- Vitalik Buterin has come to help Zcash this week following one commentator dubbed the project a “failure.”
- The commentator in question said that the failure by Zcash to increase its market cap of over $250 million.
- The crypto influencer also refers to the contentious Zcash founder’s reward.
Vitalik Buterin has come to help the privacy coin, Zcash this week following one big crypto commentator dubbed the project as a “failure.”
Digging into Zcash
@WhalePanda was the Twitter crypto commentator in question who said that the failure by Zcash to increase its market cap of over $250 million and deliver a return to investors render is why the project hasn’t worked. The crypto influencer also refers to the contentious Zcash founder’s reward. With this in mind, the projects creator Zooko Wilcox-O’Hearn would receive more than 2,000 ZEC tokens on a monthly basis.
“When do you consider your project a failure? Is it when after a funding round, 3 years of founder’s rewards & a request for an extension of these rewards the marketcap of your coin is still smaller than DOGE? A silly meme project that hasn’t gotten an update in 5 years.”
The co-founder of Ethereum and an advisor to Zcash, Vitalik Buterin made comments on WhalePanda’s assessment of Zcash.
“Zcash has been doing cutting-edge research and deployment of privacy tech and at the same time exploring uncharted terrain in blockchain governance, and the platform keeps getting better. No idea how one can consider it a failure.”
The crypto commentator is confident that investors in the privacy coin have been ‘footing the bill’ for a continuous experiment over the past few years, as he went onto add:
“How much value has all that “cutting-edge research and deployment” given to the actual investors in the coins? Or well instead of “investors” lets call them “duped idiots that got dumped on for 3 years.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!