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 were in negotiations since August
Upon an settlement signed on Nov. 6, the Zcash Basis might be financially accountable for prices related to assigning and protective the trademark.
Pronouncing the inside track, the Zcash Basis discussed the prevailing confrontation with ECC over the trademark’s long run. The basis famous that it returned to negotiations with ECC after failing to achieve an settlement in overdue August 2019, throughout the Zcash Group Discussion board.
ECC logged over 500 hours and spent $250,000 at the trademark
ECC defined that the trademark settlement is vital as it protects popularity and separates one product from any other. The company mentioned Zcash’s trademark protects the group from scams and brings criminal energy to Zcash’s blockchain governance.
In line with ECC, the donation allows them to remedy two elementary 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 usual criminal and trade frameworks.
Cointelegraph reported in October on a probably malicious counterfeit model of Zcash Basis’s local ZecWallet. The settlement via ECC and the Zcash Basis show their dedication to stop such circumstances.
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