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Activated at block 1046400, mined November 18, 2020 12:34 UTC+00:00
Canopy is the fifth major network upgrade for Zcash, coinciding with the first Zcash halving, and in accordance with the Zcash trademark agreement, it is endorsed by both Electric Coin Co. and the Zcash Foundation. Canopy will establish a new development fund for the next four years.
Miners will receive 80% of the mining reward. The remaining 20% will be divided between the new Major Grants Fund (8%), Electric Coin Co (7%), the Zcash Foundation (5%). Read more here.
The community chose “Canopy” as the name for this network upgrade to evoke themes of collaboration and a vibrant and hospitable ecosystem for many participants.
There are five ZIPs included in Canopy. The feature selection for Canopy was determined by the Electric Coin Co and Zcash Foundation, and finalized in Release 3.1.0.
ZIP 207 and ZIP 214 are needed to establish a new development fund. ZIP 207 specifies a mechanism to support funding streams, distributed from a portion of the block subsidy for a specified range of block heights. ZIP 214 describes consensus rule changes interpreting the proposed structure of the Zcash Development Fund, which is to be enacted in Network Upgrade 4 and last for 4 years.
ZIP 211 disables the ability to add new value to the Sprout value pool balance. This takes a step toward being able to remove the Sprout protocol, thus reducing the overall complexity and attack surface of Zcash.
ZIP 212 improves the security assumptions needed to ensure that diversified addresses are not linkable. It does this by introducing a new note plaintext format for Sapling Outputs in transactions.
ZIP 215 improves the validity criteria of Ed25519 signatures used in Sprout transactions by explicitly defining criteria and changing them to be compatible with batch validation.
The Consensus Branch ID constant is changing for Canopy consistent with the Network Upgrade Mechanism process outlined in ZIP 200. The new constant is 0xE9FF75A6.
0x892F2085, and use the same transaction digest algorithm.
Zcash is cash
for a new era.