2019-09-27 11:22:09 -07:00
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::
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ZIP: Unassigned
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Title: Decentralize the Dev Fee
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Owners: Matt Luongo <matt@thesis.co>
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Status: Draft
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Category: Process
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Created: 2019-09-27
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License: MIT
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2019-09-27 11:45:27 -07:00
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Motivation
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==========
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Who am I?
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---------
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My name is Matt Luongo. I'm an entrepreneur who's been full-time in the crypto
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space since 2014, co-founding Fold, a Bitcoin payments company, and more
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recently Keep, a private computation startup built on Ethereum. I've built some
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`around Zcash <https://github.com/ethereum/EIPs/pull/2129>`_, and we've
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considered investing more heavily in Zcash development on our latest project.
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I'm deeply interested in privacy tech. For me, privacy is about consent --
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consent to know my habits, beliefs, and preferences -- and I see privacy as
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the next frontier in our pursuit of an economy that respects individual choice.
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My perspective is as the founder of a for-profit company focused on building
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self-sovereign technologyi who would like to develop on Zcash. We work in this
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space ideologically, but our work isn't free; attracting and growing talent
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requires funding.
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If you're interested in more on my background, I've introduced myself more
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`properly on the forum
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<https://forum.zcashcommunity.com/t/introducing-matt-luongo-from-keep/34947>`_.
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What's this about?
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------------------
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Since Zcon1, I've been looking to fund work to build an Ethereum / Zcash bridge.
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I've spoken to the ECC, the Zcash Foundation, and a number of early Zcash
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community members on how best to move forward with this project, and in the
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process I've learned a lot about how the community works and dev governance has
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been structured thus far.
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Inevitably, I've become interested in the community's proposals for a new dev
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fee, and thought about how the right structure might support work like ours.
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I believe the Zcash community has an opportunity to deploy a new incentive
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structure that will attract companies like ours to build and improve Zcash,
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leading to a more resilient network, stronger technology, and wider usage.
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2019-09-27 12:01:38 -07:00
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The Zcash Narrative
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-------------------
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We're all here to build a robust, private, decentralized currency. But in the
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dev fee proposals I've seen so far, the idea of a Zcash narrative that
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distinguishes it from the competition is absent.
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One direction proposed in ZIP XYZ claims that Zcash is a hedge against Bitcoin's
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long-term privacy failure. Put simply, Zcash is "Bitcoin, but private".
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I believe that Zcash should aim higher. Only one coin has successfully made a
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store of value argument, which I like to call "worse is better". Don't upgrade
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the network -- stability is more important than solving today's problems.
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Bitcoin is chasing the Lindy effect, where worse is better, and that's great for
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Bitcoin. For the rest of us, though, better is better. Zcash *should be better*.
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Zcash is known for having the best tech in the space, built by one of the best
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team's in the space. We should lean in to that reputation, nurturing the best
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research and engineering talent to take Zcash to the next level.
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