Zcash Community Approves Proposal to Allocate 20% of Block Rewards Toward Grants
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The Zcash crypto community has approved a proposal to allocate 20% of block rewards to a new decentralized grants system, aiming to enhance development initiatives across the ecosystem.
This decision follows a poll conducted among the Zcash Community Advisory Panel, focusing on the future of the Zcash Development Fund, which is set to expire in November.
According to a Monday blog announcement from the Zcash Foundation, the favored proposal, the “Lockbox for Decentralized Grants Allocation,” received 14% “strongly approve” and 34% “approve” votes, securing a cumulative approval of 63%, significantly outpacing other options.
Vote results of Zcash funding proposals | Source: The Zcash Foundation
The proposal directs 20% of Zcash block rewards into a trust, with funds accumulating until a decentralized voting and signature mechanism is established for disbursement.
Despite some advantages, the transition poses challenges, including the need for Zcash’s current development fund organizations to adapt to the new model and the technical complexities of establishing a secure, decentralized disbursement mechanism. The proposal’s author, under the alias $BTC
skyl,” noted in a forum post.
