Zcash: Final decision on the Major Grant Committee reached

  • The community vote on ZIP-1014 and the Major Grant Committee has resulted in a stalemate, so the Zcash Foundation has decided to take a middle course.
  • The Foundation will relinquish control to the Major Grant Committee, but will be able to exercise influence.

As the Zcash Foundation announced, the combined Community Advisory Panel and forum survey on ZIP 1014 has been completed. As the Electric Coin Company (EEC) recently announced, the Zcash Foundation has decided that the mining reward will be awarded as follows: 7 percent to the ECC, 5 percent to the Zcash Foundation, and 8 percent to third parties through major grants that make a significant contribution to the progress of Zcash.

It was questionable until the end how the major grants should be distributed. As has been indicated in the past, this has been a contentious issue. Specifically, the Zcash Foundation asked whether it should be responsible for the allocation of the grants itself or whether a new Major Grant Review Committee should be established. Of 119 eligible voters, a total of 88 voted, with 34 voters voting for ZF and 34 voters voting for an independent authority. 20 voters considered both options acceptable. Thus, a stalemate situation arose.

The Zcash Foundation therefore now sees it as its task to synthesize both proposals. In this respect it stated:

Long term, the Zcash ecosystem should have a stable, independent Major Grant Review Committee. Short term, a flexible approach to enable effective grant disbursement right after NU4 activates is ideal, while the community has time to discuss and optimize the final structure of the committee.

Specifically, ZF plans to merge and modify both proposals in such a way that the award of the Major Grants is subject to approval by a five-member committee. The funding decisions of the Major Grant Review Committee will be final. In principle, they also do not require approval by the Zcash Foundation.

However, the Zcash Foundation has a veto right if the committee’s decision violates ZF’s operating documents or U.S. law. Another new feature is that ZF must appoint a committee and that ZF is authorized to change or modify the composition of the committee. However, concrete conditions and election structures have yet to be defined.

In addition, the Major Grant Review Committee will be subject to a conflict of interest policy, according to which members may not decide on proposals where there is a conflict of interest. The Zcash Foundation states about the changes:

This modification accomplishes what both sides of the poll desired: leeway for the Foundation to bootstrap the Major Grant process, plus a defined path toward eliminating the Foundation’s control over that process.

There will be no further votes on the changes. The implementation will take place after a schedule for the Upgrade 4 (NU4) network has been established.

Zcash Foundation releases update to Zebra

The technical roadmap for 2020 already announced the development of Zebra, a Rust-implementation of Zcash. The new network stack, which was designed and implemented for Zebra, was presented in a blog post. The delivery is scheduled for NU3 in time. Technical details can be found in the blog post.

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About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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