ZSAs: ECC progress and subsequent steps
In line with ECC’s shift to a market- and user-driven product technique, we proceed to assemble info to information subsequent steps with regard to Zcash Shielded Assets (ZSAs, or UDAs as labeled by the Zcash Foundation). We’ll share that info because it turns into accessible and supply suggestions to the group based mostly upon our evaluation.
Our present efforts embrace:
- financial analysis and modeling that aligns to our mission and the perfect pursuits of ZEC holders
- scientific issues via ECC’s Scientific Advisory Group
- business suggestions
- group suggestions gathered, such because the polling the Zcash Foundation has accomplished with its Zcash Community Advisory Panel (ZCAP)
- ZEC holder suggestions
- regulatory evaluation
- technical implications and danger
- function prioritization evaluation
The intent of this put up is to stipulate the steps we’ve taken and anticipate to absorb the weeks forward. I wish to notice that that is our method at ECC. The Zcash Foundation and others locally could have totally different approaches or priorities.
Current state of knowledge gathering
Economic analysis: As beforehand communicated, ECC has engaged with the Computational Experimental Economics Lab at George Mason University (GMU). During the final couple of months, they’ve been baselining and starting to mannequin totally different approaches and implications of ZSA help. Modeling for the usage of internet hosting charges as a mechanism for offering worth to ZEC holders is underway. Other fashions will comply with and we’ll publish these outcomes when accessible.
Scientific issues: We have met with the world-class ECC Scientific Advisory Group (SAG) on three events to debate numerous concepts and issues. Their concepts and suggestions have been surfaced to GMU to be used in modeling and in help of our analysis on a potential method.
Industry suggestions: To assess market curiosity and suggestions, we have now begun assembly with recognized business members who might need curiosity in issuing ZSAs. It can be a disgrace to do the work to make the ZSA functionality accessible solely to have it fail due to inadequate market curiosity. To date, we have now met with 4 totally different teams and can publish our findings after we full this work. For these excited by issuing ZSAs, we’ll start to have interaction in technical R&D to evaluate how greatest to fulfill their necessities within the protocol.
Zcash Foundation group suggestions: The Zcash Foundation not too long ago launched the outcomes of a ballot of its advisory panel that indicated these polled strongly help the prioritization of ZSAs. Though there are points with the ballot (1, 2), we consider this can be a clear indication of curiosity from the Zcash Foundation ZCAP members, and we thank the muse for offering this necessary knowledge.
ZEC holder suggestions: We not too long ago launched a weblog that outlined our assertion that ZEC holders ought to have a voice and don’t at present have an sufficient mechanism to precise it. We have determined to pursue a path to ballot coin holders in help of our suggestions to the group. While the instruments we have now accessible at this time are rudimentary, we consider our method is an efficient first step to permitting them the choice to precise their beliefs. We plan to conduct a ballot that features ZSAs in late September.
Regulatory evaluation: As we have now been assembly with potential issuers, regulatory questions have come to gentle. Though we haven’t but begun this work, we intend to take a look at regulatory implications of various choices previous to publishing our suggestions to the group.
Technical implications and danger: As talked about above, we’re assessing the technical necessities in live performance with financial modeling, suggestions from the ECC SAG and suggestions from potential issuers. This work is fluid and we’ll present further element in help of suggestions made again to the group.
Feature prioritization: We are evaluating function prioritization for ECC-delivered merchandise based mostly on a bunch of issues together with constructive potential affect for Zcashers and the extent of effort required. Much of the knowledge gained to tell that analysis is printed above. However, our evaluation is extra sturdy than a easy “we should do X first” and contains the extent of effort, ordering of functionality to maximise affect for Zcashers, person expertise issues, market timing, and potential attain.
The ECC workforce is working exhausting on the efforts above to the best extent potential. Our first precedence is the profitable launch of Halo Arc with ecosystem help, our contributions for the profitable activation of NU5, and associated campaigns to bolster these efforts. We strongly want others within the ecosystem to pursue a few of the above work alongside us and welcome the analysis, business engagement, and regulatory views of others. We respect the love and help for our frequent mission of bringing financial freedom and alternative to the world.