Zcash developers unveil cashZ wallet after ECC exit

Former Electric Coin Company staff have announced plans to launch a new Zcash wallet, dubbed cashZ, shortly after departing the organisation.

Former ECC chief executive Josh Swihart said the team that built Zcash and the Zashi wallet is developing the new product using the same codebase.

Swihart said the cashZ wallet is expected to launch within weeks and will allow Zashi users to migrate seamlessly.

The developers exited Electric Coin Company following disputes over nonprofit governance and organisational constraints.

The entire team that worked at Electric Coin Company and built Zashi is still 100% focused on full-stack Zcash development.

Josh Swihart said.

We aren't launching any new coins, we're just scaling Zcash.

Josh Swihart said, adding that leaving was necessary to move faster.

Swihart said the new company aims to restore Zcash’s cypherpunk roots and operate without bureaucratic limitations.

He argued that privacy in crypto should be treated like physical cash and defended the need for faster decision-making.

Swihart said nonprofits prioritise rule-following, while startups are better suited for innovation and scaling.

The developers said Zcash must evolve to compete with larger blockchain networks as it matures beyond a small project.

ZEC fell more than 21% following the upheaval before staging a modest rebound to around $430 in early Friday trading.

At the time of reporting, Zcash price was $433.69.