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Update: Addressing Zcash wallet performance issues

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Electrical Coin Co. (ECC) has been working since June to resolve Zcash pockets efficiency points which might be affecting customers of third-party apps Edge, Nighthawk, and Unstoppable.* All three of those cellular wallets make the most of the ECC SDK.

Our engineers have made progress, nonetheless, work stays — together with additional updates to zcashd, lightwalletd, the ECC pockets SDKs, and the ECC prototype pockets — to completely restore good consumer expertise within the impacted apps.

Fixing these points is our No. 1 precedence, even taking priority over our long run roadmap. Internally, we’re calling this “Emergency Mode.” 

The syncing downside

Beginning in June 2022, the Zcash community started experiencing an enormous improve in shielded transaction quantity. This extra community load brought about a “knowledge pileup” that prevented some wallets from having the ability to sync in an inexpensive period of time. (The present pockets sync course of requires scanning your entire blockchain earlier than funds can be found to be spent.) If a pockets gained’t sync, a consumer can’t entry or spend their funds. 

It’s an advanced problem to deal with, and at minimal, it requires growing and implementing (1) a quicker algorithm that doesn’t require a linear sync of all blocks on chain and (2) tooling modifications that may give customers the flexibility to spend funds with out having a completely synced chain. As talked about, the answer includes adjustments to each part within the shielded cellular pockets stack: zcashd, lightwalletd, the ECC pockets SDKs, and the ECC prototype pockets.

What we’ve executed to this point

Inside weeks of figuring out the issue, ECC launched two updates to zcashd that resolved full node points, and work was underway on the SDKs. In October, we launched zcashd 5.3.0 to repair out-of-memory points, however additional public releases particularly related to those syncing points have been delayed, as ECC engineers have been pulled off activity to construct zcashd 5.3.3 and 5.4.2 — essential updates that remediated vulnerabilities inherited from Bitcoin Core.

Right here’s a abstract of what we’ve executed, to this point, to deal with pockets efficiency points: 

  • Launched zcashd 5.1.0 and 5.2.0 in July to deal with efficiency in full nodes
  • Launched zcashd 5.3.0 to repair plenty of intermittent out-of-memory points
  • Accomplished many of the code updates and testing for zcashd 5.5.0, which implements payment adjustments and provides customers the flexibility to spend funds earlier than a pockets is synced.
  • Accomplished a portion of the back-end work required to assist the following launch of the iOS and Android SDKs, which can embody the primary section of an improved sync functionality.

Exiting Emergency Mode

Our high precedence is making certain customers can entry and spend their ZEC (Zcash cash). That is basic to our mission of financial freedom and a requirement for real-world personal digital money.

Pace and reliability are additionally essential to Zcash consumer expertise, so we’re constructing updates that may permit customers to obtain and spend new incoming funds quicker,** and we’re implementing options that present visibility on syncing progress.

Solely after these capabilities are delivered — and once we’re assured that wallets will not be being impacted by frequent crashes or inconsistent conduct — will we contemplate exiting Emergency Mode and widening our focus to incorporate different initiatives.

The desk beneath represents an estimated launch schedule to deal with the pockets syncing points. Every launch is slated for supply inside a half-month window to permit for dozens of inherent dependencies. Interim releases could happen primarily based on particular necessities or dependencies all through this course of. Model numbers listed can also change primarily based on emergency or different unplanned impacts.

It’s essential to notice that after these releases are made accessible, third-party builders might have plenty of days or even weeks to implement and take a look at.

Date Launch Particulars
First half of April 2023 zcashd 5.5.0 A transaction-fee construction change primarily based on total measurement (inputs/outputs) and frequency of transactions (ZIP-317) will make makes an attempt to spam or flood the community with txs way more costly and unlikely. Cell pockets customers sending common single recipient transactions is not going to be affected by this variation.

Fund availability enchancment will present the flexibility to spend funds earlier than a pockets is totally synchronized. 

Whereas this launch can have no speedy optimistic impact on the pockets consumer expertise, it is a mandatory step towards exiting emergency mode.

Second half of April 2023 lightwalletd 0.5 Companions at the moment operating lightwalletd servers might want to apply this replace to permit the long run SDK capabilities to correctly perform and ship an improved consumer expertise by way of the cellular wallets.

Helps future zcash 5.6.0 replace.

Second half of April ECC prototype pockets This preliminary model of the app is being developed with a minimal characteristic set as a take a look at platform to validate present Zcash performance and function a prototype for future characteristic growth.

Preliminary distribution might be restricted with a broader product launch later in 2023.

Second half of Could 2023 zcashd 5.6.0 DAGSync functionality, which can allow quick sync and scanning of the blockchain

Customers is not going to see the adjustments to the UX till the SDK replace 0.6 (outlined beneath) goes out.

Second half of Could 2023 Cell SDK updates 0.6 (iOS & Android) This replace will embody assist for third-party app entry to fund availability and improved sync capabilities.

As soon as this replace is stay, it is going to be as much as the person pockets builders to combine the brand new options into their software, which can allow customers to entry their funds with out points and enhance the general Zcash consumer expertise. This may finish the emergency mode.


* Based mostly on neighborhood suggestions, Ywallet has been working effectively and seems to be unaffected by excessive transaction load on the community.

** The pace benchmark we’ve set for downgrading from emergency mode is {that a} typical Zcash consumer can obtain and spend funds at a fee of a month’s price of transactions in a single hour. This isn’t an ideal measurement (use circumstances can fluctuate wildly), neither is it our finish purpose (we all know an ideal consumer expertise calls for extra), however we consider it’s essential to set a reference purpose for inner and neighborhood alignment. Future pace enhancements might be deliberate as soon as the essential points are resolved.



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Popular Analyst Says Litecoin on the Edge of Breaking Out, Updates Outlook on Ethereum – Here Are His Targets

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A extensively adopted crypto strategist believes that each Litecoin (LTC) and Ethereum (ETH) are on the verge of igniting breakout rallies.

In a brand new technique session, Michaël van de Poppe says that Litecoin’s halving narrative may push the peer-to-peer funds community to a degree final seen in December 2021.

Based on the crypto strategist, LTC is one resistance space away from a speedy worth enlargement.

“Litecoin is doing completely nice, too. It’s on the sting of getting a breakout… 

I believe the halving goes to happen in (August), which signifies that we nonetheless have six to eight weeks earlier than it takes place. I believe having a really robust rally is certainly seemingly if it breaks by means of $100. 

If it breaks by means of $100… so then I’m assuming we’re going to peak out across the space of $160 to $180.”

At time of writing, Litecoin is buying and selling for $93.39, a slight lower within the final 24 hours.

Van de Poppe additionally says that the main sensible contract platform Ethereum can be in the identical boat. Based on the crypto strategist, ETH has an opportunity to take out its fast resistance so long as it’s buying and selling above $1,800.

“As soon as we begin to take these out ($1,903), I believe we are able to begin accelerating in direction of $2,800. So so long as Ether stays above $1,800, I believe this may really go fairly quick.” 

At time of writing, Ethereum is price $1,881, a fractional lower on the day.

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About Half of Crypto Hacks and Exploits in May Targeted BNB Chain, According to DappRadar

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New information reveals that fifty% of all crypto hacks and exploits through the month of Might focused BNB Chain (BNB), the blockchain of Binance, the world’s largest crypto alternate platform.

In keeping with a brand new report by market intelligence platform DappRadar, Might noticed two dozen incidents amounting to $54 million in losses, a pointy lower from the 2 earlier months, which noticed over $100 million and $200 million in losses, respectively.

“In keeping with information from the REKT Database, Might 2023 recorded 24 incidents, leading to a mixed lack of $54 million. Whereas this determine might seem comparatively decrease than the previous months, the place losses exceeded the $100 million mark, it nonetheless emphasizes the necessity for heightened safety measures within the business.”

DappRadar discovered that precisely half of the 24 incidents singled out the BNB Chain whereas lower than 1 / 4 of them focused Ethereum (ETH), the main good contract platform.

“Nearly all of these incidents, exactly 50%, focused the BNB chain, whereas 22.7% affected the Ethereum community. This distribution underscores the significance of addressing safety gaps throughout completely different blockchain ecosystems.”

In keeping with DappRadar, the hacks reiterate the necessity for stronger cybersecurity measures for blockchains and extra vigilance on the a part of buyers because the decentralized utility (DApp) sector is weak to exploits.

“The DApp business is very inclined to hacks and exploits. It’s essential for buyers and merchants to remain up to date on the most recent safety measures and protocols. Implementing correct safety measures, comparable to two-factor authentication and particularly chilly storage, might help defend buyers’ belongings from such assaults.”

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Market Outlook #223 – An Altcoin Trader’s Blog

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