Electric Coin Company 2020Q1 Newsletter

Dev fund approved, grants 8% of issuance to other independent parties

Electric Coin Co. (ECC) and Zcash Foundation announced joint approval of the community’s proposal to fund Zcash development for an additional four years.

Starting at NU4 activation in November 2020, 80% of the Zcash issuance will go to miners, 8% to independent third-party developers, 7% to the Electric Coin Co. and 5% to the Zcash Foundation.

Since January 2019, the community has been actively discussing what to do about the eventual sunsetting of Zcash development funding, and through a series of polling, this consensus plan emerged and was validated.

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ECC to open source shielded mobile wallets

ECC will open source its shielded mobile wallet code — both for Android and iOS — in Q2. The wallets are built to be newbie-friendly, super fast and shielded-transaction-ready.

Click here for more details from last week’s livestream.

ECC partners with community activist in Turkey

In line with our efforts to empower economic freedom and opportunity, ECC recently partnered with Moe Ghashim to educate Syrian refugees living in Turkey about the value of cryptocurrency in the process of rebuilding communities and lives. Read more about Moe’s work.

Monthly Zcash community call series continues tomorrow

Our next Zeal Community Call will take place tomorrow, Feb. 25 at 1 pm EST. The conversation will focus on two topics: major grants for Zcash development and a spotlight on Tor Project. Major grants have been top of mind for community members, given the recent dev fund conversation and polling results. Tor recently got a Zcash Foundation grant and will discuss how these funds will advance their important work.

The Zeal Call series — which kicked off Jan. 28 — covers a range of topics, such as governance, grant support and technical AMAs.

Read more | Join the call

Join the conversation!

ECC Releases Transparency Report to detail income and expenses for Q219

Highlights include:

  • As a result of a budget deficit and some market uncertainty, ECC approached Founders Reward recipients to request dilution. This would allow additional funds to be allocated to ECC, for continued operations and investment in Zcash R&D, engineering, regulatory engagement, adoption and demand generation. The dilution was approved and was implemented in June. Details of ECC activities for the quarter are provided within this report.
  • ECC received approximately $634,000 per month in April and May and $1,110,000 in June, based on the average closing coin price of $78.
  • At the end of Q2, the company held approximately $7.35M in USD and ZEC. Primarily due to the decline in the price of ZEC since the end of June, ECC’s current holdings are approximately $4.4M in USD and ZEC.

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Manian joins ECC Technical Advisory Board

Zaki Manian, a prolific contributor in the blockchain space, has joined the ECC technical advisory board. Manian has deep expertise in cryptography and distributed consensus systems; serves as executive director of Trusted IoT Alliance; and is an advisor to Cosmos, Tendermint, and several other investment funds and startups in the space.

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Latest ECC livestream available

The recent Q1 2020 Livestream can be viewed at the link below. Topics include: ECC’s focus in 2020, R&D and engineering flight plans (including Halo and wallet work), community program updates, and more.

View the livestream

Community conversations

In addition to the usual spaces for up-to-date Zcash information, like Twitter and Blockfolio, the Zcash community is having active conversations on a number of forums and chat channels.

Check them out here:
Zcash Community Forum

Privacy narratives

Part of ECC’s efforts over the coming months will focus on elevating privacy narratives, — both within the crypto space and across a broader set of communities. Our goal is to partner with other like minded organizations and create a universal expectation of privacy, especially with regard to financial data. Campaigns and tactics will focus on key concepts, like freedom, dignity, security and consent.

Click here for more details from last week’s livestream.

Zcash on Coinbase and Huobi

Zcash ($ZEC) was approved for trading by the New York Department of Financial Services and is now available to New York residents at Coinbase.com and in the Coinbase iOS and Android apps. In addition, the Singapore-based Huobi Global announced ZEC/HUSD spot trading, which provides additional options for the Zcash community on one of the largest exchanges in Asia.

Find an exchange