Zcash Price Surge Draws Criticism from F2Pool Co-Founder

Zcash's recent price surge to nearly $1,130 has drawn criticism from Chun Wang, co-founder of F2Pool. In a statement, Wang described Zcash's funding structure and governance history as problematic, citing the coin's optional privacy model and past vulnerabilities.

The controversy surrounds Zcash's Founders' Reward system, which allocated 20% of early block rewards to founders, employees, investors, and advisers between 2016 and 2020. This arrangement was criticized by Wang, who argued that it did not justify the coin's current valuation.

Zcash developers have since made changes to their funding structure, with 20% of block rewards now going towards ecosystem funding. The network has also undergone an upgrade, Ironwood, which replaced Orchard and introduced a new shielded pool with stronger security measures.