Blockchain network Zcash has completed its first halving four years after forking from Bitcoin. The Zcash halving occurred when the blockchain height crossed 1,056,400.
Also, the blockchain had launched a major upgrade with the “Founders Reward.”
“Zcash is the Bitcoin of privacy. The halving is not only a milestone event but an opportunity for traders to claw back some of the market share volume from privacy challengers like Monero.
Similar to Bitcoin, the maximum supply of Zcash is 21 million coins.
A research analyst at Messari, Ryan Watkins, commented on the Zcash and Bitcoin fixed supply. Watkins said that digital assets with a limited supply like Bitcoin and Zcash “aren’t interesting” due to the halvings that occur every four years. He added that such digital assets “are interesting” because of their predictable and deterministic issuance schedule.
As per the Founders Reward, miners will continue to receive the usual 80% of block rewards. However, the remaining 20% will be shared among the new Major Grant Fund, ECC and the Zcash Foundation. As noted in a CoinDesk report, the Major Grant Fund would receive 8%, ECC would be given 7% and Zcash Foundation would have the remaining 5%.
Currently, ZEC is down 4.26% to $62.50.