Zcash Launches New Development Fund: 8% Block Rewards for ZCG

 Leading privacy project Electric Coin has just announced the results of a Zcash community vote that approved the launch of a new development funding model in November. This “hybrid deferred” development funding model aims to make Zcash more decentralized, inclusive, and robust in the long term.

Fund Flow to Zcash Community Grant Organization

In this new model, 8% of block rewards will continue to flow to the Zcash Community Grant Organization (ZCG). Meanwhile, Electric Coin Co. (ECC) and Zcash Foundation (ZF) will not receive funds directly from block rewards anymore. Their previous funding shares of 7% and 5% respectively will be locked in for future decentralized grants.

One Year Implementation and Zcash Community Engagement

This model will be implemented for an initial period of one year, during which time the community will have the opportunity to determine whether any adjustments need to be made or how to design the indirect funding model going forward. This approach aims to ensure that Zcash remains relevant and responsive to the needs and aspirations of its community.

Leadership Change and New Hope for Zcash

The move is part of ongoing efforts to strengthen the decentralization of Zcash, a project known for its focus on privacy and security of crypto transactions. By moving funding flows from ECC and ZF to ZCG, the community hopes to increase transparency and involvement in project management and development.

Zcash's Contribution to Development and Innovation

The latest news regarding Zcash also includes the resignation of the Zcash founder from the CEO position at Electric Coin, although he remains a director at the parent company. This leadership change is not expected to affect the positive momentum and innovation underway in the Zcash project.

A New Phase in Zcash's Decentralization Journey

With these changes, Zcash is committed to making greater contributions to the community through more inclusive and decentralized funding. It is hoped that a more strategic and targeted use of funds can support sustainable and innovative development, strengthen the Zcash ecosystem and increase its adoption and utilization globally.

Hope for the Future of Zcash

Through this new funding model, Zcash not only prioritizes privacy and security but also strives to create a fairer and more participatory environment for all stakeholders. It is hoped that the Zcash community can take advantage of this opportunity to contribute and play an active role in the evolution of this growing crypto project.

With the launch of this development model in November, Zcash will enter a new phase in its decentralization journey, bringing new hope to the community and the crypto industry in general.