The company was founded in 2014 as a limited liability corporation. Since that time, the official name of the Electric Coin Company has remained the Zercocoin Electric Coin Company, LLC. The use of the name “Zcash Company” has been used by members of the Zcash Foundation and the Zcash Community. It appears that usage of this name may have caused confusion, and the new name has been introduced to increase clarity.
The announcement has stressed that the Zcash Foundation is distinct from the Electric Coin Company. Additionally, the cryptocurrency Zcash (ZEC) is distinct from both.
The Electric Coin Company supports the development, usage, and adoption of Zcash as a for-profit company. Included within the company is a number of scientists, engineers, business executives, and others. On the other hand, the Zcash Foundation is a distinct organization. It functions as a 501(3)c non-profit corporation. Both actively engaged in working toward the adoption of Zcash within general society.
The name of Zcash, the cryptocurrency, will not change. It will still trade as it always traded. Furthermore, it is presumed that it will retain the ticker symbol ZEC. Furthermore, the legal name of the Zerocoin Electric Coin Company, LLC. will also be retained. The only change is that the so-called Zcash Company will begin referring to itself as the Electric Coin Company.
Nothing else about Zcash is changing.
Do you think the change in name will accelerate the mass adoption of Zcash? Let us know what you think in the comments below!