Zcash core development team resigns amid governance dispute

The development team at Electric Coin Company (ECC), the core entity behind Zcash (ZEC), has announced its collective resignation due to a conflict with the Zcash-supporting non-profit Bootstrap, Cointelegraph reported. ECC CEO Josh Swihart stated that a majority at Bootstrap has deviated from Zcash's original objectives and implemented malicious governance measures that hindered the development team's work. He added that he will leave ECC to establish a new company. In contrast, Zcash founder Zooko Wilcox has voiced his support for Bootstrap. The report added that while the Zcash network is operating normally despite the resignations, ZEC's price is declining amid the governance risks. According to CoinMarketCap, ZEC is trading at $459.89, down 2.02% over the last 24 hours.