ChainCatcher news, the Zcash protocol development company Electric Coin Company (ECC) stated in a community forum that the company is initiating a more decentralized process for facilitating Zcash-centered digital property ownership and management. These digital assets include the z.cash website, Zcash technical documentation center, Zcash Twitter account, Cypherpunk Zero website, and assets.The first phase will be to establish a transitional working group composed of ECC representatives and qualified community members. The working group is accepting applications from the community, with a deadline of September 15.The working group will be responsible for: establishing standards for assessing shared ownership models; facilitating open dialogue and idea exchange within the community; selecting the most suitable ownership model and owners based on community feedback; and developing a clear roadmap. This will outline expectations and responsibilities for the new structure, including transitional milestones such as the transfer or opening of technical infrastructure and the establishment of new governance mechanisms.

ChainCatcher news, Zcash developer Electronic Coin Company (ECC) announced a restructuring of the company, laying off 13 employees, about half of its team members.ECC stated that the bear market has impacted its financial situation, limiting its development. The restructuring will focus time and resources on key areas within Zcash, while other work will be transferred to the Zcash community.In the coming weeks, ECC will release a revised roadmap, focusing on empowering ZEC holders and giving them a voice. This includes: creating an excellent user experience for PoS ZEC; developing a wallet by Zcasher that anyone can easily use; a mobile wallet SDK that will be useful for other Zcash builders; and policy work in the U.S. to ensure that ZEC, self-custody, and staking remain viable in the U.S.ECC noted that recent work to address third-party wallet performance issues remains its current top priority, and ECC is committed to releasing zcash 5.6.0, an updated version of lightwalletd, and new iOS and Android mobile SDKs. (source link)

ChainCatcher news, NFT market maker protocol Protecc Labs has completed a $1.5 million seed round financing, led by Dialectic, with participation from UOB Venture Management, Signum Capital, Interlinked Capital, Side Door Ventures, 0xVentures, Kronos Ventures, 3.0 Capital, Concave Ventures, and Cogitent Ventures. (source link)