ZEC Surges as Zcash Holders Vote to Cut Block Times and Keep Halvings
Zcash (ZEC) took the lead over Bitcoin (BTC) on Wednesday after Zcash Labs announced it would fund work to bring the network's new shielded pool to Ledger hardware wallets. The move came as Zcash holders voted to cut block times from 75 seconds to 25 and keep halvings, similar to those used by Bitcoin.
The ZEC token rose more than 7% in the last 24 hours while Bitcoin's price fell around 1%. This is a significant turn-around for Zcash as it outperformed all other top ten cryptocurrencies. The total market capitalization dropped around 2.5% over the past day.
Zcash Labs committed $80,000 to integrate the Ironwood shielded pool into Ledger devices, allowing users to self-custody coins held in the latest pool on their Ledger hardware. The integration is a key development for ZEC holders as it provides an added layer of security and convenience.