Zcash Founder Leads Push for Hybrid Proof-of-Stake Upgrade

Zooko Wilcox, now with Shielded Labs, aims to enhance Zcash's privacy and efficiency.

Zcash founder Zooko Wilcox has joined Shielded Labs as the new head of product, with a focus on accelerating Zcash's transition to a hybrid proof-of-stake (PoS) system. In an August 10 blog post, Wilcox emphasized the need to upgrade from the existing proof-of-work (PoW) mining system, citing potential benefits like staking, enhanced security, and faster transactions. Shielded Labs will collaborate with the Electric Coin Company (ECC) to implement "Crosslink," a hybrid PoW/PoS protocol, with support from prominent Zcash backers including the Winklevoss twins and Vitalik Buterin.

Wilcox’s move from the Electric Coin Company to Shielded Labs reflects his commitment to advancing Zcash's technology and addressing the price pressures caused by PoW. The planned upgrades include the Zcash Sustainability Fund and the Crosslink protocol, which aims to provide finality against rollback attacks and facilitate safer cross-network bridges.

However, specific technical details and a timeline for the upgrade are yet to be disclosed. Zcash, launched in 2016, continues to face challenges, including its delisting from major exchanges due to regulatory scrutiny, but has seen recent price gains of 40% in the past week, trading at over $41.

photo source / Blockonome