Gemini has upgraded its Zcash operations to Zakura software, enhancing synchronization time and preparing for an upcoming network upgrade.
Gemini, the cryptocurrency exchange operated by Tyler and Cameron Winklevoss, has upgraded its software for Zcash operations to Zakura, significantly improving performance ahead of an upcoming network upgrade.
Improved Synchronization Times
The transition to Zakura has enabled Gemini to synchronize with the Zcash network in just over six hours, a drastic reduction from the nearly full day it took with the previous Zebra software. This improvement points to enhanced efficiency in updating the system after downtime.
In testing, Zakura demonstrated a synchronization capability of four hours and 20 minutes, compared to the almost 21 hours required by Zebra. The new software also allows for rapid online integration of new computers using recent data from the network, achieving speeds approximately 680 times faster than traditional methods.
Strategic Investments in Zcash
The Winklevoss twins' investment firm recently led a $59 million funding round for Cypherpunk Technologies, which is involved in Zcash mining and asset management. This includes a previous sale of a Zcash mining operation for $33 million, with Gemini managing the trading and custody of Cypherpunk's ZEC assets.
Implications for Trading
Every cryptocurrency exchange runs its own node for transaction processing. For Zcash, when users send ZEC to Gemini, the exchange must first verify the transaction before crediting accounts. If the node is unresponsive, this can delay the availability of funds for trading.
As Zcash prepares for its NU7 upgrade, which aims to cut block generation time from 75 seconds to 25 seconds, the need for efficient synchronization becomes even more critical. The NU7 upgrade is set to be tested on October 6, with the mainnet activation targeted for November 5. Gemini has yet to release performance results for Zakura under the new faster schedule, which could impact trading operations significantly.
