Zcash Team Transitions Amid Governance Dispute; New Wallet Announced

Zcash Team Restructuring

The Electric Coin Company (ECC), known for its development of Zcash, has exited its previous organizational structure due to governance disagreements with the nonprofit Bootstrap. Despite these changes, Zcash's development continues with the introduction of a new wallet.

Key Developments

• The ECC team, led by former CEO Josh Swihart, left after a governance dispute with Bootstrap, which oversees Zcash's ecosystem.
• A new Zcash-focused company is being formed, dedicated to advancing Zcash's development.
• A new wallet, based on the Zashi codebase and code-named cashZ, is set to launch, aiming to expand Zcash's global reach.

Swihart announced the wallet rollout, emphasizing that existing Zashi users can transition seamlessly to the new platform. A waitlist is now available.

The team remains committed to Zcash without introducing a new token, ensuring that the protocol remains stable despite recent changes. The ZEC token experienced volatility but showed signs of recovery.