Zcash Developer Threatened with Hardfork

As reported, Maintainer of the Windows zcash wallet software, D. Jane Mercer, was going to cease development of the clients
22 June 2018   39303

One of the developers of software for Windows-wallet of ZCash threatened to implement the hardfork of this crypto, if he will not be compensated. This is reported by CoinDesk.

According to Jane Mercer, last year he worked on a voluntary basis and lived for donations, and sometimes he had to work for free. After he ran out of funds, he decided to resort to threats to end his activities and "split" the network.

The Zcash community did not ignore this incident, and for a short period, Mercer's wallet received several anonymous transactions amounting to 80 ZEC (about $ 15,000). According to the developer, with threats he wanted to express his disappointment.

As reported, if Mercer stopped developing software for the ZCash wallet, which is installed in tens or even hundreds of thousands of users, customers couldn't use it after the upcoming network updates.

I finally got one of the Zcash Foundation board members on the phone, and he managed to talk me back from the ledge from chain fork threats and fun things like that. I'm all calmed down, everything is happy now, I hate altcoin drama and it's the only time I have stirred it up deliberately in my life.

Jane Mercer

Developer, Zcash Foundation

Overwinter update for Zcash is planned for 25th of June.

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   365

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.