Zcash Developers Resign and Launch New Company After Board Dispute
Electric Coin Company’s team exited Zcash after a governance dispute with nonprofit Bootstrap, planning to create a new venture focused on unstoppable private money.
ZEC
Fact Check
The evidence strongly supports the statement's truthfulness. Multiple highly relevant and credible news sources, including The Block and CoinGape, independently report the same event. These sources consistently state that the Zcash development team, from the Electric Coin Company, resigned en masse. They all attribute the reason for the resignation to a governance dispute with a board (referred to as the 'Bootstrap board'). Furthermore, the reports, citing CEO Josh Swihart, confirm that the team intends to form a new company. The information is corroborated across these sources, and they all point to the same primary source (the CEO), which lends significant weight to the claim. While several provided sources are irrelevant, none of them offer contradictory evidence. The consistency and authority of the supporting evidence lead to a high-confidence assessment that the statement is likely true.
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Summary
Electric Coin Company’s entire development team has resigned from the Zcash project following a governance clash with nonprofit Bootstrap. The dispute led the team to plan a new enterprise centered on the concept of “unstoppable private money.” The resignation follows falling ZEC prices, marking a significant shift in Zcash’s developer base.
Terms & Concepts
- Zcash: A privacy-focused cryptocurrency that uses advanced cryptography to provide shielded transactions.
- Governance Clash: A disagreement or conflict between stakeholders over the control, decision-making, or direction of a project or organization.