Sentiment Collection at ZCash Following recent Agreement and Trademark Donation AgreementNovember 9, 2019
The ZCash Foundation is restarting on the sentiment collection, which is closely related to the future of the development funding at ZCash.
The sentiment collection poll will be closing on November 30, 2019. And, the summary of the results will be published on December 03, 2019.
ZCash (ZEC) is one of the best privacy-centric digital currencies available in the crypto space, next only to Monero (XMR).
Electric Coin Company (ECC) after long negotiations have accepted to donate their trademark to ZCash Foundation. Back in 2016, ECC developed and launched ZCash, which was privacy oriented.
An agreement was reached between ECC and ZCash foundation. After reaching the agreement, ZCash Foundation is responsible for managing the costs associated with assigning and protecting the trademark.
The reputation of the project was recently in stakes as a malicious counterfeit version of the ZecWallet belonging to the ZCash Foundation was doing the rounds. The agreement between the two companies is a sign of them willing to prevent such events from happening. This will eventually prevent further scams from affecting the community.
The agreement about the trademark is very important as it helps differentiate one brand from another. It also adds to the legality and improves the reliability of ZCash.
Major issues related to sustaining the reputation of the project will be sorted due to trademark donation. In recent months, there has been a decline in the price of the ZEC, and the negative trend has not subsided. Zcash has been hovering near $37.82. The overall market is down by 1.7%, and ZCash reflects the market trend.
On Thursday, ECC reinstated, “No party has independent authority to declare that a specific chain of Zcash can be called Zcash. There must be an agreement from both parties, and neither party can unilaterally override the will of the community.”
The negotiations, according to reliable sources, were painful. Wilcox stated like it was seen the bird leave the nest. He further added, “As a person, I am devoted to zcash and can never stop working for zcash and all that it means for humanity. As the ECC, of course, we can only work for the community if they hire us to do so.”
There are no precedents for agreements of this kind. The process has been happening over a couple of months though it appears to be trivial for onlookers. Wilcox stated that having been the face of the cryptocurrency at a point in time, he was not able to make something to happen or not allow something to happen.