Zcash Voters Weigh in on Supply Control Ahead of Sept. 14 Deadline
Zcash (ZEC) has seen its price rise by an astonishing 143% in just 30 days, leading some investors to wonder if it's a good time to buy. The voting period for Network Upgrade 7 (NU7), which determines the policies that control new coin issuance, closes on Sept. 14. This upgrade package will impact the value of ZEC and its supply.
The first question being voted on is whether to change the mechanism for controlling new ZEC production from a halving event every four years to a gradually decreasing curve with no sudden steps. This could lead to less volatility due to the absence of supply shocks, as it would remove the Bitcoin-like market cycles based around the halving and its impact on supply.
The maximum possible supply of Zcash would remain the same at 21 million, but removing the halving mechanism would have a significant impact on the network. The voting period ends on Sept. 14, and five questions are on the ballot. The results will determine the contents of NU7 and its effects on the coin's value.
The price of Zcash has been rising rapidly, but experts advise against making investment decisions based solely on short-term price action. Instead, investors should consider holding ZEC for years to come, as it offers exposure to the growth of privacy technology that shares some of Bitcoin's best qualities.