Zcash Foundation is now public charity

According to official Twitter account, Zcash Foundation has been granted 501 (C) 3 status - it is now officialy a public charity
26 October 2017   1247

The non-profit organization Zcash Foundation announced the receiving of a charitable organization status. As the representatives of Zcash Foundation insist, this makes it the first charitable organization which activity is aimed at improving Internet payments and creating an infrastructure that would ensure the privacy of user data.

The foundation received the status of organization 501 (c) (3), which provides exemption from some federal income taxes in the United States. Under the rules of the Internal Revenue Service (IRS), for example, organizations are exempted if their activities are pursued by charitable, religious, educational, scientific or literary purposes.

When we were working with our lawyers it was important to me and several of the other board members that we accurately describe our goals—especially with regard to scientific research and public infrastructure. These may be more difficult to explain, and the IRS may be initially less comfortable with those arguments for public goods, but we were more interested in the principle of the thing: online public infrastructure and the science that makes it safe and private are just as much public goods as roads, reservoirs, and clean air or water.
 

Peter Van Valkenburgh
Member of the directors board, Zcash Foundation

It is also noted that the organization will continue to deal with issues of education in the field of crypto-currencies, technologies that provide online privacy and computer networks that manage these tools. However, the Zcash Foundation will also support open scientific research in the field of evidence of zero disclosure and related cryptographic technologies, as well as assist in building a decentralized Zcash network as an open public infrastructure.

Zcash to Implement Sapling Hardfork

Zcash team says that Sapling is a rebirth of the coin
29 October 2018   232

In the main Zcash network, the Sapling protocol was activated, which is necessary to perform secure transactions and increase blockchain performance.

The update is activated at block 419200. It, in particular, will reduce the time for processing transactions up to 90%, as well as significantly reduce the requirements for the amount of memory required to perform secure transactions. Sapling activation will also make it possible to use lightweight clients for secure transactions, and not just full nodes.

Immediately after activating Sapling, users of the zcashd client have access to addresses of a new type. Currently, funds cannot be transferred from protected old addresses to new ones without disclosing the amount of the transaction. This makes it possible to audit the monetary base of ZEC relating to protected addresses. The Zcash team is currently working on creating a tool to automate the movement of funds without compromising user privacy.

The Zcash blog also says that Sapling activation is essentially a “rebirth of cryptocurrency” because it takes the project a step closer to mass adoption as an open and confidential payment system.