Electrical Coin Firm (ECC), the agency behind privacy-centric cryptocurrency Zcash (ZEC), reported monetary losses in Q1 2019.
Based on the Q3 2019 report published on Aug. 29, the agency operated at a mean month-to-month deficit of $186,000 through the first quarter of the 12 months.
Working at a loss
The corporate reportedly was receiving 6,157 ZEC per 30 days and a couple of,000 ZEC for worker compensation. Contemplating the common coin value throughout that time-frame, it's equal to about $449,000. The agency’s month-to-month bills, then again, have been “roughly $635,000 together with worker compensation paid in ZEC on the Q1 […] value of roughly $55.” Nonetheless, ECC’s total holdings ended up rising:
“The corporate’s first quarter ending quantity of USD and Zcash was roughly $5.2M. The corporate at present holds roughly $6.4M price of USD and Zcash.”
The ECC is searching for funds
Electrical Coin Firm CEO and Zcash co-founder Zooko Wilcox mentioned the opportunity of the ZEC improvement fund renewal in a letter published in July.
As Cointelegraph reported, United Kingdom-based prospects of Coinbase are being knowledgeable that the trade might be dropping help for the privacy-focused Zcash.