May 28, 2023

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.

In accordance with the new model, miners will continuereceive their 80% reward for closing each new block, but the remaining 20% ​​will now be distributed between project development funds: 8% will be used for grants to third-party developers, 7% will go to Electric Coin Company, the company behind the coin’s trademark, and 5 % will receive the Zcash Foundation.

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

Changes in the distribution structure are due to take effect in November 2020, but they are still awaiting approval 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 in the distribution of funds, the Bitcoin cache community opposed the introduction of a 12.5% ​​mining tax in favor of the cryptocurrency development fund.