Zcash, a decentralized privacy-focused cryptocurrency is set to launch the genesis block of the Zcash blockchain network by October, 2016. Once successfully launched, anyone will be able to mine the cryptocurrency and send anonymized transactions around the world, providing transaction freedom and enhanced user privacy,
Currently, the Zcash development team is undergoing a process caused the audit phase, in which the code of the network and the cryptocurrency is tested for proper security and safety measures. Developers are collaborating with a few of the world’s most reputable audit firms and hackers to discover and fix potential vulnerabilities in the code.
The first phase of the auditing process has begun and partnering audit firms have started to work on full audit reports that will enable the Zcash developers to mitigate any vulnerabilities in the network. The filing of audit reports will lead to the public release of the Zcash Beta code on September 7, 2016, that will allow users to integrate Zcash into various products and services.
Beta code release of Zcash is still set to be testnet and the Zcash team plans to prolong the Beta phase for security auditing, integration work with ecosystem partners and secure parameter generation. Throughout the Beta phase, more tests and audits will be carried out to ensure that the security and safety measures of the network are in par with the expectations of users,
When all of the test results and audit reports are released, the Zcash blockchain will be introduced to the public. The Zcash team is targeting October 28 as the final launch date, launching its cryptocurrency and software release for the Sprout Series releases.
“We are calling this software release, and this initial phase of the blockchain ‘Sprout’ to emphasize that it is a young, budding blockchain with great potential to grow,” explained Nathan Wilcox of Zcash.
Over the next few weeks, Zcash will publish various blog posts on mining methods, integration data, partnerships, and other innovative projects being led by the Zcash team.