Electric Coin Company CEO Zuko Wilcox advocates for Zcash to transition from its current mechanismProof-of-Work consensus on Proof-of-Stake.
Wilcox laid out a number of arguments for the transition.In his opinion, this will have a beneficial effect on the value of ZEC, as the move to PoS will remove the selling pressure in the ZEC markets from miners who cover their operating costs.
About $300,000 worth of ZEC is mined daily, and Wilcox estimates that most are sold almost immediately.
Users who will earn ZEC through staking will be focused on ongoing rewards and long-term investment in Zcash.
Another argument in favor of PoS – providing better security for Zcash at a lower cost.
Wilcox concluded:
"The bottom line for me is that switching Zcash from PoW to PoS offers many huge improvements to the utility, security and decentralization of the Zcash network, as well as the demand for the ZEC coin."
Ultimately, the Zcash community will decide whether to move to PoS. However, Wilcox is widely recognized as the leading voice of Zcash.
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