Zcash Soars 62% Amid Governance Vote Frenzy

Zcash has surged by over 62% in the past week to reach a price of $880, as holders prepare to vote on major changes to the network's issuance model and block speed.

The snapshot deadline for qualifying votes is today, which will determine whether holders can participate in the governance process. To be eligible, holders must have spendable shielded ZEC in Ironwood when the blockchain reaches block 3,459,350, as per terms published by vote organizers Valar Group and Project Tachyon.

The snapshot is estimated to occur around 19:00 UTC on Aug. 24, but funds can be moved immediately afterward. Voting will begin on Aug. 25 and run until Sept. 14 at 19:00 UTC, with organizers considering the results representative of coinholders if at least 1 million ZEC participates in at least one of the five questions.