Zcash Developers Propose Reducing Block Time to 20 Seconds

Developers propose faster block times for Zcash

Zcash developers have proposed a plan to reduce the blockchain’s target block interval from 25 seconds down to 20 seconds. A blockchain is a shared digital ledger that records transactions in groups called blocks. The goal of this change is to speed up the time it takes for a transaction to be confirmed on the network.

Developers ValarDragon and Evan Forbes submitted the draft Zcash Improvement Proposal (ZIP) on the community forum this Sunday. This suggestion comes just days after the network completed a previous upgrade that had already significantly lowered wait times.

Key details of the 20-second target

• The proposal seeks to shorten the wait for initial transaction confirmations.
• The developers claim this change would improve the experience for point-of-sale payments, deposits at an exchange (a platform for buying and selling crypto), and swaps between different blockchains.
• The network’s overall daily capacity for private transactions would not increase.
• The existing schedule for releasing new coins and the total supply limit of 21 million ZEC would remain the same.

Connection to the NU7 upgrade

This new proposal follows the activation of the NU7 upgrade on the mainnet last Friday. The NU7 upgrade reduced the target block interval from 75 seconds to 25 seconds. It also added a Network Sustainability Mechanism, which is designed to recycle some transaction fees into future rewards for miners while keeping the total supply cap in place.

Timing and community approval

The developers are requesting that the proposal be included in the next community poll. If the community supports the change, it may be included in the upcoming NU7.1 network upgrade. Because blocks would be produced more frequently, the system would be adjusted to ensure the total amount of ZEC created over time does not change.

Sources

• Cointelegraph