Zcash
Zcash holders gave near-unanimous support to faster transactions and maintaining the network's Bitcoin-style halving schedule in a governance vote on the scope of NU7, the next major Zcash network upgrade. The vote attracted roughly two-thirds of the $ZEC eligible to participate.
Nearly 2.4 million $ZEC voted out of approximately 3.6 million $ZEC eligible at the snapshot. Because voting power was weighted by $ZEC rather than individual participants, one eligible $ZEC represented one vote. Organizers had set a minimum turnout of 1 million $ZEC for the result to be considered representative of coinholders.
The proposal to reduce the time between blocks from 75 seconds to 25 seconds received 99.9% support from participating $ZEC. Shorter block intervals generally allow transactions to receive confirmations more quickly because blocks are added to the network at shorter intervals.
The second proposal, to preserve Zcash's Bitcoin-style halving schedule, received 98.9% support. Miners are partly compensated through newly created $ZEC, and a halving reduces that issuance reward by half at predetermined intervals. The alternative proposal would have reduced the creation of new $ZEC more gradually rather than through scheduled halving events.
The results provide strong coin-weighted support for both changes among the $ZEC that participated in the vote. The next focus will be the implementation and scope of NU7, particularly how the shorter block interval and existing halving schedule are incorporated into the network's next major upgrade.
