The Zcash company, which is in charge of all Zcash (ZEC) blockchain developments, has announced that it will be changing its name to “Electric Coin Company”.
The reason for rebranding from “Zcash company” to “Electric Coin Company” is to offer more clarity, according to a post made by the company in its blog. They state that the firm’s “legal name” was always “the Zerocoin Electric Coin Company, LLC”, but the members of the organization referred to it as “the Zcash company.”.
“Only the name has changed. We are the same team, with the same mission: to empower everyone with economic freedom and opportunity. We developed and help steward Zcash,” stated the developers.
The development team stated that the name change will be made in order to avoid association with the ZCash Foundation:
“We aren’t the Zcash Foundation. The foundation is a separate 501(3)c, managed independently. It has its own mission, team, and board of directors.”
The newly-established Electric Coin Company team, which is formed out of 30 members from all around the world, confirmed that they will keep on providing development and support for ZCash as before.
“It’ll take us a little while to get the new branding right, launch a new domain and change out the sign at the office, but the name change is public, so we wanted to make sure we were on record confirming it.”- the team said regarding its decision.
Zcash, the cryptocurrency, will not have its name changed and keep its ticker symbol ZEC. All trading operations with the coin will remain unchanged. Also, the company will keep its legal name of the Zerocoin Electric Coin Company, LLC. The only thing different will be that the so-called Zcash Company will start calling itself the Electric Coin Company from now on.
No other aspect of Zcash will undergo any changes. At press time, ZCash has the 20th rank according to cryptocurrency market capitalization.
Featured image: Ethereum World News