The Electric Coin Company, a group that supports the development of Zcash (ZEC), announced the community has voted to distribute 20% of the ZEC network’s mining rewards to infrastructure and marketing development. The ZEC development funding proposal was initiated because the coin’s Founder’s Reward expires in November and after block 1,046,400, ZEC miners will only get 80% of the block subsidy.
Also read: Bitcoin.com Update: Dev Fund Proposal ‘Will Not Go Through’ Without More Agreement
Zcash Community Votes to Allocate 20% of the Block Rewards to the Zcash Foundation, Electric Coin Company, and Grants
Zcash is a digital currency that was released on October 28, 2016, and the project aims to enhance a ZEC user’s privacy. Similarly to BTC, zcash has a fixed supply of 21 million units but the currency also offers zero-knowledge proof transactions. While some ZEC transactions can be transparent, others can be “shielded” using a cryptographic element called zk-SNARKs. Last August, the creator of zcash and the CEO of Electric Coin…