Absolutely.
Zcash has many problems and I’ll try to summarize what I think the main ones are:
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Dev Fund (Mis-)Management: The Dev Fund appears to be susceptible to exploitation, with some grant recipients offering questionable value for the magnitude of funding they receive. Zcash Media is a prime case in point; the discrepancy between the grant size received and the subsequent ROI is simply disconcerting.
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Organizational Structure: Organizations purportedly created to bolster the project, such as the Zcash Foundation and the ECC, present themselves as nonprofit entities. However, their actions mirror those of commercial organizations, casting doubt on their authenticity. It’s troubling to see such ostensibly mission-driven entities bear an uncanny resemblance to commercial structures.
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Connection to Least Authority and Team Wilcox: This issue, although often brushed under the carpet, raises significant concerns. Zooko Wilcox’s apparent desire to assume a less prominent role seems inconsistent with the reality. His, and his family members’, continued benefits and influence over the project are perplexing.
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Talent Attrition: Zcash appears to be doing little to retain its talent pool, a crucial factor for any crypto project’s success. Several engineers have transitioned to other projects, such as Worldcoin, BlueSky, Starkware, etc., which arguably indicates a worrying trend of intellectual exodus from the project.
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Community Engagement: The crypto space thrives on vibrant, dynamic communities. Unfortunately, Zcash seems to be wanting in this regard. Discussions across various platforms are often dominated by individuals either severely disadvantaged by their investments, overly-optimistic enthusiasts with limited following, or those who consider Zcash a crypto pariah.
Let’s move onto the illustrative segment of my discourse, where I juxtapose Zcash against what I perceive to be its most direct rival:
Twitter/X:
CoinMarketCap:
CoinGecko:
And how about StockTwits?
Indeed, it’s notable that despite the significant disparity in ROI between Litecoin and Zcash, the latter often finds itself overlooked by the crypto community. In fact, when Zcash does manage to grace someone’s watchlist, it often seems more as a harbinger of a potential shorting opportunity, rather than an attractive long-term investment. This ambivalence towards Zcash, in the face of Litecoin’s success, speaks volumes about the crypto community’s perception and faith in Zcash’s future prospects.
This critique isn’t designed to tear down Zcash but to shine a light on the issues clouding its potential. Let’s face it, the brand is tired, it’s tarnished, it’s barely hanging on. That’s why I urge you to consider this: a complete, no-holds-barred rebrand. Not just a name change, but a full reimagining of what Zcash can be. Remember, a brand is more than just a name; it’s the project’s face, soul, and reputation. So let’s collectively discard the weight of our tarnished past. Through a bold and complete rebrand, let’s chart a vibrant, fresh path for Zcash’s future.