02 RECORD — 2013 to 2026 - one spine - filter by strand

From Zerocash to the ETF

Launch, funding, governance, leadership, exploits, upgrades, market and the promotion network on one axis. The governance strand alone runs Founders' Reward to ZIP 1014 to ZIP 1015 to ZIP 1016 to the January 2026 walkout to a VC-funded lab whose engineers accounted for roughly 82 per cent of merged protocol and wallet repository changes in Ironwood. Dates are printed as the record states them: a row the sources date only to a month says so rather than borrowing a day from its sort key.

shielded share of supply — 2018 to 2026

Shielded share of ZEC supply, 2018 to 2026
Shielded share of ZEC supply, by reading date
DateShare of supplySource note
Aug 20183.6 per centKappos et al.'s own measurement, in the paper that also found 0.3 per cent of transactions fully private
Aug 20217.4 per centZECStats' five-years-ago baseline
Early 20248 per cent-
Aug 20249 per centForbes gives it as about 9 per cent, 1.48M of 16.3M ZEC
Start of 202511 per cent-
Oct 202518 per cent-
Nov 202523 per cent-
May 202630 per centthe peak, about 5M ZEC, and the only time the shielded share has reached 30 per cent
2026-08-22 (block 3,456,227)26 to 26.8 per centCipherScan at block 3,456,227 gives 26.0 percent shielded; ZECStats reads 26.8 percent. Cite the range, roughly 26 to 27 percent. Coin Metrics adds that the growth was driven primarily by shielding and deshielding activity, and that fully shielded transfers remain a small share.

Nine and a half years after mainnet, the shielded share peaked at 30 per cent and fell back. The final reading is a band because its two sources disagree: CipherScan reads 26 per cent and ZECStats 26.8 per cent on the same day. The decline from the May 2026 peak spans the Orchard disclosure and the forced Ironwood migration; the corpus flags the fall and declines to attribute a cause, and so does this chart.

shielded-sharecite
claim
shielded-share
last verified
2026-08-22
confidence
med
  1. Kappos, Yousaf, Maller, Meiklejohn — An Empirical Analysis of Anonymity in Zcash, USENIX Security 2018 USENIX · accessed 2026-08-22
  2. ZEC Stats (zecstats.com) ZEC Stats · accessed 2026-08-22
  3. crypto.news — Why 30% of Zcash supply is in the shielded pool (29 May 2026) crypto.news · 2026-05-29 · accessed 2026-08-22
  4. Forbes — How Satoshi Collaborator Zooko Wilcox Aims to Revive His Zombie Blockchain (8 Aug 2024) Forbes · 2025-03-12 · accessed 2026-08-22
  5. Coin Metrics, State of the Network #338 Coin Metrics · 2025-11-08 · accessed 2026-08-22
  6. CipherScan — Ironwood migration tracker CipherScan · 2026-08-22 · accessed 2026-08-22
  7. CoinGecko — Zcash CoinGecko · accessed 2026-08-22
  8. Coinglass ZEC derivatives coinglass.com · accessed 2026-08-22
C8
C8cite
claim
C8
last verified
2026-08-22
confidence
high
  1. The Block — Zcash developers quit, form new company (7 Jan 2026) The Block · 2026-01-07 · accessed 2026-08-22
  2. CoinDesk — ZODL raises $25M (9 Mar 2026) CoinDesk · 2026-03-09 · accessed 2026-08-22
  3. Draft ecc-zbloc (Obsolete) Zcash Improvement Proposals · accessed 2026-08-22
the 82 per cent figure, its scope and its confidence

124 dated entries, 9 strands. Showing the 16 governance rows; the year numerals stay, so a strand's silent years remain visible.

all124exploit24governance16funding9leadership8protocol22market12regulatory8network20launch5
2013
2014
2015
2016
14 Nov 2016governanceCoinDesk publishes critique of Zcash security theater CoinDesk publishes Zcash and the Art of Security Theater — Greg Slepak's critique; Peter Todd's you're trusting me and five other participants not to collude.T2016-11-14
T2016-11-14cite
claim
T2016-11-14
last verified
2026-08-22
confidence
high
  1. CoinDesk — Zcash and the Art of Security Theater (14 Nov 2016) CoinDesk · 2016-11-14 · accessed 2026-08-22
2017
14 Feb 2017governanceZcash Foundation incorporated in Delaware Zcash Foundation incorporated in Delaware (announced 7 Mar 2017). Bootstrap board: Andrew Miller (chair/treasurer), Peter Van Valkenburgh (secretary), Matthew Green, Naval Ravikant.T2017-02-14
T2017-02-14cite
claim
T2017-02-14
last verified
2026-08-22
confidence
high
  1. ZF — First Announcement from the Zcash Foundation (7 Mar 2017) Zcash Foundation · 2017-03-07 · accessed 2026-08-22
2018
27 Mar 2018governanceECC announces 2018 audit programme ECC announces the 2018 audit programme (NCC Group, Coinspect, Least Authority, Kudelski, Mary Maller) — 26 days after the counterfeiting bug was found and withheld.T2018-03-27
T2018-03-27cite
claim
T2018-03-27
last verified
2026-08-22
confidence
high
  1. ECC — 2018 Zcash Security Audit Details (27 Mar 2018) Electric Coin Company · 2018-03-27 · accessed 2026-08-22
2019
4 Feb 2019governanceZcash Foundation informed of CVE-2019-7167 Zcash Foundation informed of CVE-2019-7167 — one day before the public.T2019-02-04
T2019-02-04cite
claim
T2019-02-04
last verified
2026-08-22
confidence
high
  1. ZF — Concerning the Sprout Vulnerability CVE-2019-7167 Zcash Foundation · accessed 2026-08-22
21 Feb 2019governanceZcash Company rebrands to Electric Coin Company Zcash Company rebrands to Electric Coin Company.T2019-02-21
T2019-02-21cite
claim
T2019-02-21
last verified
2026-08-22
confidence
med
  1. Wikipedia — Zcash Wikipedia · accessed 2026-08-22
6-7 Nov 2019a spangovernanceECC donates Zcash trademark to Zcash Foundation ECC donates the Zcash trademark to the Zcash Foundation — creating a two-party veto: neither org alone can declare a chain Zcash; both must consent to consensus-changing upgrades or the chain splits and neither side may use the name.T2019-11-06
T2019-11-06cite
claim
T2019-11-06
last verified
2026-08-22
confidence
high
  1. ECC — Electric Coin Co. donates Zcash trademark to ZF Electric Coin Company · accessed 2026-08-22
  2. CoinDesk — Zcash Trademark Talks Were About More Than a Logo (7 Nov 2019) CoinDesk · 2019-11-07 · accessed 2026-08-22
2020
2020year onlygovernanceECC becomes wholly owned subsidiary of Bootstrap ECC becomes a wholly owned subsidiary of the Bootstrap Project, a 501(c)(3).T2020-01-01
T2020-01-01cite
claim
T2020-01-01
last verified
2026-08-22
confidence
high
  1. Wikipedia — Zcash Wikipedia · accessed 2026-08-22
2021
2022
Apr 2022month onlygovernanceEdward Snowden revealed as "John Dobbertin", the sixth Ceremony participant (Zcash Media) Edward Snowden revealed as "John Dobbertin", the sixth Ceremony participant (Zcash Media)T2022-04-01
T2022-04-01cite
claim
T2022-04-01
last verified
2026-08-22
confidence
high
  1. Wikipedia — Zcash Wikipedia · accessed 2026-08-22
Dec 2022month onlygovernanceShielded Labs founded by Jason McGee Shielded Labs founded by Jason McGee ("aquietinvestor") as a non-profit Swiss Association — explicitly to "decentralize development away from US-based organizations"T2022-12-01
T2022-12-01cite
claim
T2022-12-01
last verified
2026-08-22
confidence
high
  1. Shielded Labs founding thread Zcash Community Forum · accessed 2026-08-22
2023
2024
2025
28 Jan 2025governanceDraft `ecc-zbloc` "Zcash Governance Bloc" — Josh Swihart, Daira-Emma Hopwood. Status: Obsolete Draft `ecc-zbloc` "Zcash Governance Bloc" — Josh Swihart, Daira-Emma Hopwood. Status: ObsoleteT2025-01-28
T2025-01-28cite
claim
T2025-01-28
last verified
2026-08-22
confidence
high
  1. Draft ecc-zbloc (Obsolete) Zcash Improvement Proposals · accessed 2026-08-22
1 Dec 2025governanceBootstrap announces organisational restructuring — the proximate trigger of the ECC rupture Bootstrap announces organisational restructuring — the proximate trigger of the ECC ruptureT2025-12-01
T2025-12-01cite
claim
T2025-12-01
last verified
2026-08-22
confidence
med
  1. CCN — Zcash dev drama explained / cashZ pivot CCN · accessed 2026-08-22
2026
7-8 Jan 2026a spangovernance / leadershipEntire ECC engineering team resigns in "the rupture" THE RUPTURE. The entire ECC engineering and product team resigns. Swihart: "the entire ECC team left after being constructively discharged"; names the Bootstrap board majority — Zaki Manian, Christina Garman, Alan Fairless, Michelle Lai — and calls it "malicious governance." Bootstrap replies that the dispute is about "compliance and fiduciary duty, not Zcash's mission" and protecting "mission-owned assets from private capture." ZEC −14% to −20%T2026-01-07
T2026-01-07cite
claim
T2026-01-07
last verified
2026-08-22
confidence
high
  1. The Block — Zcash developers quit, form new company (7 Jan 2026) The Block · 2026-01-07 · accessed 2026-08-22
  2. CoinDesk — Zcash developer team quits after governance clash (8 Jan 2026) CoinDesk · 2026-01-08 · accessed 2026-08-22
  3. crypto.news — ECC team quits in Bootstrap governance rift crypto.news · accessed 2026-08-22
8 Jan 2026governanceDeparted ECC team regroups as cashZ Team regroups as cashZ (cashz.org), a for-profit startup. Swihart: "We need to scale Zcash to billions of users. Startups can scale, but nonprofits can't."T2026-01-08
T2026-01-08cite
claim
T2026-01-08
last verified
2026-08-22
confidence
med
  1. CCN — Zcash dev drama explained / cashZ pivot CCN · accessed 2026-08-22
16-17 Feb 2026a spangovernanceZashi wallet rebrands to Zodl Zashi wallet rebrands to ZodlT2026-02-16
T2026-02-16cite
claim
T2026-02-16
last verified
2026-08-22
confidence
high
  1. crypto.news — Zashi rebrands to Zodl crypto.news · accessed 2026-08-22
Apr 2026month onlygovernanceTaylor Hornby hired to review the protocol (contracted via Shielded Labs) Taylor Hornby hired to review the protocol (contracted via Shielded Labs)T2026-04-01
T2026-04-01cite
claim
T2026-04-01
last verified
2026-08-22
confidence
high
  1. The Block — Zcash vulnerability, ZEC drops 31% (4 Jun 2026) The Block · 2026-06-04 · accessed 2026-08-22
14 Aug 2026governanceMcGee proposes doubling Hornby's bug bounty to $1.5M Jason McGee (Shielded Labs founder) proposes doubling Taylor Hornby's requested $750k bonus grant to $1.5M for the Orchard counterfeiting disclosure, arguing the original was 0.033% of ~$2.3B at risk versus an industry norm of 0.24%+; the bug bounty programme had closed days before Hornby's find, forcing the retroactive-grant route. Status: "Ready For Vote."T2026-08-14
T2026-08-14cite
claim
T2026-08-14
last verified
2026-08-22
confidence
med
  1. Taylor Hornby bonus grant Zcash Community Forum · 2026-08-14 · accessed 2026-08-22
Timeline - ZCashReveal