The Zcash community voted a new development fund

The Zcash community voted to create a new project development fund, consisting of 20% of the mining rewards. The miners continue to receive 80% of their income.

This arrangement will enter into force from November 2020 (block 1,046,400). The reward for miners will also be halved on the same occasion. The development fund will be distributed with 7% to the ECC, 5% to the Zcash Foundation and 8% to third parties that contribute significantly to Zcash’s progress.

According to the posting on the Electric Coin Company blog, grants representing 8% of the mining rewards will be awarded to those who contribute to the development of the project.

The Zcash community is waiting for the developers’ response

The new structure will be implemented in November 2020 if Zcash Foundation and Electric Coin Company – the main firm behind Zcash’s development – agree.

Unlike other projects that have encountered difficulties in obtaining the agreement of the miners and the community, Zcash has opted for extensive questionnaires. These have been applied by many methods, including Telegram and Twitter.

To go further, the Electric Coin Company and Zcash Foundation must complete the community-approved proposal. Then, the changes need to be coded to be implemented starting in November. The community will need to join the new upgrade by the end of 2020.

Launched in 2016, Zcash started with a founder reward, built to last until 2020. Currently, ZCash cryptocurrency is trading around $ 65.

According to its initial reward structure, Zcash currently pays 80% of its rewards to miners and 15% to founders, investors and other types. The remaining 5% is allocated to Electric Coin Company.