Zcash is going through a tough time. The entire development team resigned from the Electric Coin Company (ECC) due to disagreements with management over working conditions and the project's original mission. They're forming a new independent company to continue building Zcash, but investors are worried, and ZEC's price has dropped nearly 20%.
The Zcash protocol itself is still operational and decentralized, with no disruption to block production or user activity. However, the resignation raises concerns about the project's future, including its technical roadmap, funding, and community trust.
Some key points to consider are:
- Governance Structure: Zcash's governance model has been criticized for being centralized, with the nonprofit Bootstrap holding significant control.
- Market Reaction: ZEC's price has dropped significantly, reflecting investor uncertainty and fear.
- Future Plans: The departing team plans to continue building Zcash's privacy technology independently.
The current price of ZEC is around $410.36, with a market cap of $7.31 billion.
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