Zcash Names Sets a $10,000 Annual Fee for One-Character Names

Zcash Names opened Early Access Thursday, Oct. 15, giving reservation holders the first chance to register payment names and setting a $10,000 annual charge for a one-character name. The service lets users send shielded Zcash (ZEC) payments with readable names instead of long wallet addresses. Shielded transfers can obscure who sent funds, who received them and the amount from public blockchain observers. The least expensive annual tier is $20 for names of six characters or longer. Permanent registration costs three times the annual rate. A 0.005 ZEC reservation puts a user in the registration queue. The waitlist had 10,802 names, including 973 paid reservations made since Aug. 18. The service also listed 1,564 names as protected from public registration to limit impersonation and name squatting.

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