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Zcoin presents a new development fund that increases the percentage of block rewards

May 5, 2020

Zcoin (XZC), the “data protection currency”, is revealed the new block reward distribution (Block Rewards with English name) which the project will introduce after halving in September thereafter over a year of discussion in the crypto community.

The new redistribution is derived 15% of all block rewards to a development fund.

The funds go to Network infrastructure and central project development, including the investigation of new data protection protocols and development of the digital “wallet”.

Zcoin to publish block reward assignments after halving

Zcoin presents a new development fund that increases the percentage of block rewardsZcoin presents a new development fund that increases the percentage of block rewards

After halving in September 12.5 XZC are generated per block. 50% or 6.25 XZC will be given to miners, while 35% of 4.275 XZC will go to miners Znodesand the remaining 15% or 1,875 XZC is redirected to the Zcoin Development Fund.

After two years The community will review the allocation of funds the development of this project “to assess its needs and quantity” – with discussions that will begin 18 months after halving.

Currently Only 6% of the 25 XZC earned per block are redirected to the development fund8% for founders and seeds, 30% for Znodes and 56% for miners.

Zcoin presents its new reserve fund

The project also presents us the Zcoin Reserve Fund, which absorb all XZCs branched off by the development fund if the balance of this fund exceeds $ 100,000with the specified limit of Increased by 4% a year to counter inflation.

Currencies held by the reserve fund can only be provided by the consensus of the crypto community. Reserve funds are used solely to pay for bug bounties rewardscover up the deficits of the development fund in the event the XZC price drops below $ 3.50 and other community-approved initiatives.

Community feedback generated new reward assignments

Talk to Cointelegraphthe Zcoin project manager Reuben Yap, explained that discussions about the allocation of block rewards began after halving in March 2019.

Yap said the suggestions and feedback “collected through messages in forums, chats on telegram and meetings in the crypto community“”

“Vote in a data protection currency it is particularly complicated, since we cannot relate the votes to the voter’s identity, “he said Yapand added, “Without identity, The possibility of electoral fraud was a real risk. We also wanted to avoid creating a plutocracy, and that’s why We have decided not to use the amount of coins we have as voting rights“”

After putting together the most popular Discord community suggestions, Yap explained this The new task resulted in three sessions covering different time zones.

“”There were no major objections on the proposals as a whole, so the final allocation was set, “he said.

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