ECC CEO: Zcash funding scheme ZIP 1014 is a very good compromise

According to CoinDesk, the Zcash development company Electric Coin Company (ECC) and the Zcash Foundation have undergone a difficult governance update in 2019. ECC CEO and Zcash co-founder Zooko Wilcox sometimes described the process as "emotional pain", but eventually reached a consensus on approving the mining reward distribution scheme (ZIP 1014). He said that when you talk about funding public goods, the most important thing is to establish legitimacy in the process. Everyone in the community, who uses your agreement, is involved in the process of deciding these things. This (ZIP 1014) seems to be a very good compromise and still allows the ECC and ZCash Foundations to continue to receive funding, but it requires both organizations to adhere to fairly stringent accountability requirements. Wilcox wrote in mid-February that after some changes, ECC has reached a consensus with the Zcash Foundation on the approval of the Zcash improvement proposal ZIP 1014, which will be activated in the fourth network upgrade (NU 4) of Zcash and is expected to be implemented in It will start around November 16, 2020. The ZIP 1014 improvement proposal mainly involves a new mining reward allocation scheme: in the next 4 years, 80% of Zcash mining output will be allocated to miners, 5% to Zcash Foundation, 7% to ECC, and 8% to independent Third party to improve Zcash.