Zcash NU7 Upgrade Promises Faster Private Transactions

Zcash is planning an upgrade to its blockchain in November that will significantly improve the speed of private transactions. The update, known as NU7, aims to reduce block times from their current level to just 25 seconds.

This represents a significant improvement over the current time it takes for blocks to be confirmed on the Zcash network, which can take several minutes. As a result, users will be able to make private payments up to three times faster than they are today.

The update also includes changes to the way transaction fees are handled, with at least 60% of fees being set aside to supplement mining rewards starting from 2031.