Overwinter is ready to become the first hard fork for Zcash. Its goal is to strengthen the existing protocol for future updates. Overwinter will occur on June 26, and it will activate at block 347.500, which will have 150 seconds/block speed. The update requires that all users update the existing software.
A hard fork will provide protection for playback for network updates and versioning, as well as performance improvements for transparent transactions. It’s presented as an intermediate step, which is designed to prepare the Zcash network for future updates. One such update planned for the end of this year is called Sapling, which should improve the scalability of the network.
On the Zcash website in an official statement, Overwinter already sees significant support among third parties, including Binance, Bitfinex, Poloniex, Gemini and others. A constantly updated list of third-party services that support the update is available in the ad.
How do I update?
Depending on whether you use a third-party service, such as a purse or an exchange, you may need to check with them if they support a new network update.
If you are using standalone zcashd software, make sure you use all updates. You don’t miss the update unless you run the entire site yourself, or if you intentionally configured the client to run the old code.
Users who have already updated their wallet, they don’t need to do anything to transfer money.
If you want to guarantee the full security of your funds, it’s better to refrain from performing operations near the activation of the network update. The Zcash team recommends that you refrain from doing this at least an hour before. Those transactions that were not mined before the hard fork, will have to follow it as soon as the update happens.
The whole point of Overwinter is that it doesn’t serve to switch the network to an existing Zcash mainnet. This is the way that will ensure the further acceptance of updates.