Highlights:
- Electric Coin Company, the holder of the Zcash trademark sold it to the Zcash team
- The Transaction was done at “no cost” from the ECC team
- Now the Zcash Foundation has total control over all of its proceedings
Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. Much of the source code for Zcash was copied from Bitcoin. Like Bitcoin, Zcash has a fixed total supply of 21 million units. It was built by a non-profit organization, Electric Coin Company.
ECC launched ZCash in 2016 and has been supporting the project through research and development, engineering and regulatory relations, among other work areas.
Electric Coin Company (ECC), the maker of privacy-oriented cryptocurrency ZCash, has transferred the ownership of ZCash trademark to the Zcash Foundation “at no cost.” The company said it will continue its work for supporting the development and day to day activities of the project.
“The trademark protects the community from scammers and gives legal force to governance decisions by guaranteeing that the Zcash name is applied to the correct blockchain,” said ECC.
The ECC says the move comes after months of negotiations and it hopes that handing over ownership will help further decentralize the project and “honor and protect” the voice of its community.
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