Zcash community votes to allocate 20% of network mining rewards to support development
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
The Zcash community has voted on a new methodology for distributing network mining rewards to support the development of the privacy-oriented cryptocurrency.
Per the voting decision, 20% of the Zcash mining rewards will be allocated to a development fund, while miners will get 80% as of block 1,046,400.
The development funds will be distributed among different parties. Electric Coin Company will get 7% of mining rewards, the Zcash Foundation will get 5% and the rest 8% will be used for grants to third-party developers.
The new rewarding structure would get implemented in November 2020 if the Zcash Foundation and Electric Coin Company – the main firm behind Zcash’s development – agree to go ahead with it.
AUTHOR
Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.
See More
