TechFlow reports that privacy project Electric Coin has announced the results of a Zcash community vote to implement a new development fund model in November. This "hybrid deferred development fund" model aims to make Zcash more decentralized, inclusive, and sustainable.
Under the new model, 8% of block rewards will continue to be allocated to the Zcash Community Grants (ZCG). However, Electric Coin Company (ECC) and the Zcash Foundation (ZF) will no longer receive direct funding from block rewards. Their previous allocations (7% and 5% respectively) will instead be locked for future decentralized grants.
The new model will be implemented for an initial period of one year, during which the community will decide whether to adjust or redesign the non-direct funding mechanisms.
Earlier report: Zcash founder steps down as CEO of Electric Coin but remains on the board of its parent company.
