Команда разработчиков Zcash создает новую компанию, следуя своей миссии после конфликта в ECC Translation: Zcash Development Team Forms New Company, Upholding Their Mission After Conflict at ECC

The entire team at Electric Coin Company (ECC), the main developer of Zcash, has departed the organization due to an internal dispute. This information was shared by former CEO Josh Swihart.

According to him, a majority of the board members of the non-profit Bootstrap Foundation went against the mission of the private cryptocurrency. The foundation was responsible for supporting and developing the Zcash ecosystem.

«In short, the terms of our employment were altered in such a way that it became impossible for us to effectively and honestly fulfill our responsibilities,» added Swihart.

The developers are planning to establish a new company while remaining committed to their core goal of creating «unstoppable private money.»

The Zcash protocol will not be affected by the team’s departure and will continue to operate as usual.

«This decision was made solely to protect our team’s work from malicious actions by the management, which made it impossible to achieve ECC’s original mission,» explained Swihart.

In light of this news, the price of ZEC has fallen by more than 10% in the last 24 hours. As of the time of writing, the coin is trading at around $440—considerably lower than the November peak of $720.

The Zcash price dipped below $400, reaching $394. In the past 24 hours, the asset has decreased by 18.6%.

Helius Labs co-founder Mert Mumtaz described the event as a «bullish signal.» The expert still anticipates Zcash to rise to $10,000.

«The most competent individuals in Zcash (alongside Tachyon, of course) are now free from the constraints of ineffective foundation policies,» commented Mumtaz.

It is worth noting that experts at a16z crypto believe that privacy will be the primary focus of the cryptocurrency market by 2026. Similar sentiments are echoed by entrepreneur Balaji Srinivasan and Coinbase Ventures.