Zcash publishes transparency report for second semester

The company Electric Corner , which supports cryptocurrency Zcash recently released a report of transparency on the financial activities of the brand in the second quarter the company relating to the general situation and the details of the income, expenditure and use of funds.

An efficiency

In the new semi-annual report of 2018, Electronic Coin mentions that with a price of $ 60 for the ZEC digital currency, it holds the necessary funds to hold until October 2020.

In addition, 4.2% of Zcash's mining yields will be allocated to employees of the company starting in 2019.

The company's monthly salary is around 9,167 ZECs, according to Zcash CEO Zooko Wilcox, who himself would inherit 2,000 euros a month.

Thus, these rewards will be removed for leaders starting in June to stabilize the company's finances.

https://twitter.com/zcashco/status/1128415717471207425

Staggering expenses

In the same document, the report announces a significant financial deficit resulting from an operating cost of $ 700,000 per month in fiscal year 2018, supported by a payment of $ 180,000, followed by investments in R & D, auditing and auditing. , trademark protection and regulatory relationships.

The price change during the second quarter of 2018 also impacted ZEC's financial activities.

The document recalls that Zcash's platform lacks the deflationary benefits of Bitcoin, exposing it to high investment risk.

What do you think of this transparency report published by Electronic Coin? Comment in the comments section.