The crypto world is no stranger to sudden rebrands, it’s a practice that has become commonplace. The latest firm to undertake a rebrand is the parent company of ZCash, legally known as the Zerocoin Electric Coin Company, LLC. For a long time, it has simply called itself the “ZCash Company”, and this name is fairly limiting. In a bid to distance itself from the ZCash project a little bit more, it has decided to rebrand itself as the Electric Coin Company – removing all references to ZCash.
A Distinct Difference Between Product and Company
There are no bad intentions behind the rebrand, it’s a simple exercise to allow the community of ZCash developers to get a little more credit for the hard work they do. ZCash isn’t the company, it’s the cryptocurrency – and this is the distinction that the Electric Coin Company is trying to make. The huge ZCash development community makes the cryptocurrency possible, and the Electric Coin Company doesn’t want to hog all the credit – kudos to you.
What will the Electric Coin Company Be Doing?
In short, everything it always has done. Whether it’s helping to drive adoption, creating user guides, engaging in community forums, building ZCash software or simply participating in cryptographic research, the Electric Coin Company is still the same 30 people doing the same jobs they were in December.
Don’t Confuse the ZCash Foundation
The ZCash foundation is not part of the Electric Coin Company, nor will it ever be. The ZCash Foundation is a separate non-profit entity that has its own board of directors and provides funding to projects looking to improve the ZCash network – similarly to the Ethereum Foundation. The ZCash Foundation is staying exactly the same during the rebranding and will remain true to its own core values and goals.
ZCash Still Profitable to Mine
If you love ZCash, you will be happy to know that it’s still incredibly profitable to mine the cryptocurrency. Using a single Zeon 180K ASIC mining rig will net you a cool $20.85 every day – presuming your power costs $0.13/KWh. Despite the FUD spread by firms like JPMorgan, crypto mining on the ZCash network is still one of the most profitable activities in the industry.
ShapeShift Joins the Rebranding Revolution
Almost at exactly the same time, ShapeShift has also announced that it too is undergoing a major rebrand. Under the new rebrand, ShapeShift will change its visual identity, along with launching a brand new platform designed with users in mind. It’s the first time a major exchange has decided to completely rebrand to pull itself out of a rut and shake off the effects of the crypto winter.
As the Zerocoin Electric Coin Company, LLC completes the last few exercises in the rebrand, nothing will change to the community. ZCash will remain ZCash and will function the entire time – it’s simply a name change. This could open the door to new projects coming from the team, as well as the prospect of cool new upgrades to the ZCash network in the future.