Zcash Dev Team Quits ECC, Plans New Firm Amid Governance Clash
4.8 Crypto The Zcash development team resigned from ECC over governance disputes, citing misalignment and changes to employment terms. They plan to form a new company, while Zcash's protocol remains unaffected.
The entire development team behind Zcash has resigned from the Electric Coin Company (ECC) following a governance dispute with Bootstrap, the nonprofit overseeing ECC. The team cited changes to employment terms and misalignment with the mission of Zcash as reasons for their departure, describing the situation as a constructive discharge. Despite the mass resignation, assurances were given that the Zcash protocol's technical operations, security, and privacy remain unaffected. The former ECC team plans to form a new, independent company to continue work on privacy-preserving digital money. The dispute has raised questions about the future direction and management of Zcash, especially regarding the development fund and governance structure. The ZEC token experienced a price drop of about 7% amid the crisis but partially recovered. The Zcash codebase remains open source and permissionless, allowing the network to continue operating despite internal challenges.
