Electric Coin Company plans to build a new Zcash blockchain

The Electric Coin Company (ECC), the firm behind Zcash ($ZEC) announced its intentions to build a new and more scalable version of the Zcash blockchain, according to reporting by Decrypt. Chief engineer at ECC Nathan Wilcox said that the firm should “make Zcash usable by 10 billion people by 2050” if it can. Decrypt reports that ECC would ensure that coins would be transferred onto the new chain, resulting in a conservation of users’ wealth. The new Zcash chain would also process all transactions privately, in contrast with the current chain where under 2% of the transactions are anonymous.