The technical team that mass exited the Electric Coin Company (ECC) announced the launch of cashZ, a new digital wallet. Josh Swihart, former CEO of the organization, confirmed that the desarrollo de Zcash will continue independently. This decision comes less than twenty-four hours after a collective resignation driven by governance tensions. The developers seek to reclaim the original cypherpunk principles of the privacy project. Likewise, the new company will focus on scaling technology without previous bureaucratic constraints.
The cashZ wallet uses the same codebase as Zashi, allowing a simple migration for current users. According to Swihart, the team remains one hundred percent committed to desarrollo de Zcash full-time. The official launch is scheduled for the coming weeks, already generating a considerable waiting list.
More than three thousand people have already registered to test the new mobile application. Therefore, community interest remains intact despite the recent internal turbulence. However, additional technical details about cashZ will be progressively revealed during the month.
The conflict with non-profit structures was the primary catalyst for this radical separation. Developers argue that foundations prioritize rule-following over disruptive technological innovation. Zcash needs to compete directly with large networks such as Bitcoin, Ethereum, and the Solana network.
In this way, a startup structure will allow greater agility in the implementation of critical improvements. Additionally, the team maintains that privacy in the digital world should be as normal as cash. Thus, operational autonomy is vital to defend the rights of users.
Will the new corporate structure manage to recover the historical value of this privacy asset?
The ZEC token experienced extreme volatility after the news of the technical team’s departure broke. The price initially fell below 400 dollars before showing a significant partial recovery. ZEC recovered to 430 dollars in initial trading following the announcement of the new wallet.
Therefore, the market reaction reflects a cautious confidence in the new strategic direction. However, the asset is still far from its all-time highs reached in previous years. It is also relevant to note that institutional investors are closely watching these organizational changes.
Cryptocurrencies focused on privacy face a complex adoption landscape against global regulations. The cashZ team ensures they will not launch new coins, but will optimize existing infrastructure instead. The goal is to transform Zcash into a network capable of handling massive transaction volumes.
Hence, the success of this new institutional stage will depend on the speed of their releases. Undoubtedly, the cypherpunk community supports this return to roots regarding digital anonymity techniques. Likewise, competition between wallets is expected to benefit the end user with better features.
