Gemini has changed the software running its Zcash systems ahead of a planned network upgrade that would cut block times from 75 seconds to 25 seconds.
The exchange now uses Zakura, a program that follows the Zcash network and verifies its transaction history. Gemini said Tuesday that, in its deployments, Zakura caught up with the latest block in a little over six hours. The previous setup, based on Zebra, took close to a day.
A software change before Zcash’s next upgrade
The switch comes before Zcash’s planned NU7 upgrade. If activated as planned, the change would reduce the interval between new blocks from 75 seconds to 25 seconds, meaning computers following the network would need to receive and validate new batches of transactions three times as often.
Developers are targeting Nov. 5 for the mainnet upgrade. Gemini, however, has not published tests showing how Zakura performs under that faster block schedule.
The six-hour figure refers to how quickly a machine can catch up after starting fresh or falling behind the network. Zakura’s developers published a separate test showing a sync time of 4 hours and 20 minutes, versus nearly 21 hours for Zebra.
They also offer a saved copy of recent network data that can bring a replacement machine online without downloading Zcash’s full history from the beginning. In their test, that method was about 680 times faster than a standard sync.
Why exchange users care
Every exchange that lists a cryptocurrency runs its own computer to follow that chain. When someone sends ZEC to Gemini, the funds do not become tradable immediately. Gemini’s system first has to detect the payment on Zcash and verify it before the customer balance is credited.
If that machine crashes or falls behind, coins can arrive on-chain while the user’s exchange balance still shows nothing. Exchanges typically pause deposits and withdrawals for that asset until the node catches up. The length of that pause depends heavily on how fast a replacement system can rebuild its copy of the network.
Zcash’s upcoming NU7 upgrade would make that job more demanding by shortening block intervals from 75 seconds to 25 seconds. Developers are targeting Nov. 5 for the change.
Gemini has not published any test results for the new setup under NU7’s faster cadence. The upgrade is scheduled to reach the Zcash testnet on Oct. 6, and developers plan to decide on the Nov. 5 mainnet activation after reviewing those results.
Winklevoss ties to Zcash extend beyond Gemini
Gemini is controlled by Cameron and Tyler Winklevoss, and the article notes that their involvement with Zcash goes beyond the exchange itself.
Their investment firm led a $59 million financing round for Cypherpunk Technologies, a publicly traded company that holds and mines ZEC. In August, a Winklevoss affiliate sold Cypherpunk a Zcash mining fleet for $33 million. Cypherpunk has also said Gemini handles trading and custody for its ZEC holdings.