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Ify Egede
May 17, 2022
by Ify Egede

Charles Hoskinson Commends the Release of Network 5.0.0

Network 5.0.0
Charles Hoskinson commends Z-Cash for their latest innovative roll-up in the industry as they release the Network 5.0.0. The NU5's mainnet initiation will take place on May 31st. It will occur at a block level of 1687104 after they halt their 4.6.0-2 and 4.7.0 releases on May 16th. Zcash's most significant network improvement is launching Orchard's protected payment protocol. 

It will remove the reliance on complicated setup procedures. Digital cash payments are now available for the first time with this upgrade's efficiency. With Halo, it will open the door to improved interoperability to private cross-chain proofs to get unlocked at scale.

NU5 Preparedness

External security audits by NCC and QEDIT have been part of the upgrade's thorough review process, including a detailed specification evaluation. Additionally, Mary Maller reviewed the Halo 2 security evidence and protocol, finding no problems with its security. ECC will address Mary's observations and recommendations in the coming weeks. 

On broadened PLONK-based protocols, it's the first formal proof provided for the polynomial dedication scheme. It depends on the internal product justification and the first zero-knowledge demonstration for a generic PLONK-based policy. There has been a second round of the Orchard network, Halo2 libraries, and agreement logic testing in NU5 of Version 5.0.0. ECC Core and Security technical staff will be carrying out the tests.

Changes in Network Version 5.0.0

According to reports, the NU5 network upgrade will be live on the mainnet on May 31st. Since that's when the 5.0.0 version will allow an activation altitude of 1687104. As a result of the NU5 network update, it is necessary to use this launch or a later version.

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Charles Hoskinson Network 5.0.0 NU5 network upgrade
Charles Hoskinson Commends the Release of Network 5.0.0
Ify Egede
Ify is an experienced and versatile writer and researcher. He has have keen interest in blockchain technology, Bitcoin, cryptocurrencies, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.

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