MetaMask Backs Zcash: $150K for Shielded ZEC Development

• The Zcash Foundation approved a proposal to create a browser-compatible library for web wallets and plugins.
• MetaMask matched $150,000 to support the development of a MetaMask Snap for Shielded ZEC integration.

The Zcash Foundation has announced on the Zcash Community Forum that the Zcash Grants 4 Committee approved a key proposal targeted at expanding the Zcash ecosystem at its most recent meeting.

This extension will be accomplished by creating and providing a browser-compatible library with essential primitives for online wallets and browser plugins.

Whoo-hoo! Zcash coming to MetaMask thanks to MetaMask and the Zcash Community Grants Committee!https://t.co/jg5zARnGMW pic.twitter.com/6CqvEvqYb3

— zooko ⓩ (@zooko) August 6, 2024

MetaMask’s $150K Boost for Zcash Privacy Push 

This breakthrough is a significant step forward for Zcash since it emphasizes continued efforts to improve ZEC functionality and accessibility, particularly in the world of online applications.

MetaMask, a popular Ethereum-based wallet, has shown its support for Zcash by matching a $150,000 gift. This financial assistance is primarily intended to help with the development of a MetaMask Snap that will enable Shielded ZEC.

Shielded ZEC’s incorporation into MetaMask marks a significant milestone for the privacy-focused cryptocurrency, as it will allow users to execute transactions with increased privacy features directly through their MetaMask wallets.

The popularity of ZEC, Zcash’s native token, on the market reflects the excitement these developments have generated. The token’s spectacular price increase serves as evidence of investors and Zcash supporters enthusiasm.

ZEC recently rated among the top five gainers of the day, having increased by 12.50% over the last 24 hours to $41.32. This rising surge is part of a bigger bullish trend, with ZEC up more than 28% in the past week.

Furthermore, it is worth mentioning that this strong market performance follows on the heels of other notable milestones within the Zcash ecosystem. CNF previously reported another significant milestone for Zcash, with Grayscale proposing a new ETF centered on privacy and cybersecurity.

This ETF is designed to track companies involved in data security and new technologies like blockchain. Notably, the ETF intends to direct 10% of its investments to the Grayscale Zcash Trust, bolstering Zcash’s position as a privacy-focused cryptocurrency.

On the other hand, according to our prior report, Electric Coin Co., the major developer behind Zcash, said that Zooko Wilcox, who has been CEO for the past eight years, stepped down at the end of last year.

Wilcox, on the other hand, continues to play an important role within the corporation by remaining a director on the Bootstrap board, ensuring that his skills and vision continue to drive Zcash’s future.