Zcash Developer Unveils New Wallet Amid Team Departure

MEVictim · 2026-01-08T22:25:04+00:00

The Electric Coin Company (ECC) has left its governance structure due to disputes, leading to team departures. Despite this, Zcash development continues, with a new wallet launch planned. ZEC's value initially dropped over 20% but rebounded as the protocol remains stable.

MEVictim

2026-01-08 22:25:04

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Source: CryptoNewsNet Original Title: Zcash developer unveils new wallet amid team departure Original Link:

Overview

The Electric Coin Company (ECC), the creator of Zcash, has exited its existing governance structure following a dispute with Bootstrap, the nonprofit organization overseeing the Zcash ecosystem. Despite the team departure, Zcash development is moving forward with a new wallet rollout.

Team Departure and Governance Dispute

Josh Swihart, former CEO of the Electric Coin Company, announced that ECC staff were “constructively discharged” after growing misalignment with members of Bootstrap’s board. According to Swihart, changes to employment terms and governance constraints made it impossible for the team to continue operating effectively.

New Development Structure

Following the dispute, the former ECC team is forming a new Zcash-focused company and will continue full-stack development on Zcash under a new structure. The team remains fully committed to the protocol and is not launching a new token.

New Wallet Launch

As part of the team’s continued efforts, they plan to launch a new wallet built on the existing Zashi codebase. The wallet, currently code-named cashZ, is positioned as a step toward scaling Zcash to a broader global user base.

A waitlist for the new wallet is now live, with existing Zashi users able to migrate seamlessly once the wallet launches in the coming weeks.

Market Impact

Zcash’s native token ZEC fell more than 20% following the ECC departure announcement before rebounding about 12% by Thursday afternoon. The protocol itself remains unaffected by the personnel changes.

ZEC-1,08%

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