The Winklevoss twins donated $1.16 million to Zcash developers.
The Zcash support organization – Shielded Labs – received 3221 ZEC (approximately $1.16 million) from Tyler and Cameron Winklevoss. The funds will be used to finance work on the core protocol of the privacy coin.
Shielded Labs operates independently from the main Zcash development company and does not claim rewards for mining blocks. The structure exists through donations and focuses on research and engineering rather than creating commercial products. Among its participants is Zcash founder Zooko Wilcox.
The received capital will be directed towards long-term initiatives: Network Sustainability Mechanism, Crosslink, and Dynamic Fees. These solutions aim to improve the security, scalability, and economic sustainability of the network.
In a statement, Tyler Winklevoss noted that a healthy ecosystem requires the involvement of several independent teams at the protocol level. Cameron Winklevoss added that the twins have supported the project for years, as they believe privacy is a key feature of "hard money."