Zcash
Summary
Zcash (ZEC) is a privacy-focused proof-of-work cryptocurrency launched on October 28, 2016, notable as one of the first large-scale deployments of zero-knowledge proofs (zk-SNARKs) outside academia. The project has a transparent organizational history, credentialed academic founders, and a resolved SEC investigation, but has faced significant controversies including a critical counterfeiting vulnerability disclosed in 2019, ongoing governance disputes that caused the entire Electric Coin Company development team to resign in January 2026, and regulatory pressure in multiple jurisdictions resulting in exchange delistings.
Timeline(17 events)
2013-01-01
Academic research into the Zerocoin protocol begins at Johns Hopkins University under Matthew Green, Ian Miers, and Christina Garman.
Zcash - Wikipedia2015-01-01
Zooko Wilcox-O'Hearn forms the Zerocoin Electric Coin Company (later Electric Coin Company) to develop the Zcash protocol.
Who created Zcash? - Z.Cash2016-10-28
Zcash mainnet launches with the Sprout protocol. Six participants conduct a trusted setup ceremony to generate zk-SNARK parameters; one participant uses the pseudonym 'John Dobbertin.'
Zcash - Wikipedia2018-03-01
ECC employee Ariel Gabizon discovers a critical vulnerability allowing infinite counterfeit shielded ZEC creation via the original MPC ceremony transcript. The discovery is kept confidential.
Critical Zcash Bug Could Have Allowed Infinite Counterfeit Cryptocurrency - The Hacker News2018-10-28
Sapling network upgrade activates, covertly patching the counterfeiting vulnerability and significantly improving shielded transaction efficiency.
Zcash Counterfeiting Vulnerability Successfully Remediated - Zcash blog2019-02-05
Electric Coin Company publicly discloses the counterfeiting vulnerability, approximately seven months after its discovery and four months after the patch was deployed.
A critical counterfeiting vulnerability addressed in Zcash - Security Affairs2020-11-01
Canopy network upgrade activates. The original four-year Founders' Reward expires. ZIP 1014 takes effect, directing 20% of block rewards to ECC (7%), Zcash Foundation (5%), and Major Grants (8%).
ZIP 1014: Establishing a Dev Fund for ECC, ZF, and Major Grants2020-01-01
Electric Coin Company becomes a wholly owned subsidiary of the Bootstrap Project, a 501(c)(3) nonprofit.
Zcash - Wikipedia2022-04-27
Zcash Media reveals that Edward Snowden participated in the 2016 trusted setup ceremony under the pseudonym 'John Dobbertin.' Snowden confirms this in an exclusive interview.
Edward Snowden revealed as John Dobbertin - PR Newswire2022-05-01
Network Upgrade 5 (NU5) activates, introducing the Orchard shielded protocol and the Halo 2 proving system, which requires no trusted setup.
Technical explainer: Halo on Zcash - Electric Coin Company2023-08-31
The Zcash Foundation receives a formal SEC subpoena under the inquiry 'In the Matter of Certain Crypto Asset Offerings (SF-04569).' The existence of the investigation is not publicly disclosed at this time.
Notice Concluding SEC Investigation - Zcash Foundation2023-09-15
Coinbase flags that mining pool ViaBTC controls over 51% of Zcash's network hash rate (peaking at approximately 53%). Coinbase increases ZEC deposit confirmation requirements and restricts trading to limit-only.
Mining pool ViaBTC controls over 51% of Zcash hash rate - Blockworks2023-12-18
Zooko Wilcox-O'Hearn steps down as CEO of the Electric Coin Company; Josh Swihart succeeds him.
Zcash Developer Team Resigns - Yahoo Finance2025-04-10
Binance includes ZEC in a 'Vote to Delist' community campaign. ZEC receives 8.6% of votes (second-highest), drawing industry criticism. Binance states the vote is not the sole determinant of delisting decisions.
Industry Heavyweights Weigh in on Binance's Potential Zcash delisting - CoinDesk2026-01-07
The entire Electric Coin Company development team resigns following an alleged governance dispute with Bootstrap board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai. ZEC falls approximately 14-20%.
ZEC News: Zcash developer team behind ECC quits after governance clash with Bootstrap board - CoinDesk2026-01-14
Zcash Foundation publicly discloses that the SEC closed its two-and-a-half-year investigation without recommending enforcement action or changes. ZEC rallies approximately 10-14%.
Notice Concluding SEC Investigation - Zcash FoundationDecision Log
- hash: F8hnA1GCYkkKTtJtpo6nMC2k9HYhruVewyHugteob4Ew
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/12/2026, 9:25:12 PM
last updated: 5/14/2026, 6:02:57 AM
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