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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 curr
by MCRed 11y ago
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.
- zooko-zcash 11y agoThanks, MCRed. Yeah, I worked long and hard on this, and this (https://z.cash/blog/funding.html 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/ https://github.com/Electric-Coin-Company/zcash/).
- MCRed 11y agoI 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.
- MCRed 11y agoI 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.