Zcash Expects To Cut Mining Rewards In Half By November

Zcash expects to cut the mining rewards in half in November and now the entire crypto platform is in the middle of reorganization according to the latest reports from the development team. After only a year of discussion, the community chose the changes which were mentioned in the ZIP 1014 r the new Zcash improvement proposal as we reported in the Zcash news previously.

Similarly to Bitcoin and its expected halving in two months, Zcash expects to cut the mining rewards by 50 percent by November and this new upgrade will bring the mining reward level from 5 to 2.5 ZEC. Once this halving takes place, the entire  Zcash improvement proposal shows that the distribution of the tokens issues will be reorganized. For example,80 percent will go to minors, 5 percent to the Zcash Foundation, 7 percent for the Electric coin company and their management team, and also 8 percent for Major Grants which is a program that will help long-term projects that want to deal with crypto.

Beyond this reorganization in the distribution of the blocks, the ZIP 1014 wants to become the most widely supported proposal by the entire community. Many of the changes are already applied and this ZIP 1014 roadmap becomes the priority for the future prospects of the altcoin. For example, according to the proposal, the name and the logo of the coin will be used to mention the blockchain that uses the Zip 1014 in the consensus rules after the upgrade of the network. ZIP 1014 initiates a lot of processes and some of which are going to be done in November after the halving.

As per the recent Zcash news, In May 2019, the Zcash Foundation launched ZEPIO which was a privacy-focused wallet that sends shielded transactions by default and includes full Zcash nodes. The foundation also focuses on granting funds to different privacy oriented projects. In 2019, the foundation fund seeded around $40,000 to the Open privacy research society to promote privacy-enhancing technologies. The Zcash news and rumors show that there is a lot of potential in the price movement as it was the level of $70 at the starting of February. The volume traded at that time and was on a significant rise at around $900 million as compared to one of the current market cap which stands at a weak $378 million.