ECC has reached a consensus with the Zcash Foundation on a new mining reward distribution plan (ZIP 1014)

Zooko Wilcox, CEO of Zcash development company Electric Coin Company (ECC), wrote that after making some modifications, ECC has reached a consensus with the Zcash Foundation on approving the Zcash Improvement Proposal ZIP 1014, which will be activated in the fourth Zcash network upgrade (NU 4), ​​which is expected to be launched around November 16, 2020.

The ZIP 1014 improvement proposal mainly involves a new mining reward distribution plan - in the next four years, 80% of Zcash mining output will be distributed to miners, 5% to the Zcash Foundation, 7% to ECC, and 8% to independent third parties to improve Zcash.

Wilcox emphasized that the joint recognition of the revised ZIP 1014 by the ECC and the Zcash Foundation means that once the fourth network upgrade is activated, the "Zcash" name and logo will only be used for blockchains that implement ZIP 1014 in the consensus rules. (Odaily Planet Daily)