Zcash Price Rises Over 10% After Governance Vote for Faster Blocks
- Zcash (ZEC) surged approximately 12% to around $1,248.34 following a governance vote.
- Nearly 2.4 million ZEC participated in the NU7 vote, representing about two-thirds of eligible tokens.
- 99.9% of participating ZECs agreed to reduce block time from 75 seconds to just 25 seconds.
- Around 98.9% voted to maintain the existing Bitcoin-style halving schedule for mining rewards.
- 96.6% supported postponing reissuance via the Network Sustainability Mechanism until February 2031.
The governance vote reflects strong community support for faster transaction confirmations and adherence to a fixed halving structure similar to Bitcoin. The integration of shielded pool support on Ledger hardware wallets further enhances Zcash’s privacy features.
With nearly all voting ZECs supporting quicker block times and maintaining the halving model, ZEC’s recent price increase underscores positive network developments amidst broader market trends.(Source)
