This article was first published on Horizen
There is so much work that the Horizen community and team has already done toward building a successful cryptocurrency project! From the very beginning, the Treasury funds have been spent on software development, research projects, team development, and user engagement to bring to the world a unique creation.
- Much of the research and modeling done by IOHK on the Treasury governance system is ready for implementation.
- The sidechains on which the Treasury app and distributed node tracking and payment system will run are in active development, along with the SDK for third party developers.
- The Sphere by Horizen user application is just about ready for release.
- zk-SNARK improvements from Zcash will be integrated.
- And the BlockDAG research by IOHK is almost complete!
That’s four major software development projects that are part of Horizen that still need work. When that is done Horizen will be a fully functioning reliable privacy platform controlled by the owners of ZEN. But we are not there yet. We need more funds for development and ongoing operations.
In parallel with the development, we also need to build privacy ecosystems of users and merchants, providing guidance, documentation, and assistance for them to use the platform together.
In increasing the amount of Treasury block rewards from 10% to 20%, a difficult choice was made by the team to reduce the amount of rewards for the miners.
After the change, miners will earn 60% of new block rewards. The others who earn ZEN are Secure/Super node operators and recipients of Treasury funds via the non-profit Zen Blockchain Foundation. All the Treasury funds are spent to help improve the project, none are kept in reserve. The change ...
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