Zcash Open Development Lab (ZODL) has raised a $25 million seed round from major cryptocurrency investors including Paradigm, a16z Crypto, Winklevoss Capital and Coinbase Ventures, The Block reported on March 9.
ZODL will use the funds to accelerate development of Zcash privacy technology.
The round also included Maelstrom, run by Arthur Hayes, Balaji Srinivasan (발라지 스리니바산), David Friedberg (데이비드 프리드버그) and Hasib Qureshi (하십 쿠레시), among other industry figures. ZODL manages an open-source Zodl Zcash wallet based on the Zashi wallet developed by Electric Coin Company (ECC).
ZODL was formed after ECC developers left in large numbers amid a conflict with a nonprofit board. The dispute at the time was over a plan to monetize part of the Zcash protocol.
Chi-gyu Hwang
delight@d-today.co.kr