Sooner or later, because of a revolutionary set of applied sciences — constructed on the rules of honest entry and decentralization — humanity will expertise larger freedom and safety than at any level in historical past. Every particular person will take pleasure in self-sovereignty, and collaboration and creativity can be at an all-time excessive.
In 30 years, there can be fewer centralized gatekeepers to resolve who can take part in society. There can be fewer king makers to find out who wins and who loses.
On this period — the Golden Age of freedom and self-expression — schooling and alternative can be accessible to everybody, innovation will thrive, privateness can be regular and anticipated, and the individuals (and governments) of the world will agree {that a} vibrant society depends upon respecting and upholding human dignity, safety, and consent.
That is ECC’s imaginative and prescient for the longer term; and for our half, we’ll empower financial freedom for billions with a good, open forex, accessible to each particular person on the Web.
Zcash right this moment
At this time is Zcash’s birthday. Launched on Oct. 28, 2016, Zcash was the primary undertaking of any sort to efficiently use zero-knowledge proofs. Earlier this 12 months, Electrical Coin Co. (ECC) applied Halo — a brand new and improved zero-knowledge proving system — to take away reliance on advanced setup ceremonies.
The efficiencies constructed into this improve made doable — for the primary time ever — non-public, trustless digital money funds on cellphones. Halo is now being examined in different initiatives for its privateness and scalability advantages; and in a partnership with Protocol Labs, Filecoin Basis, and Ethereum Basis, ECC is collaborating with these groups to unlock recursion in Halo and discover how the expertise is likely to be used within the respective ecosystems. (Additionally, there’s a multi-million-dollar pool for builders and groups who’re keen on including utility for the Filecoin and Zcash chains.)
Subsequent 12 months, in 2023, ECC will launch a fully-supported business cell pockets within the iOS and Android app shops with the rationale that Zcash adoption will develop when (1) the person expertise is great — simple and quick — and (2) customers are given compelling options and capabilities that help a rising variety of use circumstances. That is aligned with our North Star, a dedication to assist construct a world-class person expertise for ZEC, the Zcash token.
In 2023, we’ll additionally make a proper suggestion to maneuver Zcash from proof of labor to proof of stake. That is in the end a Zcash group determination, however we imagine the advantages far outweigh the dangers, and we’re trying ahead to the dialogue.
There’s a lot extra to be enthusiastic about, akin to a posterity fund proposal, ongoing third-party work on Zcash shielded property, a Rust-language Zcash node being constructed by the Zcash Basis, persevering with decentralization and improvement funding with the latest formation and momentum of the Zcash Neighborhood Grants group, and a few spectacular Zcash partnership bulletins on the horizon.
We’ve solely simply begun.
ECC’s 30-year plan
Empowering billions of individuals around the globe with financial freedom is a monumental activity, and it’ll require many mission-aligned individuals and groups to decide to it. Beginning with a 30-year aim in thoughts, ECC has labored backwards to conceive a path for our contribution towards attaining it. There are more and more extra methods and contributions to Zcash from throughout the ecosystem, and we look ahead to collaborating to comprehend our collective imaginative and prescient of the longer term.
For apparent causes, the roadmap is extra detailed within the close to future.
2052: Zcash for billions
Within the 12 months 2052, each particular person on the Web could have the power to acquire and use Zcash based on their very own preferences. Financial freedom requires non-public digital money that’s equitable, accessible, permissionless, privateness defending, and resilient; and we (not simply ECC, however many Zcash group contributors) are laser-focused on constructing the very best resolution. We’ve come a good distance since 2016, however the expertise must evolve, beginning right this moment, to scale to billions of customers.
This, in fact, isn’t the top aim. It’s a milestone. We envision Zcash as a essential part to financial freedom for generations to return.
2032: Ship a world-class UX for ZEC
Aim
ECC could have delivered a world-class person expertise for ZEC (the Zcash token) — a good and open forex inside a framework that protects freedom, dignity, consent, and safety.
Success standards for 2032
Utilizing ZEC throughout ECC and third-party functions is very easy customers don’t have to consider it. It’s no less than as simple to make use of ZEC because it was to share images and movies in 2022 world-class apps, akin to Tik Tok or WhatsApp.ZEC customers: The variety of precise human customers — individuals who have bought, offered, despatched or obtained ZEC within the earlier 24 months — is 1 billion throughout the globe.Zcash is a top-five cryptocurrency by market cap.Sentiment: Zcash customers are more likely to suggest Zcash to a buddy or colleague. That is measured in a Web Promoter Rating (NPS). For Zcash, the NPS is ≥ 50 yearly.Decentralization: As a result of decentralization is necessary to person safety, censorship-resistance, and undertaking longevity, no less than 10 long-term, viable organizations are actually centered on Zcash.
2025: Proof of stake and interoperability
Three years from now, we could have delivered an ECC-built and -supported cell pockets on prime of an interoperable Zcash protocol that leverages a proof-of-stake consensus. Options in incremental pockets releases can be primarily based on Zcash person suggestions, trade suggestions, and market analysis. The pockets will help core PoS and interop use circumstances.
Aim
Zcash could have transitioned from a proof-of-work to a proof-of-stake consensus mechanism. There can be robust help for Zcash interoperability and broad entry to ZEC throughout DeFi and CeFi. At this level, we count on robust demand for Zcash/ZEC among the many “early majority.”
Success standards for 2025
ZEC customers: The variety of customers has doubled from the earlier 16-month interval, and the ECC pockets is seeing 1 million month-to-month lively customers.Zcash is a top-10 cryptocurrency by market cap.Sentiment: The Zcash Web Promoter Rating (NPS) is ≥ 50 yearly.Decentralization: Not less than 5 long-term, viable organizations are centered on Zcash.
Late 2023: UX foundations
By the shut of 2023, the ECC cell pockets can be accessible within the iOS and Android app shops with network-level privateness and prompt sync — offering pace, comfort, and larger entry. That is essential for a world-class UX for ZEC and lays the muse for rising ZEC customers.
Aim
Ship an open-source pockets that’s accessible on Apple and Android shops and properly supported by ECC; enhance the ZEC UX together with community privateness and prompt sync; enhance the Zcash tech stack (pockets, SDK, lightwalletd, protocol) enough to double customers by the top of 2025.
Success standards for 2023
Customers: The variety of customers has doubled from the earlier 12 months.Sentiment: The Zcash Web Promoter Rating (NPS) has been ≥ 50 for the final 12 months.Decentralization: Not less than 4 long-term, viable organizations are centered on Zcash.
The subsequent 4 months: Set up new baseline
ECC’s No. 1 precedence for the time being is updating the Zcash protocol and our pockets SDKs to assist third-party suppliers repair pockets syncing points. An elevated on-chain transaction load has resulted in unacceptable sync occasions for a lot of on a regular basis customers, and ecosystem companions are additionally affected. We’re centered — throughout groups — on assuaging these points as quickly as doable, so Zcash customers have an expertise they count on and deserve. Our fast targets are centered on working with third-party wallets which might be constructed on the ECC SDKs (Edge, Nighthawk, and Unstoppable) to:
Guarantee customers can spend their funds (funds which might be already synced once they open their pockets)Guarantee customers can obtain and spend new incoming funds at a price of a month’s value of transactions in a single hourImplement updates which offer customers readability on syncing progressEnsure none of these wallets are impacted by frequent crashes or inconsistent conduct (akin to failing to show some already synced transactions), nor do they require work-around behaviors because of the ECC SDK
Different success standards for this era
ECC groups agree on the definition or proxy for international ZEC person counts.Analysis and engineering have outlined and communicated a revised three-year roadmap inclusive of person progress targets, proof of stake, and interoperability.
Prioritization and attaining targets
To ship on all this necessary work, ECC has laid out a course of that mandates our management meets each 4 months to revisit technique and roadmap, evaluating information for the present interval and reviewing waypoints. Practical house owners (for instance Steven Smith in Engineering) can be accountable for purposeful roadmaps which might be aligned with the strategic roadmap and for figuring out the place they want cross-team help. Every success standards can be owned by an assigned purposeful proprietor to trace and decide how we (all of ECC) can align to greatest meet the target.
Empowering financial freedom
“Zcash for billions” is a change-the-world imaginative and prescient. Perhaps that’s cliché, however right this moment, too many individuals are compelled to make use of discriminatory, poorly managed, and insecure centralized entities to retailer and switch cash digitally. Too many individuals are compelled to reside inside fiat methods which might be managed by governments that don’t have their constituents’ greatest pursuits at coronary heart. Most cryptocurrencies don’t present satisfactory privateness and safety protections for many use circumstances, and so they expose customers to surveillance which may result in exploitation, manipulation, and seizure.
At this time, billions of individuals on the planet do not need entry to a good and open forex or supporting monetary companies. We construct and help Zcash to drive larger financial freedom and alternative for everybody.
