Zcash Company to Get New Name

Now the company is called Electric Coin Company, but they will keep Zcash support and development
22 February 2019   425

One of the key companies in the Zcash anonymous cryptocurrency ecosystem, officially called the Zerocoin Electric Coin Company, LLC, but better known as the Zcash Company, announced its own renaming. This is reported in the companies blog.

The Zcash Company is now the Electric Coin Company. We’re changing the name for clarity. Our legal name has always been the Zerocoin Electric Coin Company, LLC, and we’ve been calling ourselves the ‘Zcash Company.’ But, the company isn’t “Zcash.” Zcash is the cryptocurrency we build and support, with the help of others in the community. 

Only the name has changed. We are the same team, with the same mission: to empower everyone with economic freedom and opportunity. We developed and help steward Zcash.

Josh Swihart 

Electric Coin Company

The company will keep the website at z.cash “for the community”, and will move to the new domain itself.

The developers have assured users that they will continue to pursue the development of Zcash. It is possible, however, that behind this decision there may be hidden reasons that the former Zcash Company chose not to disclose publicly. Ripple, for example, takes measures to distance its legal background from the XRP cryptocurrency it has issued. Zcash, in turn, is supported by American exchanges such as Gemini and Coinbase, which tend not to confront regulators.

BOLT Labs to Raise $1.5M

BOLT Labs is a developer of ZCash off-chain solutions and raised funds to develop privacy-oriented solutions in second-layer protocols
18 April 2019   366

Startup BOLT Labs successfully closed a seed round of financing led by Dekrypt Capital and raised $ 1.5 million to develop privacy-oriented solutions in second-layer protocols like the Lightning Network.

The venture unit of Ripple (Xpring), Zcash Foundation, Lemniscap, Access Ventures, Kilowatt Capital and business angel Branson Bollinger also took part in the round.

Computer Science Ph. D. Ayo Akinele, the founder of BOLT Labs, intends to use the tools to create a fast, private and secure network of payment channels. As planned by Akiniele, the new protocol will be scalable and compatible with any cryptocurrency networks and solutions of the second layer.

For the first time, the BOLT technology was presented in a document published in 2016 by Matthew Green and Ian Myers, the founders of the Electric Coin Company. The main task was to create a scalable solution of the second layer, in which the complete privacy of users is activated by default.

Note, the concept of the future product BOLT Labs for the network ZCash should appear in the summer of 2019.