Electric Coin Company June 2020 Newsletter

ECC Wallet source code released

Earlier this month, as promised, ECC released the source code for prototype wallet applications built on our SDKs. These are reference implementations for fully-functional, shielded-only, Android- and iOS-native applications.

We view this as a significant milestone in our efforts to increase shielded-address adoption, improve user experience and empower economic freedom. As these wallets are reference implementations, the apps themselves will not be available on any app store, but the code is open source and available to everyone.

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Zcash Developer Alliance launched

The Zcash Developer Alliance is an invite-only working group whose mission is to advance Zcash development and interoperability. ECC established the group, which includes Agoric, Bolt Labs, ConsenSys, Iqlusion, Kyber and Thesis.

For the inaugural year, the ZDA will focus on interoperability by building cross-chain bridges connecting Zcash to protocols like Ethereum and Cosmos.

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Two more network upgrades coming this year

Heartwood, the next major Zcash network upgrade (NU3), will activate in July at block 903,000. It improves interoperability through Flyclient support and gives miners the option to immediately shield mining rewards in coinbase transactions.

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Canopy (NU4) will activate in November at block 1,046,400, the Zcash halvening. At this time, the block reward (or the number of ZEC issued every 75 seconds) will drop by half, from 6.25 to 3.125, for the next four years. The primary impetus for this upgrade is to implement protocol and consensus-level changes related to the advent of the Zcash Development Fund. This includes funding streams, consensus rules and other dev-fund-related features, plus other ZIPs.

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Zcash governance and how we got here, explained

In November 2020, Zcash governance will change. Here’s the story of how community leadership rallied, vetted and established a new Zcash development fund through 2024.

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MGRC application period is open

The largest slice — 8 percent — of the new Zcash development fund will be managed by a Major Grant Review Committee (MGRC), which will evaluate and steward third-party development efforts over the next four years. The Zcash Foundation opened the MGRC-member application period April 15, with a deadline of Sept. 1. More information and timeline at the link below.

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ECC signs blockchain bill of rights

ECC is proud to support the Presidio Principles, a World Economic Forum initiative that aligns with our commitment to empowering economic freedom and high standards of user consent, security, and organizational transparency.

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Zcash adoption grows

The network of Zcash-friendly partners and platforms continues to grow. So far, in Q2 2020, we’ve announced new relationships, capabilities or integrations with the following:

  • Gemini launched Gemini Pay allowing users to spend Zcash at over 30,000 retail locations.
  • Binance added Zcash to Binance Savings so users can earn interest on their Zcash holdings.
  • Transak, MoonPay and Indacoin added or expanded support for Zcash fiat on-ramps. OkEx and Huobi added Zcash perpetual swaps.
  • Chainalysis added Zcash support to its compliance platform.
  • Human Rights Foundation added shielded Zcash support to its donation page.
  • Reciprocity Trading added support for Zcash trading.

Q2 ECC livestream available

Our latest livestream covers adoption strategy, NU4 updates, FlyClient, Viewing Keys, Hackathon info and more.

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