This is correct, and as recent history shows, the potential PR sell for the Halo upgrade was badly bungled up. The schedule delayed so many times that the crypto industry seemingly lost interest. In the meantime, it is obvious that there was never a product delivery plan… something that could boil down and add some excitement to what had happened. Hearing a software engineer occasionally mention trusted setups are bad in a podcast or an interview did not really churn up a mainstream understanding about how huge of an advancement Halo was.
In the approach to Proof of Stake, we’ve got to make the Electric Coin Company accountable to the creation and execution of a product delivery plan. The ECC is spending too much resources not to responsibly bring this to market with an impact and results focused strategy.
Similar to the above, there is too much at stake for Zcash to fail because its never been treated like a serious business endeavor with an appetite to dominate. Part of the criteria for success must be the valuation of ZEC. Users of ZEC are in a primary sense investing their money because they are under an unwritten agreement that ZEC is a valuable asset that will accrue value over time. The ZEC performance of recent years has left many if not all ZEC users with bad losses.
I find it in bad judgement that ECC is spending such a large amount of focus, energy, and capital on all of these contemporary and unmeasurable lobbying efforts. The ZEC from the Dev Fund are to fuel the Zcash ecosystem success for decades into the future! I’m totally stumped that so much is being sunken into these short sighted and materially value-neutral activities (that the community has no influence over). I worry that the ECC lobbying efforts in America could be biased to their organizations regulatory risk concerns.… brokering potentially unregistered securities in America could carry very significant consequences if the SEC were to take those actions. Look at what has been happening to Library Coin.
Zcash is a global, and presumably nation-state neutral, ecosystem so its tough to try and logically validate the over emphasis on spending so much in these short sighted American political adventures.
In a post-Dev Fund world, I would be much less concerned about how the ECC were prioritizing American political lobbying because those resources spent wouldn’t be under the presumptions of the common values espoused as why the Dev Funding solution exists in the first place.
In a post Dev Fund world, we won’t have to hear all of the negative feelings about Zcash as an insider’s honeypot et et al. Post Dev Fund is the ecosystem that Zcash is ready for in November 2024!