Electrical Coin Corporate (ECC) has donated the Zcash trademark to the Zcash Basis. ECC created and introduced the privacy-focused cryptocurrency Zcash (ZEC) in 2016, and can now personal the trademark bilaterally with the corresponding basis.
ECC and the Zcash Basis had been in negotiations since August
Upon an settlement signed on Nov. 6, the Zcash Basis can be financially liable for prices related to assigning and protective the trademark.
Pronouncing the inside track, the Zcash Basis discussed the present confrontation with ECC over the trademark’s long term. The basis famous that it returned to negotiations with ECC after failing to succeed in an settlement in overdue August 2019, right through the Zcash Group Discussion board.
ECC logged over 500 hours and spent $250,000 at the trademark
ECC defined that the trademark settlement is necessary as it protects recognition and separates one product from some other. The company stated Zcash’s trademark protects the group from scams and brings criminal energy to Zcash’s blockchain governance.
Consistent with ECC, the donation permits them to clear up two fundamental issues — to honor and enhance the Zcash group’s comments, and to additional decentralize the group. The Zcash Basis famous that the settlement maintains interoperability with same old criminal and trade frameworks.
Cointelegraph reported in October on a doubtlessly malicious counterfeit model of Zcash Basis’s local ZecWallet. The settlement by means of ECC and the Zcash Basis show their dedication to stop such circumstances.
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