Zcash (ZEC) Improvement Proposal ZIP 1014 Approved by Community | BTCMANAGER
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The Electric Coin Company (ECC) and the Zcash Foundation (ZF) has agreed to approve Zcash Improvement Proposal (ZIP) 1014. The team says the ZIP 1014, which aims to allocate 80 percent of Zcash (ZEC) issuance to miners, has received huge support from the entire Zcash ecosystem, according to reports on February 17, 2020.
Zcash ZIP 1014 Gets Approved
As stated in its blog post, after one year of deliberation, Zero Electric Company, the creators of Zcash and the Zcash Foundation, have reached a mutual agreement for the implementation of the ZIP 1014 proposal.
The team says the ZIP 1014 comes with a few modifications for the Zcash Network Upgrade 4 which is scheduled to go live later in November 2020.
The team said:
“ZIP 1014 is the result of an intensive year-long process, initiated by the Zcash community, in which a variety of proposals were introduced, refined, and selected. ZIP 1014 was the most widely-supported proposal and has received strong expressions of support from the Zcash community as a whole.“
Specifically, the team has hinted that under ZIP 1014, after the halving, miners of Zcash will receive 80 percent of the issued tokens, 5 percent will go to the Zcash Foundation for core support functions,