Immediately’s launch represents one other child step towards our objective of creating Zashi an easy-to-use, all-in-one consumer interface for securely storing, spending, and sending ZEC.
We’re excited to ship forex conversion and TEX tackle assist in Zashi iOS 1.1.5. (We’re ending work on Zashi Android 1.1.6 with these updates and can launch it quickly.) These options are for Zcashers who need usability enhancements that don’t compromise their privateness and safety. Listed below are the small print.
Foreign money conversion
Foreign money conversion is a typical function in most crypto wallets, so if you end up asking, “What took so lengthy to implement it in Zashi?” we get it. And right here’s the reply: In different wallets, querying an trade or a number of exchanges for the worth of a coin will reveal the consumer’s IP tackle, and their curiosity in Zcash, to these exchanges. This data can then be tied to different promoting metadata, and it turns into one other information level in your common profile that’s getting used to surveil you on the web.
This privacy-for-convenience tradeoff is okay for lots of customers, however we all know Zcashers count on extra — and we do, too. So our engineers carried out a mechanism in Zashi to fetch forex trade charges from a number of verified sources over the Tor community in order to not leak the consumer’s IP tackle to these exchanges. No shortcuts relating to defending Zashi customers. To our data, Zashi is the one pockets that can shield your IP tackle throughout forex conversion, however we’re wanting ahead to different Zcash pockets builders adopting this innovation. 🙂
Proper now, Zashi’s forex conversion solely works for ZEC-USD. Different currencies can be added sooner or later.
The way it works: Alternate charges are displayed on the Account, Ship, and Balances screens. Zashi at all times triggers a refresh when a consumer navigates to the Ship display screen or relaunches the app, and the consumer can manually refresh the speed on the Account and Balances screens as soon as each two minutes by tapping on the $ charge button. Zashi by no means shows an trade charge older than quarter-hour.
Clear historical past
Zashi now helps recovering totally clear pockets historical past. Which means should you imported your seed phrase from a pockets that allowed you to create totally clear transactions up to now, these transactions will now seem in your Zashi pockets historical past.
TEX addresses
Does Zcash want one other tackle format? Prefer it or not, the reply is sure. Customers in numerous elements of the world have entry to completely different exchanges, and plenty of exchanges have distinctive guidelines and necessities. TEX addresses remedy accessibility and usefulness points for lots of of tens of millions of potential Zcashers.
TEX addresses are solely for exchanges (Zashi customers gained’t have a TEX tackle of their very own), and so they make it potential for Zashi and different wallets to ship shielded funds to an trade like Binance, which requires clear deposits.
First, some backstory. The trouble to construct TEXes began early in January when Binance, the world’s largest cryptocurrency trade, began requiring that each one deposit transactions be totally clear, i.e., the supply tackle is required to be seen to the trade. This provides Binance the data it must return funds to the depositor if the trade decides it doesn’t need to settle for the deposit.
A second motivator for this new function is that there are numerous exchanges that deal with Zcash as Bitcoin with solely slight changes to the code. However which means transactions with shielded parts are sometimes not supported (they aren’t parsed accurately) by these exchanges. In lots of instances, these exchanges can’t even detect transactions despatched from the shielded pool.
So when a consumer sends shielded ZEC, some exchanges can’t see the funds that had been despatched — both as a result of the trade isn’t set as much as acknowledge the transaction or as a result of, in Binance’s case, it chooses to not. In these instances, these funds can seem like misplaced. (The trade tackle controls the funds however can’t see them.)
TEX addresses remedy these points by introducing logic that basically creates an adapter, an ephemeral clear tackle, that shielded ZEC passes via earlier than arriving on the TEX tackle. So, to the trade, the transaction has all the data it must be recognizable, however the sender’s data akin to shielded tackle, historical past, and transaction data stays non-public.
With TEXes, Binance is completely happy as a result of the transaction during which they obtain the funds has a clear supply tackle, and the Zashi customers are completely happy as a result of they’re not revealing their supply of funds. Equally, within the case of the transactions which can be being mis-parsed, these exchanges will solely see a clear tackle and so there gained’t be any issues.
The way it works: When sending to a TEX tackle from Zashi, shielded funds cross via a clear tackle earlier than arriving on the trade. A brand new, never-seen-before and never-to-be-seen-again clear tackle is used for this intermediate step. Your Zashi pockets tackle and different particulars stay “disconnected” and due to this fact not seen to the trade or anybody else.
Notice: If Binance or any TEX tackle holder chooses to say no a deposit, there isn’t an computerized technique to re-shield the returned funds, regardless that they’re nonetheless managed by the Zashi pockets. ECC is engaged on an answer.
What’s subsequent for Zashi
Fast ECC priorities are launching the Coinbase Onramp and Flexa integration for immediate Zcash funds. These two releases, like at present’s launch, tackle real-world use instances and are prioritized in our roadmap as a result of Zashi customers have instructed us they need them. The whole lot we ship in Zashi is with one goal in thoughts: to make it the best and greatest method to make use of Zcash.
