ZEC Soars as Zcash Holders Vote for Faster Blocks and Halvings

Zcash outperformed Bitcoin on Wednesday after Zcash Labs announced it would fund work to bring the network's new shielded pool, Ironwood, to Ledger hardware wallets. The move came as Zcash holders voted to cut block times to 25 seconds from 75 and to keep halvings similar to those used by Bitcoin.

ZEC's price rose more than 7% in the last 24 hours, compared to a nearly 1% loss for BTC during the same time. The total market capitalization dropped around 2.5% over the past day, slipping below $2.7 trillion.

The decision to keep halvings was made after Zcash holders voted on NU7, the next upgrade for the network, with only ZEC in the Ironwood pool able to cast a vote. Keeping halvings won 98.9% of the overall vote.