Zcash surges 62% to $880 as holders prepare to vote on changing how ZEC is issued
Zcash holders face a snapshot deadline today to qualify for a vote on major changes to the network’s issuance model and block speed, just as ZEC trades near its highest level since 2018.
Data from CryptoSlate shows that the privacy-focused cryptocurrency surged about 62% over the past week to as high as $880 during its latest rally before retracing to about $830 as of press time.
The move puts greater attention on a governance process that could reshape how new ZEC enters circulation and how quickly the network processes blocks.
To participate, holders must have spendable shielded ZEC in Ironwood when the blockchain reaches block 3,459,350, according to terms published by vote organizers Valar Group and Project Tachyon.
The snapshot is estimated to occur around 19:00 UTC on Aug. 24, though the block height rather than the clock determines eligibility. Funds can be moved immediately afterward.
Voting is scheduled to begin Aug. 25 and run until Sept. 14 at 19:00 UTC. Organizers said they will consider the results representative of coinholders if at least 1 million ZEC participates in at least one of the five questions, including abstentions.
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