Last weekend, two privacy coin conferences heralded the future of cryptocurrency governance: the hybrid startup model versus grassroots experimentation.
Over 200 people gathered in Croatia for Zcon1, organized by the nonprofit Zcash Foundation, while roughly 75 attendees gathered in Denver for the first Monero Konferenco. These two privacy coins are fundamentally different in a variety of ways – which was clearly on display at their respective events.
Zcon1 had a gala dinner with a seaside backdrop and programming that displayed close relations between companies like Facebook and the zcash-centric startup Electronic Coin Company (ECC), as evidenced by Libra being widely discussed with team members in attendance.
The quintessential funding source that distinguishes zcash, called the founder’s reward, became the center of passionate debates during Zcon1.
This funding source is the crux of the distinction between zcash and projects like monero or bitcoin.
Zcash was designed to automatically siphon off a portion of miners’ profits for creators, including ECC CEO Zooko Wilcox. So far, this funding has been donated to create the independent Zcash Foundation, and support ECC contributions to protocol development, marketing campaigns, exchange listings and corporate partnerships.
This automated distribution was scheduled to end in 2020, but Wilcox said last Sunday he would support a “community” decision to extend that funding source. He warned that otherwise ECC might be forced to seek revenue by focusing on other projects and services.
Zcash Foundation Director Josh Cincinnati told CoinDesk the non-profit has enough runway to continue operations for at least another three years. However, in a forum post, Cincinnati also warned the non-profit shouldn’t become a single gateway for funding distribution.
The amount of trust zcash users place in the asset’s founders and their various organizations is the p...