Zcash community votes to allocate 20% of network mining rewards to support development
January 29, 2020, 2:45PM EST
1 min read
The Zcash community has voted on a new methodology for distributing network mining rewards to support the development of the privacy-oriented cryptocurrency.
Per the voting decision, 20% of the Zcash mining rewards will be allocated to a development fund, while miners will get 80% as of block 1,046,400.
The development funds will be distributed among different parties. Electric Coin Company will get 7% of mining rewards, the Zcash Foundation will get 5% and the rest 8% will be used for grants to third-party developers.
The new rewarding structure would get implemented in November 2020 if the Zcash Foundation and Electric Coin Company – the main firm behind Zcash’s development – agree to go ahead with it.