Zcash has seen a spike in the number of fully shielded transactions on its network. According to a tweet, these transactions spiked by nearly 70% last month, bringing it to more than 8,700. This represents 6% of all of the network’s transactions.
The network has been on a consistent rise for a while now. Back in March, this number jumped by 100%, over its February leveled. Between February and April, the jump comes to more than 250%. The first time the number of fully shielded monthly transactions crossed 2,000, was in November 2019, after three years.
The Zcash network supports two different kinds of addresses. They are either transparent, t-addr, or shielded, z-addr. The transparent addresses allow all transactions to be publicly accessible on the blockchain.
All of the recently monthly spike rates may be because the network now allows users to shield transactions easily. The Zecwallet Lite and Guarda wallet apps for shielding ZEC have opened members of the Zcash community to relative ease, with these transactions.
The 6% strictly represents transactions that are fully shielded. Considering every transaction on the network that can be shielded in some way or the other, this number becomes 23,676, which represents 15% of the network’s total.
In January, Zcash initiated a new mining reward allocation plan.
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