Zooko Wilcox is now the new head of product at Shielded Labs and wants to speed up the protocol's upgrade to a hybrid PoS consensus mechanism.
The founder of privacy coin Zcash, Zooko Wilcox, is looking to accelerate the protocol’s upgrade to a hybrid proof-of-stake system after joining Shielded Labs.
In a blog post on Aug. 10, Zooko Wilcox, Zcash founder and now new head of product at Shielded Labs, said that after eight years of using proof-of-work mining, the privacy currency needs to be upgraded to a hybrid proof-of-stake system.
He noted that PoW consensus and the creation of new ZEC coins had put downward pressure on its price, “but this is expected to ease as the rate of new coin creation reduces.”
