governance model designed for long term viability, Zen will contribute to the human right to privacy and provide the necessary networking infrastructure for people to securely collaborate within a borderless ecosystem.
The launch of ZenCash will take place on May 23rd in New York City to correspond with CoinDesk’s Consensus event.
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Originally published at ZenCash Blog.