Zooko Wilcox Envisions 'Ambitious' Changes for Zcash Cryptocurrency

That's Zooko Wilcox, CEO of Electric Coin Company - the firm behind the privacy-focused cryptocurrency zcash.

In October of last year, Zcash underwent its biggest protocol upgrade to date, nicknamed "Sapling."

Now, Wilcox envisions another "Three or four year long moonshot project" in order to develop zcash "In ways that are not specific to privacy."

Called the Zcash Improvement Proposal process, Cincinatti told CoinDesk that for the first time in the protocol's history new ZIPs will be reviewed by a representative from the ECC and the Zcash Foundation.

Last month, the Foundation announced steps to become more actively engaged in the protocol development process alongside the ECC. "The metaphor is that I want us to exist in a two-of-two multi-signature governance model where the Electric Coin Company holds a key and the Foundation holds a key and where broader decisions about zcash really have to be mutually agreed upon by the Foundation and the Electric Coin Company," said Cincinatti.

Another proposal seeks to lay the building blocks for a private layer-two payment network on top of the zcash protocol called BOLT. And by the time these proposals are approved, tested and activated on zcash mainnet, Cincinnati points out zcash will finally have its second software - also called client - implementation for the protocol.

Outside of ZIP process, the Zcash network is also preparing for the activation of two backwards-incompatible changes in a system-wide upgrade also called a hard fork this upcoming October.

Nicknamed Blossom, the hard fork once initiated will increase block times on the network and will split up the network's 20 percent block reward tax into three set wallet addresses - one for the Zcash Foundation, the Electric Coin Company Strategic Reserve and the remainder.

History Zooko Wilcox explains will eventually prove privacy coins like zcash, beam and grin as the norm for all cryptocurrencies in the future.

A similar sort of struggle, Zooko Wilcox argued, is occurring right now with governments viewing cryptocurrencies like Zcash, Grin and Beam that host "Strong privacy protection" as being "Dangerous and scary."