ZCash (formerly Zerocash/Zerocoin) technology preview

Re:ZCash (formerly Zerocash/Zerocoin) technology preview by MCRed on Friday February 05, 2016 @04:37PM (#11044835)

Zcash gets %10 of the mined coins for the first 4 years and %1 goes to a foundation. This is their business model. It seems reasonable to me... using the currency you're creating to fund the development of the currency.

If Zcash ends up worthless, then they won't have captured any value.

Since it's not a pre-mine it's not subject to the pump-and-dump dynamics of a pre-mine... it will take 4 years and the coins will have to be valuable over those four years for them to net anything.

It's a reasonable approach to aligning the companies interests with those of the users.

I'd love to hear a better one though, if you know of one.

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Re:ZCash (formerly Zerocash/Zerocoin) technology preview by zooko-zcash on Saturday February 06, 2016 @02:46AM (#11046941)

Thanks, MCRed. Yeah, I worked long and hard on this, and this (https://z.cash/blog/funding.html) is the best idea I could come up with. And yeah — if anyone else reading this has any better ideas, I would love to see you try it! If it helps, you could start with a copy of our source code (https://github.com/Electric-Coin-Company/zcash/).

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Re:ZCash (formerly Zerocash/Zerocoin) technology preview by MCRed on Saturday February 06, 2016 @11:11AM (#11048248)

I would love to see your source code get audited by a third party. I have a lot of faith in your cryptographers, but your methods are harder to grasp than bitcoin and thus harder for me to audit myself-- I admit, I don't have the crypto skills.

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