Now that Sapling has activated and active work on ecosystem adoption is underway, we’ve begun early planning for our next protocol upgrade, codenamed Zcash Blossom.
Upgrade Development Process
A lot of my personal effor…
RT @Steven_McKie: Next Major $ZEC release to be called “Blossom”: Dual PoW, BOLT (Layer 2 Support), Light Clients, and more.
Very exciting time for ZCash community. I expect huge growth this next year. https://t.co/FAWDSHVk4E
This seems to be the biggest one for mass adoption(Custodian Reinforcement). Shielded is already going to be default once developers can make all their mobile wallets support shielded transactions as well as the major exchanges. The next biggest hurdle has always been making this easy for non-technical users. Being able to cancel a mistaken transaction is huge.
What is it? This includes a variety of potential features that can potentially protect typical end-users as well as specialized custodians. This may include recipient address verification, “vault functionality”, “I Got Burgled Button”, transaction cancellation, or transfer rate limiting functionality.
Who does this affect? All users.
Why is this a goal? A substantial weakness of cryptocurrencies is how difficult self-custody is for wide user bases. By introducing protocol features that can help users protect themselves against theft or loss and/or enable custodian providers to reduce their operational risk, we aim to make Zcash safer for a larger user base.
Its not committed to the blockchain yet at that time, so it does not allow mutability of the blockchain. It would sound like a horrible idea if it were implemented the way that you are saying you think it will be.
So basically after the transaction is submitted, the time between then and right before the fist confirmation it will be able to be changed? or will it be able to be changed until a certain number of confirmations?
They currently have all transactions go to a mempool first for 20 blocks at maximum. I am sure they would not rescind a mined transaction because they already implemented a feature to automatically cancel mistaken transactions if those transactions are not mined after 50 minutes using a new parameter "expiryheight". Basically, all transactions go to mempool first before they are mined, so it would make sense if they used the same method they already use for expiry to implement transaction cancellation for any reason.
" When a user submits a transaction to the network, it will persist in the mempool for 20 blocks (approximately 50 minutes). If it has not been mined after that period, it is no longer valid and will be evicted from all mempools. The value will return to the sender’s wallet."
The ecosystem isn't ready yet. Sapling is just a few weeks old and software/services are just starting to fully support z-addresses. Flypool for example has just become the first pool to support private miners.
Completely deactivating sprout addresses is a first step to that end though.
I'm not sure hashrate "voting power" is critical in this case. Blossom would be a hard fork to the new parameters (the final PoW is still not decided) and if a faction chooses to stay with the old parameters they can run thier own chain.
They just can't call it Zcash, or Zcash Classic or anything with Zcash in the name since they own the Trademark and the Exchanges honor that Trademark. Zcash will remain whatever codebase Zcash Company produces.