June 19, 2024

Zcash Community Approves New Mining Reward Distribution Scheme

Zcash Community Approves New Mining Reward Distribution Scheme

The Zcash community has voted for a new mining reward distribution scheme to ensure the stable development of the cryptocurrency.

Under the new model, miners will continue to receive their 80% reward for closing each new block, but the remaining 20% will now be distributed among the project's development funds: 8% will be used to pay grants to third-party developers, 7% will go to Electric Coin Company, the company behind the coin's trademark, and 5% will go toZcash Foundation.

According to the community, the increase in grants will be additionalcontribute to further strengthening the decentralization of the network.

Changes to the distribution structure are due to take effect in November 2020, but they are still pendingendorsement by the Zcash Foundation and ECC.

The current model provides that of the allocated 20% of the remuneration for mining, 15% goes to the founders and investors, and the remaining 5% to Electric Coin.

While Zcash approved changes to the distribution of funds, the Bitcoin Cash community opposed the introduction of a 12.5% mining tax in favor of the cryptocurrency development fund.