Recent Poll Showed Support From Zcash Community For New Mining Reward Changes

By Shannon Wilson | January 31, 2020

A poll conducted recently has revealed the pro attitude of the community, towards the new mining reward distribution scheme for Zcash, expected to be effective starting November this year. 

As the Zcash Founder’s Reward is going to be canceled in November 2020, numerous concerns, regarding the mining status of the privacy asset, has sparked. 

With the support from a large group of avenues, Telegram and Twitter included, the Zcash foundation has asked for the general opinion of the coin’s community, regarding the idea of mining payouts going forward. 

Officially effective at the beginning of November, when the coin’s halving is supposed to be taking place, and accordingly to the community poll result, the new mining reward distribution will be as follows – 80% for miners, 7% for the Electric Coin Company, 5% for the Zcash Foundation and 8% for grants. 

“Grant participants will receive the largest portion of development funds which will further decentralize Zcash-related efforts. Stipulations were also introduced for formal accountability and reporting requirements of each participant.” 

Regarding its former reward structure, miners will receive the majority of Zcash mining rewards (80%), and 15% to founders, investors and other kinds. The last 5% will be in the possession of the Electric Coin Company.

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