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I do not like 20% founders tax. I do not like "trusted" setup. I do like Zooko trying to make fungibility stronger. I do like zero knowledge proofs making their
by RichardHeart 9y ago
I do not like 20% founders tax. I do not like "trusted" setup. I do like Zooko trying to make fungibility stronger. I do like zero knowledge proofs making their way into the wild.
- GhotiFish 9y agoisn't it 10%? Main site says 10%, but I hear people complaining about 20%. I'm not sure what's going on here.
- saurik 9y agoI don't know what website you are reading, but the Zcash website says it is 20% now but after 4 years drops to nothing, and when you account for the dropping rewards given to minors, after ten years (when mining will end) the result will be 10% went to the founders: so people saying "a 20% tax" are correct today even if the tax rate will amortize a long time from now to only be 10%. > 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. https://z.cash/blog/funding.html https://z.cash/blog/funding.html > 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.
- gojomo 9y agoIt's 10% of all ZEC over planned mining-distribution, but front-loaded: 20% of mining-rewards for the 1st four years, then 0% thereafter.
- anon4728 9y agoEverything but the actual private key/parameters should be open-source, vetted and approved before going forward on a cryptocurrency... no magic obscurity when it comes to money. Otherwise, scams and/or vulns lead to amateur-hour fail.