In keeping with ECC’s shift to a market- and user-driven product technique, we proceed to collect info to information subsequent steps with regard to Zcash Shielded Belongings (ZSAs, or UDAs as labeled by the Zcash Basis). We’ll share that info because it turns into accessible and supply suggestions to the neighborhood based mostly upon our evaluation.
Our present efforts embody:
- financial analysis and modeling that aligns to our mission and the very best pursuits of ZEC holders
- scientific issues via ECC’s Scientific Advisory Group
- trade suggestions
- neighborhood suggestions gathered, such because the polling the Zcash Basis has finished with its Zcash Neighborhood Advisory Panel (ZCAP)
- ZEC holder suggestions
- regulatory evaluation
- technical implications and danger
- function prioritization evaluation
The intent of this publish is to stipulate the steps we’ve taken and anticipate to soak up the weeks forward. I wish to be aware that that is our strategy at ECC. The Zcash Basis and others locally could have completely different approaches or priorities.
Present state of knowledge gathering
Financial analysis: As beforehand communicated, ECC has engaged with the Computational Experimental Economics Lab at George Mason College (GMU). Over the last couple of months, they’ve been baselining and starting to mannequin completely different approaches and implications of ZSA help. Modeling for using internet hosting charges as a mechanism for offering worth to ZEC holders is underway. Different fashions will observe and we’ll publish these outcomes when accessible.
Scientific issues: We’ve got met with the world-class ECC Scientific Advisory Group (SAG) on three events to debate varied concepts and issues. Their concepts and suggestions have been surfaced to GMU to be used in modeling and in help of our analysis on a attainable strategy.
Trade suggestions: To evaluate market curiosity and suggestions, now we have begun assembly with recognized trade individuals who might need curiosity in issuing ZSAs. It might be a disgrace to do the work to make the ZSA functionality accessible solely to have it fail due to inadequate market curiosity. To this point, now we have met with 4 completely different teams and can publish our findings after we full this work. For these occupied with issuing ZSAs, we’ll start to have interaction in technical R&D to evaluate how greatest to fulfill their necessities within the protocol.
Zcash Basis neighborhood suggestions: The Zcash Basis lately launched the outcomes of a ballot of its advisory panel that indicated these polled strongly help the prioritization of ZSAs. Although there are points with the ballot (1, 2), we imagine it is a clear indication of curiosity from the Zcash Basis ZCAP members, and we thank the inspiration for offering this necessary knowledge.
ZEC holder suggestions: We lately launched a weblog that outlined our assertion that ZEC holders ought to have a voice and don’t at the moment have an satisfactory mechanism to precise it. We’ve got determined to pursue a path to ballot coin holders in help of our suggestions to the neighborhood. Whereas the instruments now we have accessible right this moment are rudimentary, we imagine our strategy is an effective first step to permitting them the choice to precise their beliefs. We plan to conduct a ballot that features ZSAs in late September.
Regulatory evaluation: As now we have been assembly with attainable issuers, regulatory questions have come to mild. Although we haven’t but begun this work, we intend to have a look at regulatory implications of various choices previous to publishing our suggestions to the neighborhood.
Technical implications and danger: As talked about above, we’re assessing the technical necessities in live performance with financial modeling, suggestions from the ECC SAG and suggestions from potential issuers. This work is fluid and we’ll present extra element in help of suggestions made again to the neighborhood.
Characteristic prioritization: We’re evaluating function prioritization for ECC-delivered merchandise based mostly on a number of issues together with optimistic potential affect for Zcashers and the extent of effort required. A lot of the knowledge gained to tell that analysis is printed above. Nonetheless, our evaluation is extra sturdy than a easy “we must always do X first” and contains the extent of effort, ordering of functionality to maximise affect for Zcashers, consumer expertise issues, market timing, and potential attain.
The ECC staff is working exhausting on the efforts above to the best extent attainable. Our first precedence is the profitable launch of Halo Arc with ecosystem help, our contributions for the profitable activation of NU5, and associated campaigns to bolster these efforts. We strongly want others within the ecosystem to pursue among the above work alongside us and welcome the analysis, trade engagement, and regulatory views of others. We admire the love and help for our widespread mission of bringing financial freedom and alternative to the world.