Zcash Activated The Blossom Network Upgrde: Can The Price Jump?

Zcash activated the Blossom network upgrade a week ago and the upgrade halved the block time to 75 seconds in order to increase throughput. The markets responded well but will it be enough to boost the price? Let’s find out in today’s Zcash latest news.

The Blossom upgrade is a very simple change that increases the throughput of the Zcash blockchain and the blocks are produced twice as fast while maintaining the same capacity which allows a lot more transactions to be processed in the same amount of time. The mining rewards were adjusted to maintain the same emission schedule with a few other accommodating changes. Blossom is the first upgrade of the network upgrade pipeline that was developed by electric Coin Co, which is a company that developed Zcash. It was supposed to include two other proposals including the split founders’ reward and Harmony mining.

Zcash activated blossom and the upgrade remains a huge increase in Zcash’s transaction rate and it is hardly revolutionary. The price of the altcoin rallied by approximately 14 percent in the past week and using these metrics allows eliminating a lot of the wider market’s fluctuations that could influence its dollar price. However, this doesn’t quite fix the bad performance this year. After reaching a capitalization of about $800 million in June, it tumbled to about $250 million which is much lower than the start of the year.

The market capitalization figure was influenced by the significant supply dilation that happened a few years ago and the price is faring even worse since the last time ZEC traded for $30 was in 2017. There were a lot of factors that influenced the price.
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The supply could’ve had an outsized effect on its value by losing more in price than it actually gained. Zcash had a very volatile year since there were a lot of conflicts between the Zcash Foundation and Electric Coin as well. The regulatory pressure increased this year and had a stronger effect on the price of the coin.

Zcash will have to find a way to boost the interest of the community since the market is already losing traction. The Electric Coin VP Marketing Josh Swihart explained that the company will release a transparency report with all needed financial information:

 “I’m highly optimistic for the future of Zcash based on the current community governance and funding conversations.”