Great to see some positive news about this and bravo to the team for how they handled this matter.
i say we should delist ourselves from Binance,
wtf they are doing us a favor???
and then build BlackBinance(.Onion on Arti!
I think your idea of building a ~not~Binance Onion on Arti is interesting. You should pursue it. Build the Zcash you would like to see in the future.
Once again, Thanks to all who put in the work to reach a solution with Binance!
The delistings were announced today and they’re having significant impacts on many project valuations.
Monero
Multi
We might not love KYC-AML, and playing ball with the world’s biggest CEX, but as a practical matter - it is in Zcash’s best interest to remain as acessible to as many people as possible. Delistings cause significant damage to accessibility.
This is the only positive aspect of the t-addresses. CEX liquidity.
Update: I want to provide an update on where things stand with Binance and the implementation of the new address type:
-
We have communicated our preference for the Unified Address option (as opposed to the TEX Address option) to Binance and have not received a response. We are prepared to address any questions or concerns they might raise and expect to resolve them without difficulty.
-
Kris and Daira have published a draft specification of the Unified Address option and will finalize it based on community agreement. They are preparing parsing and encoding libraries for JavaScript and Rust, with anticipated library releases and Wallet SDK integration by mid-February.
-
Hanh has documented the necessary standard encodings for wallets, exchanges, and other partners to generate TEX addresses, in case Binance or a considerable number of our partners express a preference for this option.
-
Pacu is proactively reaching out to a few exchange and wallet partners to inform them of the upcoming change and gauge their preference between the two address options. We expect to gather their feedback by the end of this week.
-
Additionally, Pacu and I are compiling a contact list for all wallets, exchanges, and payment networks that will need to implement this update.
We will continue to keep the community informed with periodic updates as things progress.
For full disclosure, I prefer the Tex address option because it is easier to implement (imo).
I prefer the version that will not add vulnerabilities in the protocol.
There are no changes made to the protocol in both options.
Thanks, it’s only at wallet level then?
id prefer the universal address if possible since that seems to be more future proof.
Again, proud of the way the Zcash Community handled this issue.
One thing we always need to remember in crypto is things can always be worse. We may be down today, we may be headed towards $10, but I believe our long-term plan and prospects are sound.
I feel very proud of all your efforts, I feel that I was lucky to find you, Zcash has a future and will soon be more widely adopted. time only shows that we are on the right path.
That’s correct.
I never told anyone, but at the time I bought my first Zcash on binance, I dreamed about Zcash. In the dream she was adopted worldwide and her value rose exponentially. In my opinion, Zcash is a safe currency and far superior to fiat money, even more so now with virtual currencies from central banks that will give maximum power to the government. I feel more and more secure with Zcash, the government may know I have Zcash, they may charge me fees, but they will never get their hands on my Zcash.
what is TEX address and why do we need it to transfer ZEC. why do wallets need update?
is this not the same address type as previously? visible address of Zec?
All of the discussion to answer this question is upthread, but it has been summarized and formalized in ZIP 320: Defining an Address Type to which funds can only be sent from Transparent Addresses
How is the project progressing? any news about binance?
I can provide a quick update: Following feedback from Binance, we’ve chosen to implement the TEX Address option over the Unified Address option. Kris and Daira are finalizing the parsing logic and revising the ZIP 320 specification accordingly.
We’re planning to start rolling out this update to wallets, exchanges, and our SDKs beginning in March. The precise timeline for the rollout is still being finalized. We will provide a more detailed update with additional information in early mid March.
Thank you, @aquietinvestor, your efforts are truly appreciated by everyone here.