Zcash Developers Launch CashZ Wallet After Leaving ECC
Zcash developers who recently left Electric Coin Company (ECC) are launching a new wallet called cashZ using the existing Zashi codebase.Summary
Developers from the team that launched Zcash and created the Zashi wallet have announced the launch of a new Zcash wallet, codenamed cashZ, built on the Zashi codebase, expected in a few weeks. This move follows their high-profile exit from Electric Coin Company (ECC) due to governance tensions and clashes over nonprofit rules. Former ECC CEO Josh Swihart stated the entire team remains focused on full-stack Zcash development, emphasizing they are scaling Zcash, not launching new coins. The team cited three main reasons for leaving ECC: the need for an organization aligned with Zcash's cypherpunk roots, the desire to avoid bureaucratic constraints inherent in nonprofit structures to move quickly, and the necessity of a scalable organizational structure to compete with major cryptocurrencies. Following the upheaval, the Zcash token (ZEC) dropped over 21% but saw a minor recovery after the announcement.
(Source：Cointelegraph)