Yesterday, the developer team of Thesis published a new proposal for the ecosystem and the blockchain of Zcash (ZEC) that will have as its ultimate goal the interoperability between blockchains and greater privacy.
I've just published our proposal to the @ZcashFoundation to work alongside the @ElectricCoinCo as a major dev fee recipient, and our vision @thesis_co for Zcash as the privacy layer for the Internet of Money.@zooko beat me to the punch here 👇https://t.co/Z6ceN3pI01
— Matt Luongo (@mhluongo) December 9, 2019
From the relevant GitHub page, it’s clear why Thesis, the team that created tBTC, a sidechain linked to Bitcoin’s blockchain but built on Ethereum, proposed it.
One of the advantages of using the Zcash (ZEC) blockchain is that of private transactions, which can be either enabled or not according to the needs, and thus allow a higher level of privacy than other blockchains such as Bitcoin or Ethereum.
Rather than a roadmap, the Thesis team preferred to list a number of priorities:
- Connecting Zcash to other chains
- Ensuring ZEC is accessible from censorship-resistant DEXs
- Moving toward the orderly deprecation of zcashd.
First, developers will aim to create tZEC, a sidechain anchored to Ethereum, similar to what was done for tBTC, using the latest innovations introduced in Ethereum that facilitate access to DEXs based on the ETH blockchain to create solutions with collateralised assets, as is the case with MakerDAO.
Not to mention the fact that, by applying this proposal, it will also be possible to create a new stablecoin with UDA (user-defined assets).
Along with privacy, the other objective of the proposal is interoperability with other blockchains such as that of Cosmos.
Obviously, for such a project it is necessary to have adequate funds since it will be the developers themselves to take over and develop the whole new system: for this reason, Thesis has proposed to receive 25% of the fees.
Now it’s up to the Zcash Foundation and the users of the blockchain itself to decide whether or not to approve the proposal.
Tomorrow, there will also be a new upgrade for Zcash which will increase the number of transactions supported.