Zcash is organizing a major token holder vote from August 25 to September 12 to decide on the direction of the upcoming NU7 network upgrade. The vote will only be valid if at least 1 million ZEC participates, with a snapshot scheduled for August 24 at 19:00 UTC. The five topics submitted for vote include replacing traditional halvings with a smoothed emission curve under the Network Sustainability Mechanism, deprecating the Sprout format, and reducing block time from 75 to 25 seconds. The voting infrastructure relies on a Tokenholder Voting Chain certified by at least 10 validators, with two-thirds required to approve the tally. ZEC is currently trading above its 20, 50 and 100-day moving averages, having recently reclaimed the psychologically important $500 level.
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