How the New Crowdfunding System Decentralizes Funding

How the New Crowdfunding System Decentralizes Funding

By Capital Markets CIO Outlook | Monday, January 06, 2020

A crowdfunding system is facilitating decision-making and decentralization of funding.

FREMONT, CA: A privacy-focused currency, Zcoin has launched its Zcoin Crowdfunding System (ZCS). The core team of the company also explains ZCS plans to decentralize funding and decision-making of the project further and remove any single point of failure. The company intends ZCS to serve as a transition from funding directly from the block reward to a donation model by financing ancillary tasks like non-core development, third party integrations, and community management and events. The ZCS enables every community member to propose, approve, and fund activities. Each and everyone can submit an idea for a feature, task, or service for discussion. Funds are then released according to the events specified along with frequent updates of the development of the project. 

For transparency, Zcoin Crowdfunding System utilizes Zcoin's Github so that there is a trackable history of all proposals and its amendments. The company understands that as a privacy project, decentralization is essential for long term sustainability, which includes governance and funding. ZCS is drawn from good instances set by the Monero CCS and portraits that competing for privacy projects can complement each another, comprising drawing inspiration from one other and collaborating in research. Zcoin is full of hope that ZCS will result in boosted community participation in the project by enabling a simplified way to seek funding. The company is also set to launch Lelantus, which is Zcoin's innovation, drawing a lot of academic interest, as its next-generation privacy protocol in 2020.

Zcoin is the leading full deployment of the Zerocoin Protocol, enabling users to have entire privacy through Zero-Knowledge cryptographic proofs. Even though Zerocash is a development from Zerocoin, its respective deployments are not easy forks of each other, but depend on various cryptographic assumptions with multiple tradeoffs. Both approaches supplement each other considerably nicely, and an excellent way to describe them would be sibling projects.

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