ZenCash (ZEN), a privacy-focused blockchain platform designed for transactions and communication, announced today that it has partnered with Infopulse, a Ukrainian software R&D company, to co-develop a number of products, including ZenCash’s flagship Treasury Voting System.
#zencash partners with @infopulseglobal on key R&D projects and to help bring the latest technologies & advancements to the #blockchain industry. Learn more about the partnership: https://t.co/rd4dJTir59
— Horizen (@horizenglobal) June 6, 2018
In the announcement, ZenCash co-founder Robert Viglione highlights the significance of partnering with a development company with a track record like that of Infopulse.
“Infopulse’s software development expertise will prove invaluable to ZenCash as we develop our treasury voting system, one of the flagship features of the Zen platform. Infopulse’s technical insights will also inform future projects and help us make critical updates to ZenCash. With Infopulse’s record of building innovative and sustainable software solutions, we are confident that this partnership will keep ZenCash on the bleeding edge of development in the blockchain space.”
The protocol for ZenCash’s Treasury Voting Model was initially conceived by blockchain development group IOHK, leading ZenCash to approach the company to form a development partnership in early 2018. According to the latest announcement, ZenCash and Infopulse plan to implement a custom model of IOHK’s reference treasury model, which IOHK has been developing in collaboration with Bingsheng Zhang of Lancaster University.
This type of voting model is an important governance addition to ZenCash ecosystem, as it enables ZEN holders to participate in the decision-making for the network. Under the model, proposals are placed in a system, where ideas can be submitted by anyone and voted upon by Zen holders with the weight of votes based on the total stake. This essentially enables ZenCash to function more similar to a Decentralized Autonomous Organization (DAO).
According to the announcement, ZenCash has a functional, proof of concept prototype of the treasury model that is currently undergoing stress testing with different loads of voters ranging from 1,000-100,000 prospective active voters.
Other R&D projects that Infopulse is helping ZenCash with include:
- Scaling protocol simulations
- ZenHide domain fronting
- ZenPub distributed file storage
It has been an eventful past few months for ZenCash. In April, Digital Currency Group founder and CEO Barry Silbert revealed that ZenCash has made it onto the firm’s ‘conviction list,’ which means that they have invested a “meaningful” amount of money into the project. More recently, popular crypto exchange Binance announced its listing of ZenCash on its trading platform, which has since worked to add extra liquidity to the markets.
However, last week, ZenCash was the target of 51% attack which resulted in at least three double spend attacks. Altogether, the attackers stole 23,152 ZEN, worth approximately $700,000 at the time of the attack. The ZenCash team has since made an official announcement detailing multiple technical approaches to better combat such attacks, including the usage of the project’s node system as a sort of notarization service that effectively layers proof-of-stake on top of the current proof-of-work.
ZenCash’s heavy R&D focus is made possible through its ongoing investment strategy, where it takes 8.5% of all mining rewards for platform integrations, engineering, and marketing. Similar to when a public company makes the decision to reinvest cash flows back into R&D instead of stock buybacks, ZenCash aims to create long-term investor value through a product-first approach.
More on ZenCash
ZenCash is a secure and private platform for money, messages, and media. An ambitious project with a strong R&D focus, ZenCash is building out a suite of features for its platform, all with an underlying element of privacy. ZenCash is a fork of Zclassic (itself a fork of Zcash), but with a few distinct differences, namely: secure messaging, a voting and proposal system, and a 12% miners fee for the duration of the project. (more)