Zcash Coin Holders Vote on Abolishing Halving Mechanism

Zcash is preparing for its next network upgrade (NU7) and has scheduled a vote among coin holders to decide on several key changes to the protocol. One of the most significant proposals is to abolish the halving mechanism, which sees the block reward cut in half every four years, and replace it with a steady, slowly declining curve that tapers off evenly.

The current halving schedule provides no way for funds removed from circulation to be fed back into issuance later, according to the Network Sustainability Mechanism (NSM) proposal. This can make securing the network reliant on transaction fees alone once the planned issuance ends.

Abolishing the halving would mean that instead of jumping by half every four years, the issuance of new coins would follow a smooth curve. The ceiling of 21 million ZEC remains untouched in the process; only the distribution over time changes.

Voting will take place among holders of shielded, spendable ZEC in the Ironwood pool at mainnet block height 3,459,350. Eligible voters must hold funds that are both shielded and available to spend on the cut-off date. The vote itself runs until September 14, 2026.