From the Bootstrap Board of Administrators:
Zcash is at an inflection level. With a extra decentralized Zcash contributor mannequin taking form and a brand new improvement fund hanging within the stability, with crypto and privateness on the lips of coverage makers, regulators, candidates for public workplace, fans, and on a regular basis residents, the way forward for Zcash — and maybe financial freedom on the entire — could also be gained or misplaced by the actions we, as a group, take now.
That’s why we had been excited when Zooko Wilcox advised us he’s able to pour his vitality into a brand new position inside the Zcash universe. (Juicy announcement coming quickly!)
On this transition, Zooko will go away his place as Government Director of Bootstrap, and his seat on the board. That is bittersweet information for us, provided that Zooko shaped and led the workforce that constructed Zcash and is essentially liable for inspiring an lively tradition and group round Zcash and the higher crypto universe.
However Bootstrap’s loss is the Zcash group’s acquire. Whereas we’ll miss his management at Bootstrap, we’re thrilled that he’s refocusing his work on Zcash elsewhere, persevering with to contribute his one-of-a-kind expertise and vitality to constructing momentum in a brand new undertaking, additional decentralizing improvement, and fortifying Zcash resilience.
Zooko is an unique cypherpunk, impressed by and galvanizing to cryptographers, laptop scientists, and privateness advocates — like Hal Finney, Phil Zimmerman, and Satoshi Nakamoto, to call a number of, who from the early and mid-90s had been engaged on new programs and applied sciences for social change.
Zooko has contributed to an array of initiatives since then, together with Fairly Good Privateness, DigiCash, Mojo Nation, ZRTP, Tahoe-LAFS, BLAKE2, BLAKE3, and SPHINCS. He’s greatest generally known as CEO and founding father of Electrical Coin Co., the workforce of scientists and engineers that launched the Zcash cryptocurrency. (In case you are studying this weblog, you virtually actually learn about Zcash, a digital forex that retains all of your monetary data non-public and in your management.)
Zcash and zero-knowledge proofs
At ECC, Zooko and workforce delivered in Zcash the primary sensible, real-world implementation of zero-knowledge proofs (ZKPs). Whereas the concept of ZKPs has been round for the reason that Nineteen Eighties, ECC delivered the first-ever profitable implementation, making a watershed second for a groundbreaking concept.
The preliminary launch, in 2016, used ZKPs that required 40 seconds and GBs of PC RAM to course of. However inside two years, ECC optimized the code to deliver the processing necessities down considerably — low sufficient to permit for the primary ever non-public zero-knowledge transactions on cellular units.
In 2019, ECC’s Sean Bowe found one other game-changing zero-knowledge innovation: Halo, a novel approach for creating sensible, scalable, and trustless cryptographic proving programs. This discovery ended an virtually decade-long pursuit by the cryptography group. The Halo proving system eliminates protocol reliance on so-called “trusted setups” and supplies a catalyst for Zcash consumer confidence and scalability whereas making the protocol extra engaging, quicker, and cheaper for others to construct on.
The significance of ECC’s work on ZKPs, underneath Zooko’s management, can’t be overstated. These instruments have revolutionized information privateness and safety and are actually pervasive within the crypto world and past — primed to be used in crucial industries that contact everybody’s lives, resembling finance, well being care, voting programs, community safety and authentication, and extra.
At a look
Zooko’s work has helped develop Zcash right into a broadly adopted digital forex, supported by high-quality monetary establishments and crypto firms around the globe, together with closely regulated US-based exchanges resembling Gemini and Coinbase. Largely due to Zooko, Zcash is now probably the most battle-tested and trusted cryptocurrencies in existence. Zcash tech can be the cornerstone of revolutionary use instances like privateness preserving sensible contacts and ZK rollups, which can change into foundational instruments for particular person energy and company in tomorrow’s world.
At ECC and Bootstrap, Zooko:
- Led ECC by greater than 70 separate Zcash releases
- Oversaw 6 main Zcash community upgrades
- Contributed to the greater than 10,000 commits to the Zcash codebase
- Noticed ~3,000 points in Zcash fastened
- Noticed Zcash forked greater than 2,000 occasions
- Had the Zcash codebase audited dozens of occasions, by world-class groups together with Qedit, Least Authority, NCC Group, Path of Bits, and Coinspect
- Watched the Zcash shielded swimming pools develop to carry 1,500,000 ZEC
- Helped Zcash get added to each main crypto alternate on the planet
- Helped remediate crucial vulnerabilities in Zcash just like the Faerie Gold assault (pre-launch), the main counterfeiting bug in 2019, and the reminiscence exhaustion bug in 2023
- With different Zcash founders, donated 273,000 ZEC (which included 33 p.c of his allotted share of the Founders Reward) to ascertain the non-profit Zcash Basis
- Delivered core improvements in Zcash, which have been carried out by innumerable initiatives
- The trusted setup, then the trustless setup
- The Dev Fund
- Decentralized encrypted transactions
- Encrypted memo discipline
- Unified addresses
- Viewing keys
- Spoke at numerous occasions, on panels, podcasts, and workshops
- Made crucial sustaining investments on behalf of ECC in initiatives like Agoric and Starkware
- Consumed a whole bunch of kilos of steak 🥩
- Blocked, unblocked, after which re-blocked a number of X/Twitter profiles 😆
Zooko’s affect on Zcash, the ecosystem, and the group is with out parallel, and we’re excited to see his work proceed. Godspeed, Zooko. We’re indebted to you, and we’re relying on you.
