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21 October 2020

Zcash's Electric Coin Company Shifts to Non-Profit Status Following Stockholder Vote - CoinDesk

Zcash's Electric Coin Company Shifts to Non-Profit Status Following Stockholder Vote - CoinDesk


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The ECC will continue operating under the same business structure, with Bootstrap acting as an umbrella firm of sorts.

The ECC’s portion of future mining revenues will increase to 7% under Canopy, as agreed upon in February’s Zcash Improvement Proposal (ZIP) 1014.

Yet at a higher level, the donation will allow the ECC to more fully embrace a central plank in ZIP 1014 – that of all future mining revenue furthering zcash’s potential as an asset, and not enriching founders or early investors. Those involved in the project’s 2016 launch garnered 15% of mining revenue under the old scheme.

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