- Main event, leadership changes, market impact, financial shifts, or expert insights.
- ECC team forms Zcash-focused startup cashZ.
- Zcash protocol remains unchanged despite organizational shift.
Former Electric Coin Company team members, led by Josh Swihart, have left to start a new venture called "cashZ," focusing on Zcash development.
Their decision highlights governance disagreements with ECC's nonprofit owner, aiming for a more scalable business model without affecting the Zcash protocol or launching new coins.
The former Electric Coin Company (ECC) team behind the Zcash wallet Zashi exits ECC to establish a new startup called cashZ. This move comes amid efforts to enhance organizational focus on Zcash development.
Led by Josh Swihart, the new company retains the original team from ECC, which developed both Zcash and the Zashi wallet. They aim to continue with Zcash’s full-stack development while launching the new cashZ wallet without any protocol changes.
The Zcash protocol and its digital asset, ZEC, remain unaffected by this organizational change. The pivot reflects ongoing efforts to strengthen Zcash’s development capabilities outside of ECC’s nonprofit structure.
By establishing cashZ, leadership cites a need for scalability and agility, often lacking in nonprofit frameworks. Josh Swihart highlighted this need, saying:
"To scale Zcash to billions, we needed a startup structure. Startups can scale, but nonprofits cannot. That is why we left and started a new Zcash-focused company."
This strategic shift aims to ensure continuity in Zcash's innovative development and enhanced team execution within a startup environment.
Go-to-market strategies and community engagement are key within cashZ's new structure. The emphasis on startup agility is expected to bolster Zcash development activities, especially given the underlying tech team's historical expertise.
Insights suggest that aligning with startup dynamics may attract new funding and partnerships, potentially impacting Zcash’s technological roadmap. Historical trends indicate previous spinouts have led to greater innovation, though financial impacts remain to be seen.