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Update Blocktown ZIP Draft for Dev Fund

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JamesTodaroMD 2019-08-31 08:17:11 -04:00 committed by Daira Hopwood
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Blocktown ZIP Draft for Dev Fund
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<body>
<section>
<pre>ZIP: Unassigned {numbers are assigned by ZIP editors}
Title: Blocktown ZIP: 10% of the block reward to a 2-of-3 multisig agreement
Owners: James Todaro, james@blocktown.capital; Joseph Todaro, joseph@blocktown.capital
Owners: James Todaro &lt;james@blocktown.capital&gt;
Joseph Todaro &lt;joseph@blocktown.capital&gt;
Status: Draft
Discussion: Zcash Forum, <a href="https://forum.zcashcommunity.com/t/blocktown-development-fund-proposal-10-to-a-2-of-3-multisig-with-community-involved-third-entity">Blocktown ZIP Draft</a>
Discussion: Zcash Forum <a href="https://forum.zcashcommunity.com/t/blocktown-development-fund-proposal-10-to-a-2-of-3-multisig-with-community-involved-third-entity">Blocktown ZIP Draft</a>
Category: Consensus
Created: 2019-08-30
License: MIT
Terminology
The key words “MUST”, “SHOULD”, “SHOULD NOT”, “MAY”, “RECOMMENDED”, “OPTIONAL”, and “REQUIRED” in this document are to be interpreted as described in RFC 2119 [1].
The additional terms below are to be interpreted as follows:
• Mining refers to the actions of processing transactions, which include processing transactions in a Proof-of-Stake or Proof-of-Work/Proof-of-Stake hybrid system, in the event Zcash implements either at a future date.
• Mining software refers to pool software, local mining software or staking software.
• Mining rewards or block rewards refer to both network transaction fees and coinbase rewards (e.g. newly issued ZEC associated with block generation).
• Network Upgrade refers to any change to the Zcash software, introduced as part of the standard Zcash Network Upgrade Pipeline [2] or otherwise.
• Founder’s Reward refers to the 20% ZEC from mined blocks allocated to the Electric Coin Company (ECC), Zcash Foundation (ZF), employees, investors and/or other entities prior to the expected first halving in October 2020.
• Zcash Development Fund refers to transparent address(es) controlled jointly by the Electric Coin Company, Zcash Foundation, and a “Third Entity”. The fund is intended for research, development, maintenance, and other technical work directly connected to the Zcash protocol, as well as non-technical initiatives (including design, marketing, events, regulatory outreach, education, governance, and any other form of business or community development) that contribute to the long-term success of the Zcash network. In the context of this proposal, the Zcash Development Fund consists of 10% of newly issued ZEC from block rewards between the first and second halvings of the Zcash network.
• Applicant refers to any individual, group, or entity that seeks funding from the Zcash Development Fund.
• Recipient refers to any individual, group, or entity that receives funding from the Zcash Development Fund.
License: MIT</pre>
<section id="terminology">
<h2>Terminology</h2>
<p>The key words “MUST”, “SHOULD”, “SHOULD NOT”, “MAY”, “RECOMMENDED”, “OPTIONAL”, and “REQUIRED” in this document are to be interpreted as described in RFC 2119 [1].</p>
<p>The additional terms below are to be interpreted as follows:</p>
<dl>
<dt>Mining</dt>
<dd>The actions of processing transactions, which include processing transactions in a Proof-of-Stake or Proof-of-Work/Proof-of-Stake hybrid system, in the event Zcash implements either at a future date.</dd>
<dt>Mining software</dt>
<dd>Pool software, local mining software or staking software.</dd>
<dt>Mining rewards / Block rewards</dt>
<dd>Network transaction fees and/or coinbase rewards (e.g. newly issued ZEC associated with block generation).</dd>
<dt>Network upgrade</dt>
<dd>Any change to the Zcash software, introduced as part of the standard Zcash Network Upgrade Pipeline [2] or otherwise.</dd>
<dt>Founder’s Reward</dt>
<dd>The 20% ZEC from mined blocks allocated to the Electric Coin Company (ECC), Zcash Foundation (ZF), employees, investors and/or other entities prior to the expected first halving in October 2020.</dd>
<dt>Zcash Development Fund</dt>
<dd>Transparent address(es) controlled jointly by the Electric Coin Company, Zcash Foundation, and a “Third Entity”. The fund is intended for research, development, maintenance, and other technical work directly connected to the Zcash protocol, as well as non-technical initiatives (including design, marketing, events, regulatory outreach, education, governance, and any other form of business or community development) that contribute to the long-term success of the Zcash network. In the context of this proposal, the Zcash Development Fund consists of 10% of newly issued ZEC from block rewards between the first and second halvings of the Zcash network.</dd>
<dt>Applicant</dt>
<dd>Any individual, group, or entity that seeks funding from the Zcash Development Fund.</dd>
<dt>Recipient</dt>
<dd>Any individual, group, or entity that receives funding from the Zcash Development Fund.</dd>
Abstract