Zcash (ZEC), a Privacy focused digital currency, forks into a brand new blockchain network dubbed Ycash. According to a tweet from the Ycash Foundation, there are 21 million coins in total supply.
Ycash’s initial block was mined July 19, at 7:36.51 PDT. At block height 570,000, the new Zcash blockchain was forked from Zcash blockchain. It is independent of both the Electric Coin Company and the Zcash Foundation.
InitialAnnouncementHoward Loo, a member of the Ycash Team, posted in a forum thread about the launch of the Zcash Blockchain’s first friendly fork in April. The Ycash project has been launched, according to the post.”Restore a goal — mining commodity hardware — that seems to have been largely abandoned by the Zcash Blockchain”
In a post, the Ycash team explains how it uses Zcash private keys. It shares a similar blockchain history to Zcash’s. Therby, any Zcash user with Zcash private keys could use those private keys to access the identical number of Ycash.
According to the post, 90% are distributed via the mining process. 5% of coins that start at block height 570,000 will be distributed to the Ycash Development Fund. This fund is managed by the Ycash Foundation. In late June, the Electric Coin Company made public the new Zcash blockchain.
According to reports, Ethereum developers are considering implementing sharding as a scaling solution. They also plan to integrate the network into their own networks in the near future.
