Zcash project follow-up: Foundation announced to co-govern with ECC; Zcash will carry out Blossom hard fork in October

The development company ECC behind Zcash recently envisioned and introduced Zcash's long-term route. It was mentioned that initially, the implementation of ZIP (Zcash Optimization Proposal) was entirely dependent on ECC, and the Zcash Foundation was mainly a “grant organization”. Just last month, the Zcash Foundation announced that it will participate more actively with the ECC in the agreement development process, and both parties will participate in the governance project. Therefore, for the network upgrade that ECC plans to launch in April 2020, all ZIPs will be reviewed by two ZIP editors. When these protocols are approved, tested, and activated on the Zcash mainframe, Zcash will eventually have its second software (the client) to deploy the protocol, and all users who rely on the ECC Zcash implementation are called "zcashd." In addition to the ZIP process, the Zcash network is still preparing for the hard forked Blossom in October this year. Once the hard fork is activated, it will increase the block time and divide the network's 20% block reward tax into three fixed wallet addresses – one for the Zcash Foundation, one for the ECC strategic reserve, and the rest for payment To optimize the allocation of funds and ensure transparency. Zcash executive director Josh Cincinnati said the model for providing sustainable development funds through block incentive taxes has been replicated in other cryptocurrency projects, such as Beam.