Ycash (YEC)
From CryptoWiki
Basics
- Friendly Zcash fork Ycash went live on 18-7-2019 at 3:00 UTC; Ycash is led by longtime Zcash proponent Howard Loo as a preemptive fix to the founder's rewards fee change; Ycash will cap the founder's reward at a perpetual five percent funneled to the Ycash Foundation.
- "First announced in April, the effort is spearheaded by long-time Zcash supporter Howard Loo. Loo described in a Zcash forum post that Ycash was a preemptive move to resist future community decisions that may extend Zcash’s system of developer funding known as the “Founder’s Reward” beyond a promised 10 percent cap of total token supply.
“We are also launching Ycash to uphold a promise – that the Zcash Founders Reward would be forever capped at 2.1 million coins – that we fear will come under increasing pressure between now and the expiration of the Founders Reward in October 2020,” Loo wrote in the forum post.
Since then, prominent leaders in the Zcash community such as founder of the coin Zooko Wilcox have publicly expressed their support of Loo’s initiative, agreeing to disagree on certain network changes to the Founder’s Reward and others that will make Ycash backwards-incompatible to Zcash."
