Re:ZCash Will Be a Truly Anonymous Blockchain-Based Currency
by runako on Tuesday October 25, 2016 @03:52PM
(#12791100)
> the founders are incentivized to support Zcash for the long haul (at least for four years)
Four years is not the long haul when talking about a new currency.
Re:ZCash Will Be a Truly Anonymous Blockchain-Based Currency
by doubleyou on Tuesday October 25, 2016 @06:36PM
(#12792381)
Four years is an extremely long time when talking about a new currency.
Re:ZCash Will Be a Truly Anonymous Blockchain-Based Currency
by asidiali on Tuesday October 25, 2016 @09:20PM
(#12793202)
A currency from 2016, maybe. Not on the greater scale of things. I'd argue the dollar has only recently hit maturity in the past 50 years, being written into law in the 1790s [1]. The yuan has been around for over 2,000 years [2].
Currencies take time for sure.
[1] https://en.wikipedia.org/wiki/United_States_dollar?wprov=sfl...
> At first, 50 ZEC will be created every ten minutes. 80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders.
> Every four years, the rate of ZEC being created will halve (again, just like in Bitcoin). After the first four years the ZEC created per ten minutes will drop to 25ⓩ, but after the first four years, 100% of it goes to the miners.
> The end result (as shown in the diagram) is that there will ultimately be 21 million ⓩ, and 10% of it, or 2.1 million ⓩ, will have been initially distributed to the founders.
> With this approach, the founders are incentivized to support Zcash for the long haul (at least for four years), and they have limited ability to pump-and-dump.
From https://z.cash/blog/funding.html.
I don't know if this makes things better or not, but it sounds reasonable to me. From what I understand, "pump-and-dump" has been a concern in cryptocurrencies.