Zcash (ZEC) successfully hard fork and activated Spaling network upgrade

Zcash company on Oct 28 has announced the successful activation of Zcash Sapling network upgrade at block height 419200. Execution of Sapling in the network will introduce new shielded addresses with significantly improved performance with a time reduction of 90% for constructing transactions, and a memory reduction of over 97% enabling lighter and faster private transactions.

Zcash is a fork from the original bitcoin source code and claims to fully protect the privacy of transactions as it unlinks coins from their history on the blockchain. This feature of Zcash made it a unique privacy coin. Shielded addresses and their associated balances are not visible on the blockchain.

Zcash 2.0.0 is the first Sapling-compatible version of the Zcash node software. Sapling represents over two years of protocol design and engineering with cryptographic breakthroughs that improve the performance and functionality of shielded (encrypted) transactions.

Payments involving the new Sapling Zcash addresses can be constructed in as little as a few seconds and with only 40 megabytes of memory. Exchanges, mobile wallet providers, vendors and other 3rd parties will now be able to support shielded addresses.
The increased use of shielded addresses will improve the effective privacy for the entire network.