Zcash founder Eli Ben-Sasson emphasized the importance of privacy and post-quantum security in the crypto industry. In a recent post on X, Ben-Sasson highlighted two features that he believes could become fundamental requirements for cryptocurrencies: privacy and post-quantum security. With the growing popularity of blockchain, the topic of privacy is becoming increasingly relevant, and researchers are working on post-quantum cryptography to prepare digital systems for a future where sufficiently powerful quantum computers could threaten existing cryptographic schemes.
Ben-Sasson believes that for these two aspects to gain widespread adoption, "both features must be easy to use and low-cost." Over the past few weeks, he has discussed these topics in his posts as significant changes have occurred in the crypto space. In August, the first quantum-resistant Bitcoin transaction was conducted, facilitated by the startup StarkWare, co-founded by Ben-Sasson. This transaction was executed on the main Bitcoin network and demonstrated its resilience to attacks from a functioning quantum computer. Additionally, Ben-Sasson highlighted privacy as an important aspect for decentralized finance (DeFi). Preparing for the quantum technology era remains a significant challenge: the Zcash founder stated that it is necessary to focus on two issues: first, whether the chain's cryptography withstands attacks from a quantum computer, and second, what actions users will need to take when transitioning the network to full post-quantum security.
In recent Zcash developments, shielded transaction activity reached a four-year high: 62,379 transactions were conducted in the past week, the highest since 2022. Project developers plan to include the NU7 update on November 5, which will significantly improve block time: the interval between each confirmed transaction package will be reduced from 75 seconds to 25 seconds. Testnet activation for the update is scheduled for October 6. The main features of the NU7 update include 25-second block intervals (ZIP-218), disabling version 4 transactions, and integrating NSM (ZIP-234 (alt), ZIP-235), in accordance with the halving preservation vote results, with reintroduction starting from February 2031. At the time of writing, Zcash was trading up 5.76% over the last 24 hours to $15.96 and up 27% for the week.
Related articles
