20 Nov 2021 [editorials] [events]

Zcash shows true colors with PoS move

Zcash1 is showing its true colors (again) with the planned switch from PoW to Proof-of-Stake, suggested by their latest ECC (Electric Coin Company) roadmap2:

[..] the best way for ECC to contribute to the Zcash community over the next three years is to release an official ECC wallet on top of a highly interoperable Zcash protocol that leverages proof-of-stake consensus.

This move doesn’t really come as a big surprise for anyone that’s privacy-conscious, as Zcash has always been eager to comply:

Zcash is fully compatible with global AML/CFT standards, including the FATF Recommendations, the European Union’s Fifth Money-Laundering Directive, and the United States’ Anti-Money Laundering regulations.3

With this rebranding, however, Zcash essentially admits to losing the privacy battle (if that was even a real goal) and joins Dash4 on the corporate road to absolute compliance.

  1. https://z.cash 

  2. https://electriccoin.co/blog/ecc-roadmap-calls-for-focus-on-wallet-proof-of-stake-and-interoperability/ 

  3. https://z.cash/compliance/ 

  4. https://www.dash.org/