The ZenCash (ZEN) network is anticipated to launch on May 23rd at 5pm PDT (0:00 UTC) as a hard fork from Zclassic (ZCL). Bittrex users will be credited 1 ZEN for each Zclassic (ZCL) held in their exchange accounts at Zclassic block 110,000. The block is estimated to occur at approximately 14:10 EDT (18:10 UTC) 5/18/2017. [Times updated, ref: block explorer!]
Bittrex will credit the ZEN tokens and enable the market when we and the ZEN team agree the new proof of work mining network is stable. The ZCL market will be re-enabled and all orders cancelled within 24 hours after the fork block.
Note: Bittrex will be closing our ZCL wallet and market within two hours of the fork block to take accurate snapshots of balances. If your deposits are not settled (e.g. marked as pending) by 21:00 PDT 5/17/2017, you may not be credited with ZEN.
Please note that the full 3 day gap between block 110,000 and the May 23rd launch will be used to generate and distribute the ZenCash genesis block, which importantly implements replay attack mitigation in the new client release.
We would like to thank the ZEN team for working closely with us and addressing our concerns. Distribution through hard forks like this one are not typically supported by Bittrex but strong replay protection and a commitment by both teams to maintain the ZCL and ZEN forks and their independent missions swayed our decision making.
The Zen team has put out a detailed description of the process:
For more information on ZenCash and the Zen Platform, you can visit https://www.horizen.io/ and read the white paper. <–insert hyperlink: https://www.horizen.io/assets/files/Zen-White-Paper.pdf
This support from the Zclassic and now ZenCash leading exchange partner is a wonderful show of support.
This means everyone who deposits their Zclassic or purchases Zclassic on the Bittrex exchange two hours before the fork at block 110,000 will be credited with ZenCash on the Bittrex exchange.
And from the statement, it appears trading on the Bittrex exchange with ZenCash will be enabled sometime after the launch on May 23, when Bittrex feels the proof of work network is stable and will support trading. This means the sooner the ZenCash miners and pool operators get all their systems going (after the launch) with a nice big hashrate the sooner ZenCash trading on the exchange will open.
Zen is a system of products, services, and businesses built around an enabling technology stack employing zero-knowledge proofs and a core set of beliefs.
As a distributed blockchain system leveraging the latest censorship-evading techniques, fully encrypted communications, and a social and governance model designed for long term viability, Zen will contribute to the human right to privacy and provide the necessary networking infrastructure for people to securely collaborate within a borderless ecosystem.
The launch of ZenCash will take place on May 23rd in New York City to correspond with CoinDesk’s Consensus event.
Subscribe to our mailing list (see link upper right part of page) to engage with the Zen Community and receive early bird perks. Stay tuned for our white paper; should be released any day now!
Find out more about ZenCash here:
ZenCash Slack Invite
ZenCash on Bitcointalk
ZenCash YouTube Channel
ZenCash Facebook Page
ZenCash Blog on Medium
ZenCash on Twitter
ZenCash on Github
Also published on Medium.