Gemini Exchange Switches Zcash Software Before Upgrade to 25-Second Blocks
(2 days ago) · 1 source · Summarized by CryptoBipto
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, has transitioned its Zcash node software in preparation for an upcoming network upgrade. The Zcash upgrade is expected to reduce block times from the current interval to 25 seconds, significantly increasing the network's transaction throughput.
WHY IT MATTERS
When a blockchain network like Zcash plans a major upgrade, every company that interacts with it — especially exchanges where people buy and sell the coin — needs to update their software. Think of it like a highway changing its speed limit and lane markings: every car (in this case, every exchange and wallet) needs to be equipped to handle the new rules, or it could cause problems. Block time is how long it takes for a new batch of transactions to be confirmed on the network. Shorter block times, like the planned 25-second blocks, mean transactions can be processed faster, similar to a checkout line moving more quickly at a store. Gemini updating its software is a routine but important step to ensure its users can continue trading Zcash without interruption after the upgrade.
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- coindesk.com
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