Zcash Development Team Resigns Amid Governance Dispute

According to Odaily, Josh Swihart, CEO of the Electric Coin Company (ECC), the development team behind Zcash (ZEC), announced on X that the majority of the Bootstrap board members, including Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai, have deviated from Zcash's mission. As a result of alleged dismissals by these board members, the entire ECC team has resigned. Swihart stated that their employment terms were unilaterally altered, preventing them from fulfilling their duties effectively and with integrity. The team is now forming a new company, maintaining their original mission to build an unstoppable privacy currency. Importantly, the Zcash protocol remains unaffected by these changes. The decision to resign was made to safeguard the team's work from what they describe as malicious governance actions that have hindered ECC's ability to fulfill its original mission. In 2020, following the decision of most shareholders to donate their shares, ECC began transitioning to a nonprofit structure under Bootstrap.