Zcash holders face a snapshot deadline today to qualify for a vote on major changes to the network’s issuance model and block speed, just as ZEC trades near its highest level since 2018.
Data from CryptoSlate shows that the privacy-focused cryptocurrency surged about 62% over the past week to as high as $880 during its latest rally before retracing to about $830 as of press time.
The move puts greater attention on a governance process that could reshape how new ZEC enters circulation and how quickly the network processes blocks.
To participate, holders must have spendable shielded ZEC in Ironwood when the blockchain reaches block 3,459,350, according to terms published by vote organizers Valar Group and Project Tachyon.
The snapshot is estimated to occur around 19:00 UTC on Aug. 24, though the block height rather than the clock determines eligibility. Funds can be moved immediately afterward.
Voting is scheduled to begin Aug. 25 and run until Sept. 14 at 19:00 UTC. Organizers said they will consider the results representative of coinholders if at least 1 million ZEC participates in at least one of the five questions, including abstentions.
ZEC holders weigh issuance and faster blocks
The most consequential questions concern how Zcash issues new coins and how quickly the network processes blocks.
One proposal would replace Zcash’s periodic halvings with a gradual issuance curve while recycling ZEC removed from circulation through the Network Sustainability Mechanism into future block rewards.
The change would not alter Zcash’s total supply cap. Holders can instead vote to preserve halvings or leave issuance smoothing out of NU7.
A separate question asks when ZEC removed from circulation should begin returning through block rewards, with options including as soon as possible, February 2027 or February 2031.
Holders will also vote on cutting Zcash’s target block time from 75 seconds to 25 seconds under ZIP 218, effectively tripling the targeted number of blocks produced each day while adjusting rewards so issuance over time remains broadly unchanged.
The remaining questions concern when to disable transactions tied to the deprecated Sprout pool and whether NU7 should launch without features that miss a Sept. 30 implementation deadline or be delayed until all approved changes are ready.
The poll is a signaling vote and not an automatic protocol change. Approved proposals would still need to complete development and deployment before becoming Zcash consensus rules.
That leaves Monday’s snapshot as the immediate deadline for holders seeking a voice in changes that could reshape Zcash’s monetary schedule and network performance while ZEC trades near multi-year highs.
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