Zooko Wilcox, the founder of Zcash, is expediting the transition to a hybrid proof-of-stake system for the privacy coin after joining Shielded Labs. In a blog post on Aug. 10, Wilcox emphasized the need to move away from proof-of-work mining, which has impacted the coin's price. The upcoming upgrades include the Zcash Sustainability Fund and the adoption of the 'Crosslink' protocol. These changes aim to enhance security, reduce transaction times, and enable staking for ZEC holders. Wilcox's move to Shielded Labs, along with generous donations from supporters like the Winklevoss twins and Vitalik Buterin, will support the development and implementation of these upgrades. Despite being delisted by major exchanges in 2023, ZEC has shown a recent price increase, though it remains significantly below its all-time high. Read more AI-generated news on: https://app.chaingpt.org/news