Why Zcash Is Back in the Game

marsbitОпубліковано о 2026-05-18Востаннє оновлено о 2026-05-18

Анотація

The article, an update from ZODL founder Josh Swihart, outlines Zcash's evolution from a "privacy coin" into a broader financial privacy infrastructure. Its core mission is to build a parallel financial system free from mass surveillance, enabling users to privately hold and spend ZEC anywhere. The strategy emphasizes focus: building essential protocol and product (Zodl wallet) capabilities in-house, accelerating development by integrating with external products/chains (e.g., NEAR Intents for swaps), and rejecting non-essential "side quests." Recent progress includes the Zodl iOS 3.4.0 release, updates to Swift/Android SDKs, and testing of in-wallet Coinholder Polling for governance. The Zcash Core team is working on shortening block times, fixing shielding issues, and advancing the Zallet alpha wallet. Upcoming features for Zodl include automatic server switching and multi-currency conversion. The piece highlights a shift towards holistic user adoption, connecting financial privacy, wallet experience, cross-chain utility, and community governance. It concludes with updates on an upcoming ZODL Summit, new team hires, grant applications, and recent positive media coverage, asserting that focused execution is paving the road to a private financial future for billions.

Editor's Note: This article is a periodic update by Josh Swihart, founder of ZODL, on the recent roadmap and ecosystem progress of Zcash. The article defines Zcash's long-term goal as: building a parallel financial world without mass financial surveillance, where users can freely hold, transfer, and use assets with privacy protection by default. Its core value proposition can be summarized in one sentence: Hold ZEC privately, and spend it anywhere.

Focusing on this goal, the ZODL team emphasizes that the key going forward is not infinite feature expansion, but maintaining strategic focus: Core capabilities that must be built natively at the protocol layer and within Zodl products should be prioritized; functionalities that can be composed with external products and public chains should be accelerated through partnerships; and "side quests" unrelated to the mission need to be actively rejected.

In terms of specific progress, Zodl iOS 3.4.0 has been released, Swift and Android SDK 2.5.0 have been updated synchronously, the in-wallet Coinholder Polling voting feature is in testing, and features like automatic server switching, multi-server transaction submission, and multi-currency conversion have been scheduled for later development. Meanwhile, Zcash Core continues to iterate on foundational work, focusing on reducing block time, fixing shielding transaction issues, advancing the Zallet alpha, and optimizing the synchronization engine.

Overall, Zcash is attempting to shift from a single "privacy coin narrative" to more complete privacy financial infrastructure construction. Financial privacy, wallet experience, cross-chain usability, and community governance are being connected into a path towards mass user adoption. For Zcash, privacy is not just a technical feature; it is the prerequisite for financial sovereignty.

Original text follows:

Our destination is clear: we are building a parallel world without mass financial surveillance. There, law-abiding individuals can trade freely and privately; financial privacy is the default state; and access to markets is a fundamental right. Without privacy, there is no sovereignty.

Our work is to build the road there for billions of people. From user onboarding and secure storage, to spendability and actual utility, this road must be wide enough to carry sufficient traffic, and robust enough to withstand the test of time.

Every road needs a foundation. Our simplified value proposition is: hold privately, pay anywhere. Holding ZEC privately protects us from others prying into our wealth and transaction history; paying anywhere means we can truly use our private assets regardless of the recipient's preferred currency.

Ben Horowitz once said the only job is to ship the right product at the right time. Both parts must be true simultaneously. After a decade of continuous refinement, we finally have both.

We lay stones on the foundation. These stones represent the major bets that truly propel us forward quickly: they create value, bring new utility, and drive broader adoption. They are not things that impede user progress. Every step a user takes towards the destination must be simple enough.

We also fill gravel between the stones to reinforce the road. These include UI tweaks, minor protocol improvements, and various optimizations. Gravel alone is not the road's foundation; without stones, it would quickly wash away in the rain. It is important, but only after the stones are laid.

Our time is limited, but there is much to build. We cannot linger too long in towns along the way; we cannot build the road too wide, adding extra things that don't help us reach the destination faster; nor can we build it too narrow, excluding future travelers. We cannot each carve multiple paths just because we prefer our own solutions; and we certainly cannot build towards someone else's destination. We must constantly self-correct, confirm our direction, and maintain the discipline to build only what is truly necessary.

It is this focus and execution discipline that allows us to categorize and prioritize our work.

· What we must do ourselves: Those capabilities that must be built natively at the protocol layer and within Zodl products.

· What we can compose: Things that other products and public chains already provide and can be combined with our core capabilities to unlock greater utility faster. Our partnership with NEAR Intents to support swaps and CrossPay is a good example.

· What we choose to reject: Side quests, superfluous features, or activities misaligned with the mission that do not sufficiently advance us towards the destination.

We plan to share, test, and recalibrate our work around these categories at the upcoming ZODL Summit in July. I also hope the entire Zcash community can remain aligned and move forward cohesively, allowing us to maximize our collective advantage rather than going our separate ways. For a decentralized protocol like Zcash, diverging paths are inevitable: different ideas and perspectives are normal. But if we can align on the work of "laying the stones" as much as possible, we will reach the destination. We will build this road for billions.

Here is this week's ZODL update.

Zodl (Product)

Zodl iOS 3.4.0 has been released. Version 3.3.0 introduced the ability to disconnect a Keystone hardware wallet from Zodl; version 3.4.0 ensures a smoother reconnection process. Together, these versions allow users to complete the full hardware wallet setup management cycle within Zodl: connect, disconnect, reconnect. See the release post for details.

The underlying Swift SDK 2.5.0 and Android SDK 2.5.0 have also been released, completing the 2.5.0 cycle on both platforms and bringing rewind/rescan pipeline and synchronizer state work, setting the stage for the next wave of mobile features.

The implementation and review of Coinholder Polling have been completed on both iOS and Android, a collaborative effort with the Valar Group team. The code is now merged and in internal testing. The first in-wallet coinholder vote is planned for the upcoming NU7 opinion vote as scheduled.

The design, UX, and UI for Coinholder Polling have been updated based on the latest round of feedback, including a bottom sheet picker allowing users to choose which organization publishes the currently valid voting list; boundary scenario interfaces for voting and viewing results have also been added.

Going forward, the product side will continue to advance:

· Continue testing and refining Coinholder Polling.

· Continue addressing iOS sync errors.

Upcoming features include: automatic server switching, multi-server transaction submission, multi-currency conversion.

Finalize the design updates for Coinholder Polling and shift focus to multi-account support design.

Zodl iOS Data

Unique Installs: 41.9k(+0.5k)

Total Downloads: 49.9k(+0.7k)

App Store Rating: 4.9★ (unchanged)

Zodl Android Data

Install Base: 15.6k(+0.3k)

Total Installs (including Open Beta): 50k(+0.5k)

Play Store Rating: 4.24★ (-0.02)

Zcash Core (Including R&D)

This week, discussions on the proposal to reduce block time from 75 seconds to 25 seconds have converged.

Diagnosed and fixed a shielding (transferring to the shielded pool) failure issue (librustzcash #2347). This issue affected Android Zashi/Zodl users holding many small transparent UTXOs, a typical scenario for miners receiving regular small payments.

Multiple ZEWIF fixes have landed, including a blob size correction and a redeem-script handling fix, further improving wallet and data exchange reliability. Conception of a follow-up zewif2 also began this week.

Zallet alpha.4 progress: Reviewed and merged alpha version breaking change detection. Old alpha wallets will now refuse to run on incompatible builds instead of corrupting state data.

Reviewed a set of PRs for shielded-voting Swift SDK and multi-server transaction submission implementation, both directly serving the mobile work mentioned above.

Completed follow-up work on CompactBlock messages, reducing legacy burden and protocol overhead.

Unified zcash_client_backend's handling of sending and receiving transparent UTXOs (librustzcash #2260), fixing inconsistencies in the transparent UTXO path.

Going forward, the Core side will focus on:

· Focusing on the remaining scope for Zallet alpha.4.

· Completing review of z_shieldcoinbase RPC support.

Three synchronization engine works are progressing sequentially: put_blocks / store_decrypted_tx refactoring to unify shielded and transparent processing paths; supporting full-block scanning in zcash_client_backend; migrating to Zaino's new ChainIndex trait.

Extending Zallet's zcashd migration capability to support all legacy key types, and building integration tests around keys generated by historical versions of zcashd.

Other

Community review has begun for a set of NU7 opinion vote questions (forum post, X post). This vote will be conducted simultaneously via ZCAP and coinholders and will implement the first in-wallet coinholder vote via Zodl. Hardware wallet users can participate via Zodl + Keystone.

ZODL Summit invites are open (forum post, X post). The ZODL Summit, formerly the Z|ECC Summit, is the biannual working gathering for Zcash contributors and ecosystem partners. It will be held in Prague, Czech Republic, from July 8-10. Apply here.

Cypherpunk Policy Dinner: Continued community communication around the main ZCG grant application. This is a side event of the 2026 DC Privacy Summit. Once approved, next steps include recruiting more Zcash ecosystem sponsors while ensuring the event remains focused on Zcash.

New team members are joining in the coming weeks. Harry will join as Senior Mobile QA; Danny Willems will join on May 27th as Principal Cryptography Engineer; Giulia will join as Marketing Assistant.

A Coinholder Grant application for Zcash Core work has been submitted. See the post.

Miner BD: Outreach process has commenced, with codebase maintainers directly contacting miners to enhance communication and collaboration with the mining community.

Marketing: The ECC blog is back. Zodl x Slope brand engagement continues.

Market & Ecosystem

This week, Zcash was covered by The Wall Street Journal, Forbes, and Fast Company. Six years ago, some were declaring Zcash dead.

Still holding solZEC? Shield it, folks. It's easy.

Watch out for Bankless' podcast episode on Zcash this week.

Keep Building, Forward.

Пов'язані питання

QWhat is the simplified core value proposition of Zcash as outlined in the article?

AThe simplified core value proposition is to privately hold ZEC and spend it anywhere, enabling users to hold assets privately away from surveillance and use them for payments regardless of the recipient's currency preference.

QWhat are the three categories used by the ZODL team to classify and prioritize their work?

AThe three categories are: 1) Things we must do ourselves (core capabilities to be built at the protocol layer and in Zodl products), 2) Things we can combine (leveraging external products/chains to accelerate utility, like the NEAR Intents partnership), and 3) Things we choose to refuse (side quests, extra features, or activities not aligned with the mission).

QWhat significant new feature is being implemented for the upcoming NU7 opinion vote in Zodl mobile wallets?

AThe significant new feature is Coinholder Polling, which is being implemented for in-wallet voting. It has completed development and review for iOS and Android and is now in internal testing, with its first use planned for the upcoming NU7 opinion vote.

QWhat specific protocol-level improvement is being discussed regarding Zcash's block time?

AThe protocol-level improvement being discussed is a proposal to shorten the block time from 75 seconds to 25 seconds.

QAccording to the article, what broader narrative is Zcash attempting to shift towards, beyond being just a 'privacy coin'?

AZcash is attempting to shift from a singular 'privacy coin narrative' towards building a more complete infrastructure for private finance, connecting financial privacy, wallet experience, cross-chain usability, and community governance into a path for mass adoption.

Пов'язані матеріали

STAR 50 Soars 10.73%, Why Did A-Shares Stage a "V-Shaped Reversal"?

After a prolonged decline, the Chinese A-share market staged a strong rally on July 21. The STAR 50 index surged 10.73%, its largest single-day gain in nearly a year, leading a broad-based "V-shaped" reversal. The Shanghai Composite Index rose 1.79%, the Shenzhen Component Index gained 4.81%, and the ChiNext Index jumped 7.05%. Total market turnover reached 2.97 trillion yuan, an increase of 256.1 billion yuan from the previous session, with over 3,100 stocks advancing. The semiconductor sector spearheaded the rebound, with related ETFs posting significant gains. Analysts attribute the surge to three converging factors. First, coordinated capital inflows from "national team" institutions, insurance funds, listed company buybacks, and fund house self-purchases have bolstered market liquidity and confidence. Second, supportive policy signals, including commitments from regulators to ensure stable market operations, provided a favorable backdrop. Third, a stabilization and recovery in overseas markets, notably South Korea, created a positive external environment. Institutions suggest the most severe panic selling phase for the tech sector has likely passed, following a significant digestion of crowded positions and leveraged funds. While short-term volatility may persist, the medium to long-term outlook remains underpinned by enduring trends like AI computing demand expansion and semiconductor localization. The market's focus now shifts to the sustainability of supportive fund flows, earnings reports, and upcoming catalysts from the global AI industry chain.

marsbit16 хв тому

STAR 50 Soars 10.73%, Why Did A-Shares Stage a "V-Shaped Reversal"?

marsbit16 хв тому

U.S. Tech Momentum Stocks Post Largest Single-Day Gain Ever, But Is the Plunge Over?

US tech momentum stocks staged a sharp rebound on Tuesday (July 21st). Morgan Stanley's TMT Momentum Factor surged over 12%, marking its largest single-day gain on record, exceeding even peaks from the 2000 dot-com bubble. Key momentum indices from Goldman Sachs also posted their strongest daily performances in years. The rally was led by semiconductors, with the Philadelphia Semiconductor Index jumping 4.6%. This rebound followed three consecutive down days and a cumulative 33% plunge in momentum stocks, one of the steepest drawdowns since the dot-com era. Analysts attribute the surge largely to a short squeeze. Heavy selling had pushed high-beta momentum stocks into deeply oversold territory, forcing many short sellers, particularly in Asia, to cover their positions, creating a self-reinforcing buying spiral. However, the rebound's internals appear weak. Trading volume was notably low, and advancing stocks still lagged decliners on the S&P 500, indicating a narrow, concentrated rally rather than broad market participation. Diverging views emerge on the outlook. BTIG warns the bounce has hit key resistance and recommends selling into strength, citing extreme volatility and historical parallels to past market tops. Conversely, Goldman Sachs and UBS believe the momentum unwind is nearing its end, suggesting it may be time to gradually add exposure, as positioning has been significantly reduced. They caution, however, that high volatility warrants a measured approach, potentially using defined-risk strategies. The upcoming earnings season, particularly reports from major tech firms like Alphabet, is seen as a critical test for the rally's sustainability. Simultaneously, bond markets flashed a warning, with yields rising partly due to spiking oil prices. Analysts note that if long-term Treasury yields break decisively higher, it could pose a significant headwind for equities, especially growth stocks.

marsbit23 хв тому

U.S. Tech Momentum Stocks Post Largest Single-Day Gain Ever, But Is the Plunge Over?

marsbit23 хв тому

U.S. Tech Momentum Stocks Record Largest Single-Day Gain Ever, but Has the Rout Ended?

U.S. tech momentum stocks staged a dramatic rebound on Tuesday, July 21st. Key momentum indices like the Morgan Stanley TMT Momentum Factor and Goldman Sachs' High Beta Momentum Long Index posted historic or near-historic single-day gains, fueled largely by semiconductor stocks. This sharp rally followed a severe three-day sell-off that saw momentum stocks plunge 33%, marking one of the steepest pullbacks since the dot-com bubble. Analysts attribute the bounce primarily to a short squeeze, as forced covering from over-leveraged traders, particularly in Asia, created a buying spiral. However, the rally's health is questioned due to weak market breadth—overall trading volume was low, and decliners outnumbered advancers in the S&P 500 despite the index's gain—suggesting a narrow, concentrated surge rather than broad recovery. Opinions on the sustainability diverge. BTIG strategists warn the rebound has hit key resistance levels, citing extreme volatility and historic stock dispersion as signs of an ongoing broader correction, and recommend selling into strength. Conversely, Goldman Sachs and UBS view the aggressive momentum unwinding as nearing its end, noting reduced positioning and a lack of new fundamental catalysts. They suggest the sell-off presents a selective opportunity to add exposure, albeit cautiously and gradually using defined-risk strategies. The immediate trajectory hinges on the ongoing earnings season, with market focus on Alphabet's capital expenditure guidance for AI investment clarity. Meanwhile, bond markets present a risk, with rising Treasury yields—potentially heading toward 5.5%—and widening credit spreads for mega-cap tech companies posing a threat to equity valuations. The combination of technical factors, earnings results, and macro conditions leaves the durability of the rebound in doubt.

链捕手26 хв тому

U.S. Tech Momentum Stocks Record Largest Single-Day Gain Ever, but Has the Rout Ended?

链捕手26 хв тому

Long-Divided Must Unite, Long-United Must Divide: When L1 Becomes Its Own Rollup, What Is Ethereum's Endgame?

"The Inevitable Cycle: When L1 Becomes Its Own Rollup – What is Ethereum's Endgame?" For years, the Ethereum community grappled with concerns that L2s were fragmenting the ecosystem and eroding L1's value. While L2s provided cheaper execution, they also splintered liquidity and the unified user experience of a single chain. This has prompted a fundamental reassessment of the relationship between L1 and L2. Ethereum's roadmap is evolving. The "Scale" initiative merges L1 and L2 expansion into a holistic framework. L1 itself is advancing with higher gas limits, statelessness, and zkEVM verification, no longer content to be just a low-throughput settlement layer. Consequently, the primary value proposition of L2s is shifting from merely providing cheap blockspace to offering L1 cannot easily provide: application-specific optimizations, privacy features, and flexible governance models. L2s are becoming a spectrum of execution environments with varying degrees of security inheritance from Ethereum. A critical challenge in this multi-chain future is interoperability. The vision is to make Ethereum "feel like one chain again." This relies on advancements in native account abstraction (like EIP-7702) and intent-based architectures (Open Intents Framework), where users declare desired outcomes, and solvers handle the complex cross-chain execution. Furthermore, shortening Ethereum's finality time from minutes to seconds is crucial, as it underpins trust between chains for bridges, stablecoins, and cross-chain applications. Perhaps the most provocative idea is that Ethereum L1 itself could become a form of "its own Rollup." As zkEVM and proof systems mature, high-performance nodes could execute transactions and generate validity proofs. Regular validators would then verify these proofs instead of re-executing all transactions. This blurs the traditional L1/L2 hierarchy, making "Rollup" more of a general execution-verification architecture. Native Rollup aims to integrate L2 validation more directly into the Ethereum protocol, allowing L2s to inherit L1's security more fully and move away from reliance on security councils. In the end, L2s are not destined to replace L1 or be made obsolete by it. The likely future is a unified system where diverse execution environments—each optimized for specific use cases like DeFi, gaming, or privacy—coexist. They will share a common foundation of security, liquidity, and verifiable state, seamlessly connected to restore a cohesive user experience. The next phase for Ethereum is not just about scaling through separation, but about intelligently reintegrating what was separated back into a coherent whole.

链捕手42 хв тому

Long-Divided Must Unite, Long-United Must Divide: When L1 Becomes Its Own Rollup, What Is Ethereum's Endgame?

链捕手42 хв тому

Торгівля

Спот
活动图片