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Zcash rallies as holders brace for vote on issuance and block speed
A Zcash snapshot for voting eligibility is expected around 19:00 UTC Aug. 24, with the vote running Aug. 25 through Sept. 14.
Zcash (ZEC) jumped about 62% over the prior week to as high as $880, trading around $830 as holders prepare for a governance vote that could change how new ZEC enters circulation and how quickly the network processes blocks, according to CryptoSlate.
To participate, holders must have spendable shielded ZEC in Ironwood when the blockchain reaches block 3,459,350, with the snapshot estimated to occur around 19:00 UTC on Aug. 24. Funds can be moved immediately after the snapshot, but eligibility depends on the block height rather than the clock.
Voting is scheduled to begin Aug. 25 and run until Sept. 14 at 19:00 UTC. Organizers said results will be considered representative if at least 1 million ZEC participates in at least one of the five questions, including abstentions.
The most consequential proposals relate to issuance and block time, including replacing periodic halvings with a gradual issuance curve and potentially cutting the target block time from 75 seconds to 25 seconds under ZIP 218. The poll is described as a signaling vote, meaning approved proposals would still need development and deployment before becoming Zcash consensus rules.