On Sunday- 7Th April, Zcash (ZEC) has launched a new light wallet. This wallet is currently only available for the learning and demonstration. In the announcement the company called the wallet as ‘reference wallet.’ It can only be used on Android-based mobile devices. Sorry iOS, for now!
This wallet by Zcash (ZEC) is an open-source guide as well as an instructional wallet that helps in building a light wallet. Currently, the company hopes to receive feedback from third-party developers. This feedback should help the company to fine-tune any issues and loop-holes around the wallet, in order to come with a seamlessly functioning wallet. This will pave the way for the official light wallet for the mobile eventually.
Further, in the announcement, the company revealed that it created a successful wallet with just megabytes of data and mobile- suitable compensation. The company further added that the previously required gigabytes of information are now serving as just a small part. When it came to the vision of the company for the light wallet, the announcement read as-
“We call this wallet a “reference” because it is intended for learning and demonstrative purposes. It is a guide for the ecosystem rather than a competitor within it. At a recent Zcash meet up in San Francisco, a developer was delighted to learn that we actually wanted him to use the reference wallet as a blueprint.”
Going deeper into the construction of the light wallet, the blog article revealed that the reference wallet by Zcash ZEC is divided into smaller parts. These parts are- ‘Zcash Android SDK’, ‘Librustzcash,’ ‘Lightwalletd,’ and finally the ‘Zcash Android reference wallet.’ The ‘Zcash Android SDK’ is a lightweight SDK. IT is responsible for connecting android devices and Zcash. The second ‘Librustzcash’ is the “zcashd for the light clients,” as per the blog. Thirdly, the ‘Lightwalletd’ is responsible for transferring the blocks for the light client. It is a “stateless server.” The fourth part, i.e., the ‘Zcash Android reference wallet’ is an application as well as a resource that incorporates all the above parts. For more detailed information, you can read the announcement on the official blog of Zcash.
You may be wondering what the need for a ‘reference wallet was.’ Well, as per Zcash ZEC, the reason is simple. The aim of this launch of a reference wallet is purely instructive. As per the reports obtained from the online news source, the “main organizations involved in the making of the light client reference wallet is the Electric Coin Company.”
Since Zcash has only released an instructive version of the light wallet, therefore, currently it only works with Android devices and mobile developers, and only works on testnet. The expectation of the company behind this release of the reference wallet is to encourage open source development and innovations. It seems to be a wise move both as per technical reasons as well as marketing reasons to run a demo test of the reference wallet before fully diving into it. This may lead the company to get more and more adoption in the near future as the interaction with the users will build a sense of trust and mutual participation and valuing of suggestions.
Looking at the ZEC crypto’s current market performance, the market capitalization of the coin is 456,782,247 U.S Dollars and 87,366 BTC. In the past 24 hours, the volume of the crypto token has been 435,548,537 U.S Dollars and 83,305 BTC. The current circulating supply of the crypto token is 6,271,381 ZEC in the market.