mirror of https://github.com/zcash/zips.git
Clean up the narrative language
This commit is contained in:
parent
885f99b30a
commit
46dcc1a626
52
zip-XXXX.rst
52
zip-XXXX.rst
|
@ -16,18 +16,20 @@ Who am I?
|
||||||
|
|
||||||
My name is Matt Luongo. I'm an entrepreneur who's been full-time in the crypto
|
My name is Matt Luongo. I'm an entrepreneur who's been full-time in the crypto
|
||||||
space since 2014, co-founding Fold, a Bitcoin payments company, and more
|
space since 2014, co-founding Fold, a Bitcoin payments company, and more
|
||||||
recently Keep, a private computation startup built on Ethereum. I've built some
|
recently Keep, a private computation startup built on Ethereum. At Keep, we've
|
||||||
`around Zcash <https://github.com/ethereum/EIPs/pull/2129>`_, and we've
|
done some `work around Zcash <https://github.com/ethereum/EIPs/pull/2129>`_,
|
||||||
considered investing more heavily in Zcash development on our latest project.
|
and our parent company, `Thesis <https://thesis.co>`, is considering investing
|
||||||
|
more heavily in Zcash development for our latest project.
|
||||||
|
|
||||||
I'm deeply interested in privacy tech. For me, privacy is about consent --
|
I'm deeply interested in privacy tech. For me, privacy is about consent --
|
||||||
consent to know my habits, beliefs, and preferences -- and I see privacy as
|
consent to share my habits, beliefs, and preferences -- and I see privacy as
|
||||||
the next frontier in our pursuit of an economy that respects individual choice.
|
the inevitable next frontier in our pursuit of an economy that respects
|
||||||
|
individual choice.
|
||||||
|
|
||||||
My perspective is as the founder of a for-profit company focused on building
|
My perspective is as the founder of a for-profit company focused on building
|
||||||
self-sovereign technologyi who would like to develop on Zcash. We work in this
|
self-sovereign technology who wants to develop on Zcash. We work in this space
|
||||||
space ideologically, but our work isn't free; attracting and growing talent
|
ideologically, but our work isn't free; attracting and growing talent requires
|
||||||
requires funding.
|
funding.
|
||||||
|
|
||||||
If you're interested in more on my background, I've introduced myself more
|
If you're interested in more on my background, I've introduced myself more
|
||||||
`properly on the forum
|
`properly on the forum
|
||||||
|
@ -56,19 +58,22 @@ We're all here to build a robust, private, decentralized currency. But in the
|
||||||
dev fee proposals I've seen so far, the idea of a Zcash narrative that
|
dev fee proposals I've seen so far, the idea of a Zcash narrative that
|
||||||
distinguishes it from the competition is absent.
|
distinguishes it from the competition is absent.
|
||||||
|
|
||||||
One direction proposed in ZIP XYZ claims that Zcash is a hedge against Bitcoin's
|
Of the slew of ZIPs addressing Zcash's future, there's only been one strong
|
||||||
|
narrative case -- the idea that Zcash exists purely as a hedge against Bitcoin's
|
||||||
long-term privacy failure. Put simply, Zcash is "Bitcoin, but private".
|
long-term privacy failure. Put simply, Zcash is "Bitcoin, but private".
|
||||||
|
|
||||||
I believe that Zcash should aim higher. Only one coin has successfully made a
|
Zcash should aim higher. Bitcoin is the only coin that has successfully made a
|
||||||
store of value argument, which I like to call "worse is better". Don't upgrade
|
store of value argument, which I like to call "worse is better". Don't upgrade
|
||||||
the network -- stability is more important than solving today's problems.
|
the network -- the argument goes -- stability is more important than solving
|
||||||
Bitcoin is chasing the Lindy effect, where worse is better, and that's great for
|
today's problems. Bitcoin is chasing the `Lindy
|
||||||
Bitcoin. For the rest of us, though, better is better. Zcash *should be better*.
|
effect<https://en.wikipedia.org/wiki/Lindy_effect>`, where worse is better, and
|
||||||
|
the network becomes stronger every day it survives. That's great for Bitcoin.
|
||||||
|
For the rest of us, though, better is better. Zcash *should be better*.
|
||||||
|
|
||||||
Zcash is known for having the best tech in the space, built by one of the best
|
Zcash is known for having the best tech in the space, built by one of the best
|
||||||
team's in the space. We should lean in to that reputation, nurturing the best
|
team's in the space. We should lean in to that reputation, nurturing the best
|
||||||
research and engineering talent to take Zcash to the next level, leveraging a
|
research and engineering talent to take Zcash to the next level, and leveraging
|
||||||
Zcash dev fee as a differentiator to build the world's best private medium of
|
a Zcash dev fee as a differentiator to build the world's best private medium of
|
||||||
exchange.
|
exchange.
|
||||||
|
|
||||||
Evolving Zcash Governance
|
Evolving Zcash Governance
|
||||||
|
@ -77,7 +82,7 @@ Evolving Zcash Governance
|
||||||
Principles of cryptocurrency governance
|
Principles of cryptocurrency governance
|
||||||
---------------------------------------
|
---------------------------------------
|
||||||
|
|
||||||
Most proof-of-work chains today have three major governing roles
|
Most proof-of-work chains today have three major governing roles:
|
||||||
|
|
||||||
1. Miners validate and secure the chain. They do some work to earn a reward.
|
1. Miners validate and secure the chain. They do some work to earn a reward.
|
||||||
Miners are the first owners of newly minted coins, and are an integral part
|
Miners are the first owners of newly minted coins, and are an integral part
|
||||||
|
@ -109,7 +114,7 @@ the chain.
|
||||||
The state of play
|
The state of play
|
||||||
-----------------
|
-----------------
|
||||||
|
|
||||||
In Zcash, the addition of the Electic Coin Company (ECC) and the Zcash
|
In Zcash, the addition of the Electric Coin Company (ECC) and the Zcash
|
||||||
Foundation skew this balance.
|
Foundation skew this balance.
|
||||||
|
|
||||||
Both organizations are comprised of Zcash founders, developers, researchers, and
|
Both organizations are comprised of Zcash founders, developers, researchers, and
|
||||||
|
@ -147,10 +152,7 @@ well as both entities.
|
||||||
The "crowding out" problem
|
The "crowding out" problem
|
||||||
--------------------------
|
--------------------------
|
||||||
|
|
||||||
The last issue arising from this scheme is the one I'm most incentivized to
|
The Zcash ecosystem, as it exists today, leaves little incentive for outside
|
||||||
address.
|
|
||||||
|
|
||||||
The Zcash ecosystem, as it exists today, has little incentive for outside
|
|
||||||
developers to participate.
|
developers to participate.
|
||||||
|
|
||||||
Zcash development has a high learning curve.
|
Zcash development has a high learning curve.
|
||||||
|
@ -170,8 +172,8 @@ frustrated by the lack of longer-term funding. For evidence, look at Parity's
|
||||||
exit from Zcash after `zebrad` development, or Summa's struggles to work on
|
exit from Zcash after `zebrad` development, or Summa's struggles to work on
|
||||||
Zcash.
|
Zcash.
|
||||||
|
|
||||||
Sustainably attracting talent to Zcash can increase innovation *and* ecosystem
|
Sustainably attracting talent to Zcash is critical to maintain innovation and
|
||||||
resilience.
|
build resilience.
|
||||||
|
|
||||||
Moving Forward
|
Moving Forward
|
||||||
==============
|
==============
|
||||||
|
@ -191,7 +193,7 @@ A few proposals have suggested the introduction of a mysterious "third entity"
|
||||||
to resolve disagreements between the Foundation and the ECC.
|
to resolve disagreements between the Foundation and the ECC.
|
||||||
|
|
||||||
I prefer a different approach, refocusing the role of the Foundation and making
|
I prefer a different approach, refocusing the role of the Foundation and making
|
||||||
room for the ECC to innovate alongside outside developers.
|
room for the ECC to work with a robust developer ecosystem.
|
||||||
|
|
||||||
In this proposal, the Foundation shall support community development through
|
In this proposal, the Foundation shall support community development through
|
||||||
running the forum and events, gathering community sentiment, managing short-term
|
running the forum and events, gathering community sentiment, managing short-term
|
||||||
|
@ -213,7 +215,7 @@ working to maintain clients.
|
||||||
governance. The principal developer allocation shall be capped similarly to
|
governance. The principal developer allocation shall be capped similarly to
|
||||||
the Foundation's at $500k per month based on a volume-weighted average price.
|
the Foundation's at $500k per month based on a volume-weighted average price.
|
||||||
* The remaining two thirds of the fee (50% of the total), called the "outside
|
* The remaining two thirds of the fee (50% of the total), called the "outside
|
||||||
development fee", shall be distributed between at least two developers,
|
development fee", shall be distributed between at least two development teams,
|
||||||
chosen semi-annually by the Foundation. Unlike those of the Foundation and
|
chosen semi-annually by the Foundation. Unlike those of the Foundation and
|
||||||
principal developer, these allocations aren't limited by market conditions,
|
principal developer, these allocations aren't limited by market conditions,
|
||||||
and don't carry a burn requirement.
|
and don't carry a burn requirement.
|
||||||
|
|
Loading…
Reference in New Issue