Zcash community votes to distribute 20% of mining rewards to support developers

The Zcash community has voted for a new method of distributing network mining rewards to support the development of privacy-oriented cryptocurrencies.

Based on public voting results, 20% of Zcash mining rewards will be allocated to development funds, while miners will receive 80%. The development fund will be distributed among multiple participants, Electric Coin Company will receive 7% of the mining reward, Zcash Foundation will receive 5% of the reward, and the remaining 8% will be used to donate to third-party developers.

If the Zcash Foundation and Electric Coin Company, the main company developed by Zcash, agree, the new reward structure will be implemented in November 2020.

According to the comparison data, Zcash is currently the 26th largest cryptocurrency by market capitalization.

In the past week, plans for the development fund of Bitcoin Cash, the fourth largest cryptocurrency by bitcoin, have been controversial. The CEO of Bitcoin Cash ’s largest mining pool BTC.TOP, Jiang Zhuoer, released the “Bitcoin Cash Infrastructure Financing Plan”, recommending that 12.5% ​​of Bitcoin Cash block rewards be used as a development fund to support the ecosystem, and established a Hong Kong Fund companies legally accept and dispose of funds.

According to the plan, this will be deployed in the update of the agreement in which Bitcoin Cash will take effect in May 2020. The fund will receive 112.5 Bitcoin Cash per day for 6 months, and will receive a total of $ 7.1 million per month. However, a blog post on the Bitcoin.com mining pool led by Roger Ver on Tuesday said the proposal was no longer supported.

Bitcoin.com said it will now work with the ecosystem to develop a new plan that "is profitable for all interested parties and retains the basic economics of Bitcoin Cash." It also said that, although some kind of financing plan is needed , But "cannot come at the expense of the basic goal of Bitcoin Cash".

Author Xiu MU This article is from bitpush.news. Please reprint the source.