Key facts
- Nearly 99% of ZEC holders voted to reduce block times to 25 seconds.
- 98.9% of ZEC holders voted to keep the halving schedule unchanged.
Zcash token holders have voted to reduce the network's target block time to 25 seconds from 75 seconds and maintain its existing halving schedule as part of the upcoming NU7 upgrade. The changes aim to reduce transaction confirmation wait times while keeping daily issuance unchanged.
The decisions by Zcash holders on block times and halving schedules directly impact transaction efficiency and the long-term tokenomics of the privacy-focused cryptocurrency, potentially influencing miner incentives and investor sentiment.
Zcash token holders have overwhelmingly backed key proposals for the network's upcoming NU7 upgrade, including reducing the target block time to 25 seconds from 75 seconds and maintaining the existing halving schedule. The results, published Monday, showed nearly 99% of ZEC-weighted votes in favor of faster blocks and 98.9% in favor of preserving the halving schedule. These changes aim to decrease the wait time for transaction confirmations while keeping the daily issuance of new ZEC tokens consistent. The proposal also indicated that features not implemented by September 30 would be excluded from the upgrade. Separately, a significant majority, approximately 97% of token holders, voted to delay the implementation of the Network Sustainability Mechanism (NSM) until February 2031. The NSM is designed to recycle a portion of transaction fees into future block rewards to address long-term network security budget concerns, as declining block rewards may eventually become insufficient to incentivize miners. The Zcash (ZEC) token has seen a notable rally, rising 3.8% in the past 24 hours and 132% over the past month.