Zcash to modify its redistribution system for mining gains

While the Zcash Founder’s Reward expires soon, the community Zcash voted for the establishment of a new redistribution system of the mining awards aimed at continuing to support the development of the cryptocurrency.

Today, 80% of mining awards on the network Zcash are assigned to minors, the rest being shared between founders / investors (15%) and the Electric Coin Company (ECC) (5%), the entity that supports the development of Zcash cryptocurrency.

However, this redistribution mechanism, called Zcash Founder’s Reward, is scheduled to stop in November 2020. The Foundation Zcash then consulted his community to set up a new process allowing the ecosystem Zcash to continue to self-finance.

Although there was an agreement to no longer allocate funding to investors and founders, there was an open question about how future support and development for Zcash would be funded, ”wrote ECC.

Through a survey, the community Zcash has finally chosen to keep a redistribution of up to 20% of mining gains for the entities contributing to the development of the cryptocurrency, namely ECC (7%), the Zcash Foundation (5%) and one other fund (8%) that will support the efforts of third-party companies and developers.

The new system is expected to be adopted in next november following the shutdown of the famous Zcash Founder’s Reward.