Zcash Developer Activity 2021 Low, ZEC Down 40% On Governance Dispute
Zcash developer activity hit a multi-year low amid a governance dispute, coinciding with a 40% price drop for ZEC.Summary
Developer activity for the privacy-focused cryptocurrency Zcash has fallen to its lowest point since November 2021, coinciding with a 40% price decline for the ZEC token over the last two months. This slowdown is occurring amidst an ongoing governance dispute between Electric Coin Company (ECC), the main development team, and Bootstrap, the non-profit supporting the protocol. ECC announced its separation from Bootstrap, citing "malicious governance actions," while Bootstrap countered by discussing privatization efforts for Zashi, the Zcash wallet. ECC developers are now creating a new wallet called cashZ. Despite the turmoil, the Zcash Foundation assured investors that the protocol's open-source nature ensures its integrity and continuity are unaffected by organizational changes. Nevertheless, ZEC's price dropped 14% in the past week, though whale and fresh wallet accumulation suggests some confidence remains.
(Source：Cointelegraph)