Zcash founder joins Shielded Labs and seeks to promote the hybrid PoS upgrade

Golden Finance reported that Zooko Wilcox, the founder of Privacy Coin Zcash, is seeking to accelerate the upgrade of the protocol to a hybrid Proof of Stake system after joining Shielded Labs as the product manager. Shielded Labs is an independent organization based in Switzerland dedicated to supporting Zcash. Wilcox recently stated that after 8 years of using PoW Mining, Zcash needs to upgrade to a hybrid PoS system. He pointed out that PoW Consensus and issuance of new coins have brought downward pressure on its price, ‘but with the decrease in the speed of new coin issuance, this pressure is expected to ease.’ The two major upcoming improvements mentioned by Wilcox include deploying the Zcash Sustainable Development Fund and upgrading to ‘Crosslink’, a hybrid PoW and PoS protocol. He said, ‘We hope to deploy this technology as quickly as possible while maintaining Zcash’s good security record.’ The benefits of the upgrade include allowing ZEC holders to stake, providing finality to protect users from rollback attacks, reducing transaction time, and allowing for more secure bidirectional bridging to other networks. However, Wilcox did not provide detailed technical details or a timetable for the upgrade.