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Zcash miners will give 20% of their revenue to support developers

Zcash miners will give 20% of their revenue to support developers

The community of the anonymous cryptocurrency Zcash voted for a new method of distributing rewards for mining – part of the revenue will be directed to support the developers of the coin.

Starting from block 1,046,400, miners will receive only 80% of the mining reward, and 20% will be transferred to the coin developers. In addition, various community members will receive funds from the General support Fund. At the same time, 7% of the Fund’s income will be transferred to the Electric Coin Company (ECC), 5% will be received by the Zcash Foundation, and another 8% will be used to pay grants to third-party developers.

The new method of distributing rewards for mining will come into force in November this year. However, although the community has already voted for the method, it still needs to get approval from the Zcash Foundation and ECC, which is the main developer of The zcash cryptocurrency.

Recall that in November 2019, ECC transferred the rights to the Zcash trademark to the Zcash Foundation, and in mid-January, the company introduced a set of tools for developing decentralized applications on the blockchain (SDK) for Android and iOS.