According to a tweet by Josh Swihart, CEO of Zcash core development team Electric Coin Company (ECC), the entire ECC team has resigned. The reason is a significant misalignment between the majority of the Bootstrap Board (a nonprofit organization supporting Zcash) and the Zcash mission. Swihart stated that Bootstrap board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai altered the team's employment terms, making it impossible for them to effectively carry out their duties. The ECC team will establish a new company, but will continue to uphold the same mission: building an unstoppable privacy-focused cryptocurrency. Swihart emphasized that the Zcash protocol is unaffected by this event, and the decision aims to protect the team's work from malicious governance actions.
Zcash Core Development Team Resigns, CEO Announces New Company
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Summary
Zcash cryptocurrency news broke as the core development team at Electric Coin Company resigned. CEO Josh Swihart stated that the Bootstrap Board altered employment terms, making it difficult for the team to continue working. The group plans to form a new company while maintaining the same mission: building a private, unstoppable cryptocurrency. Swihart emphasized that the Zcash protocol remains unaffected. The move aims to protect the team's work from poor governance. New token listings are also unaffected by this transition.
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