YCASH-Your local community. Your loved ones. Your money.
Ycash is a new digital currency that aspires to empower local communities to take control over the money that they earn, spend, and save.
Ycash is live! At block height 570,000 of the Zcash blockchain (July 18th), Ycash forked away from Zcash. Learn more about the fork.
YecWallet is the offical Ycash wallet of the Ycash Foundation. YecWallet allows you to store, send, and receive Ycash.
For most users, YecWallet is the easiest way to join the Ycash network. (YecWallet includes a copy of ycashd, and will take care of configuring ycashd for you!)
ycashd is the official Ycash node implementation of the Ycash Foundation.
Advanced users can choose to configure ycashd directly, and optionally use YecWallet with it.
BitTorrent Blockchain Download
If you encounter problems while syncing over the peer-to-peer network, try obtaining the blockchain via BitTorrent:
Ycash is a digital currency, like Bitcoin or Zcash.
In fact, the software for Ycash is based on the software for Zcash, which in turn is based the software for Bitcoin.
Like Bitcoin and Zcash, the total supply of Ycash is forever capped a 21 million coins. So, unlike government-issued paper cash, you never have to worry about inflation devaluing your Ycash.
Ycash also shares something else in common with Zcash: shared blockchain history. The first 570,000 blocks of the Ycash blockchain are the same as the first 570,000 blocks of the Zcash blockchain. That means that everyone in control of Zcash private keys as of block height 570,000 (around July 18, 2019) will be able to use those private keys to access the same amount of Ycash. So, those that currently have a vested interest in the future of Zcash (by holding Zcash) automatically have a vested interest in the future of Ycash.
Bitcoin is truly revolutionary, but it suffers from several problems, including the following two key problems:
- The Privacy Problem. Bitcoin lacks privacy. The whole world can see all of your transactions.
- The Distribution Problem. The ongoing initial distribution of bitcoin (via “mining”) is dominated by manufacturers of specialized computer hardware and their business partners.
Zcash improved upon Bitcoin by implementing a revolutionary solution to The Privacy Problem. But The Distribution Problem remains.
By building upon the Zcash codebase, Ycash leverages Zcash’s solution to The Privacy Problem. And by aggressively pursuing mining on commodity hardware by all available means, including periodic changes to Ycash’s mining algorithm, Ycash aims to address The Distribution Problem.
We believe that addressing The Distribution Problem is necessary for a digital currency to achieve widespread, grassroots adoption. As one engineer working on Ycash put it, if the mining process is largely controlled by specialized hardware created by a far-off foreign manufacturer, the coin seems “distant”. Mining is an important way for users to participate in a digital currency’s community, and mining on commodity hardware opens up the mining process up to a much larger group of users.
Another key component of Ycash’s approach to addressing The Distribution Problem is upholding a promise that originated from Zcash: that 90% of the coins would be distributed via the mining process. The structure of the Ycash Development Fund upholds that promise: With 5% of the coins starting at block height 570,000 going to the Ycash Development Fund (managed by the nonprofit Ycash Foundation), 90% of the total 21 million Ycash coins will be allocated via the free market mining process.
But there are several other coins that also build upon the Zcash codebase and are also trying to address The Distribution Problem; what makes Ycash different?
The answer goes back to Ycash’s shared blockchain history with Zcash. Ycash is the only coin that is also a chain fork of Zcash. So, not only does Ycash build upon the codebase of Zcash like many other coins, it also uniquely builds upon Zcash’s blockchain too. Therefore, the Zcash community, including the world-class engineers and cryptographers at the Electric Coin Company, have a vested interest in Ycash’s success (to the extent that those individuals hold Zcash at the time of the Zcash/Ycash split).
Ycash is standing on the shoulders of two giants: Bitcoin and Zcash. We will aggressively compete with both (and all other digital curren
cies) for user and merchant adoption.
The Ycash/Zcash fork will occur at block height 570,000 of the Zcash blockchain (approximately July 18, 2019).
This page focuses on the mechanics of the fork. For the motivations behind the fork, see “Announcing Ycash, The First “Friendly Fork” of the Zcash Blockchain” (2019-04-11).
Key Changes at Launch
At launch, Ycash implements the following key changes to Zcash:
- The mining algorithm is changed from Equihash(200,9) to Equihash(192,7).
- The Zcash Founders Reward rate is reduced from 20% to a perpetual 5%, with the entirety going to the nonprofit Ycash Foundation. The Zcash Founders Reward is renamed the Ycash Development Fund.
- In order to eliminate confusion between Ycash and Zcash going forward, the address formats are changed (as described in the next section).
Ycash Address Formats
Ycash uses different address formats than Zcash, making it impossible to accidentally send Zcash to a Ycash address (or Ycash to a Zcash address).
- Transparent addresses start with “s1” instead of “t1”.
- Multisig addresses start with “s3” instead of “t3”.
- Shielded sprout addresses start with “yc” instead of “zc”.
- Shield sapling addresses start with “ys” instead of “zs”.
Two-Way Replay Protection
Replay attacks involve an attacker using a publicly broadcasted transaction on one chain to perform an unauthorized transaction on another chain.
Ycash utilizes the two-way replay protection built in to Zcash’s upgrade mechanism (first introduced in Zcash’s Overwinter upgrade). Therefore, users and exchanges need not worry about replay attacks.
Official Wallet of Ycash Foundation
YecWallet (Full node wallet for Mac, Linux, and Windows)
Third Party Wallets
SafePay (Multi-asset mobile wallet for iPhone, Android, and the web)
Accessing Your Ycash
Importing Zcash Private Keys into YecWallet
In YecWallet, click on the File menu and choose “Import private key”. You’ll be prompted to input your private keys, each private key on a separate line.
Exporting Zcash Private Keys from Zcash Wallets
Make sure that your Zcash wallet allows you to export private keys. (If not, you will not be able to access your Ycash.) Follow the instructions provided by your ZCash wallet.
If you are using ZecWallet, click on the File menu and choose “Export all private keys”.
No hardware wallet has announced native support for Ycash. For a discussion of possible options, see this discussion on Reddit.
Mining at Launch
For a complete list of Ycash pools see these well-maintained lists:
Several different GPU mining software packages support Equihash(192,7), including:
- Gminer (Nvidia/AMD) (Linux/Windows) (mandatory 2% dev fee)
- EWBF’s Cuda Equihash Miner (Nvidia) (Linux/Windows) (optional dev fee, 2% by default)
- miniZ (Nvidia) (Linux/Windows) (mandatory 2% dev fee)
- Optiminer/Zero (Nvida 8GB/AMD 4GB and 8GB) (Linux/Windows) (mandatory 2.5% dev fee)
- lolMiner (AMD) (Linux/Windows) (mandatory 1% dev fee)
(If this list is incomplete, contact info at ycash dot xyz and let us know.)
The Ycash Foundation continues to apply to several exchanges. The following exchanges have pledged to support Ycash. Note that the Ycash foundation does not endorse any exchange. Users should perform their own due diligence.