Odaily News According to a post on X by Josh Swihart, CEO of the Electric Coin Company (ECC), the original development team behind Zcash, the team remains fully committed to Zcash. Additionally, they are building a new Zcash wallet, and pre-applications for the product are now open.
Odaily News Regarding the collective departure of the Zcash development team, Bootstrap, the non-profit organization behind the project, clarified that the governance dispute leading to the team members' departure stemmed from legal constraints faced while seeking external investment. Discussions have been held on "alternative structures for external investment and privatizing Zashi," while also working with legal counsel to ensure any path forward complies with U.S. non-profit organization laws, aligns with Zcash's long-term mission, and does not jeopardize the broader Zcash community. (Cointelegraph)
Odaily News: Josh Swihart, CEO of the Zcash (ZEC) development team Electric Coin Company (ECC), posted on X stating: "The past few weeks have made it clear that the majority of the Bootstrap board (the non-profit organization behind ECC, which supports Zcash by managing ECC), particularly the Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai group (referred to as the ZCAM group), have significantly deviated from Zcash's mission. Yesterday, due to the constructive dismissal actions by ZCAM, the entire ECC team has resigned collectively. In short, our employment terms were unilaterally altered, preventing us from performing our duties effectively and with integrity. We are establishing a new company, but we remain the original team with the same mission — to build unstoppable privacy money. The key point is that the Zcash protocol itself remains unaffected. This decision is solely to protect the team's work from malicious governance actions — actions that have rendered ECC incapable of fulfilling its original mission."
Odaily Note: In 2020, after most shareholders chose to donate their shares, the Zcash development company Electric Coin Company (ECC) had transitioned to a structure under the non-profit organization Bootstrap.
