Los Angeles, CA -- (SBWIRE) -- 09/20/2019 -- At block height of 570,000, Ycash has launched and is live as the first ever "friendly fork" of the Zcash Blockchain. Users can now join and become a part of it. As Ycash is a Zcash fork, everyone that is holding Zcash will receive an exact amount of Ycash.
Users of Ycash will also have access to YecWallet, which is the official Ycash wallet. YecWallet is a y-Addr first, sapling compatible (shielded support) wallet and full node for Ycash that runs on Linux, Windows and macOS. One can download and read up on the various changes that have occurred in recent YecWallet releases by visiting this link.
To claim Ycash, users will have to visit their official website through the following link. The process involves exporting Zcash private keys from Zcash wallets. Then, the keys are imported into YecWallet. The process is explained in detail on the official Ycash website.
The main goal behind Ycash is the restoration of mining on commodity hardware. This has largely been abandoned in the Zcash blockchain. With the launch of Ycash, the developers also plan on upholding the promise of forever capping Founders Reward of the Zcash at 2.1 million coins. They believe that by maintaining both mining on commodity hardware and the promised cap, a fair distribution of coins will be achieved.
At launch, Ycash will implement certain changes. Among these is the reduction of the 20% Founders reward rate to a perpetual 5%. Ycash will also be directing the remaining Founders Reward in its entirety to a nonprofit called Ycash Foundation. They also plan on implementing a third change sometime later in the year that deals with the algorithm of commodity hardware. Their ultimate goal is to combine the strengths of the Zcash platform into Ycash as well, with diverges in areas of disagreement. One can get started by visiting the following links:
YecWallet Download URL: https://ycash.wiki/download-yec-wallet
How to Claim Ycash URL: https://ycash.wiki/how-to-claim-ycash
At block height 570,000 of the Zcash, Ycash is the first "Friendly Fork" of the Zcash blockchain. Because Ycash is a chain fork of Zcash, everyone holding Zcash at the time of the fork will receive the exact same amount of Ycash. To ensure users get their Ycash, they must possess Zcash private keys. Along with the blockchain fork, ZecWallet will also be forked to support Ycash, under the name YecWallet. Official builds for all supported platforms will be provided. The nonprofit Ycash Foundation is in the process of being formed and will be the owner and steward of the Ycash trademark. Trademark registration is currently pending in the United States, with registrations in additional jurisdictions to follow.
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Cassandra Cillian