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August 2024 Work Progress Report: ZEC New Address Type, Node Updates

August

August

We Now Support Payout to TEX Addresses

As the cryptocurrency landscape evolves, so do the requirements for transaction transparency and regulatory compliance. Recent developments have led to the introduction of ZCash TEX addresses, particularly in response to increased regulatory scrutiny. Binance and other exchanges have started requiring transactions from transparent addresses, prompting the adoption of TEX addresses that comply exclusively with these types of transactions.

ZCash TEX addresses are designed to only accept funds from Transparent Addresses, not from Shielded Addresses. This means users must first transfer funds from Shielded to Transparent Addresses before sending to a TEX address. The introduction of TEX addresses (defined in ZIP 320) aims to meet exchange requirements without completely sacrificing user privacy. The push for TEX addresses comes from increasing regulatory pressures that demand more transparency in transactions, especially from platforms like Binance that threaten to delist cryptocurrencies that do not comply.

Do ZCash TEX addresses decrease privacy? For users prioritizing privacy and already using Shielded Balances, the impact is minimal. The design of our ZCash Wallet aims to minimize privacy loss and prevent tracking through metadata, although these addresses do increase the potential for node operators to correlate transaction data.

Is ZCash still regulatory compliant with TEX addresses? While TEX addresses meet current regulatory demands without significantly compromising privacy, they represent only the beginning of potential regulatory changes that could further affect privacy. The future of ZCash may need to lean more towards decentralized exchanges and wallets, which our ZCash Wallet will continue to support.

Node Updates

Zcash (ZEC) v5.10.0

The latest Zcash update introduces support for Network Upgrade 6 (NU6) on Testnet, with a planned upgrade needed soon for Mainnet. This release also improves RPC method handling and enhances platform support by dropping outdated operating systems like Debian 10, which no longer meets our security standards. Security patches from recent vulnerabilities disclosed by the Bitcoin Core security team have also been implemented to enhance node safety.

Horizen (ZEN) v5.0.4

This update extends the deprecation height of previous versions, ensuring a smoother transition for users to newer, more secure versions of the node software. It’s critical for all nodes running on…

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