Participants from the community of the privacy-focused cryptocurrency Zcash have voted to allocate 20% of the rewards given to miners for mining a block in the network to fund the development of the ecosystem.
From block 1,046,400, 80% of the rewards will be given to miners, while the remaining 20% will be used to fund the development of the project.
The distribution of the funds will be as follows:
- 7% will be given to Electric Coin Company.
- The Zcash Foundation will get 5%.
- The remaining 8% will be used for grants to third-party developers.
This new reward distribution system will come into effect in November if the Zcash Foundation and Electric Coin Company agree to go ahead with the proposal.
The Zcash development team is constantly working on improvements to the system. For instance, in October 2019 iHodl reported Zcash plans to launch a token compatible with ethereum's blockchain.
Yesterday iHodl reported Bitcoin.com has decided not to support the proposal that plans to donate 12.5% of the rewards given to the Bitcoin Cash miners to a fund for the development of the project.
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