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

From Zerocash to the ETF

Every dated row the corpus holds, on one axis: exploit, governance, funding, leadership, protocol, market, regulatory, network and launch.

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-shareconfidence: medverified 2026-08-22cite - 8 sources
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
Claim

The governance strand runs one unbroken line: 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.

These strands are not separate stories. The money raised in 2015 becomes the Founders' Reward, becomes the dev-fund fight, becomes the walkout, while a soundness bug sits in one circuit and then in another and the promotion network runs at full volume across the same months. That is why all 124 rows share a single spine - and why the strand filter is here, because a pattern that does not survive being taken apart is not one.

confidence: highverified 2026-08-223 sources

C8
C8confidence: highverified 2026-08-22cite - 3 sources
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 8 leadership rows; the year numerals stay, so a strand's silent years remain visible.

2013
2014
2015
2016
2017
2017year onlyleadershipJosh Cincinnati becomes ZF Executive Director Josh Cincinnati becomes ZF's first Executive Director (served ~3 years).T2017-01-01
T2017-01-01confidence: medverified 2026-08-22cite - 1 source
claim
T2017-01-01
last verified
2026-08-22
confidence
med
  1. Zcash Community Forum — Josh Cincinnati leaving the Zcash Foundation (31 Jul 2020) Zcash Community Forum · 2020-07-31 · accessed 2026-08-22
2018
2019
2020
31 Jul 2020leadership / governanceJosh Cincinnati resigns as ZF Executive Director Josh Cincinnati resigns as ZF ED: mutual trust was irreparably lost with ECC leadership; he judged it unlikely that the ECC's top leadership would ever change.T2020-07-31
T2020-07-31confidence: highverified 2026-08-22cite - 1 source
claim
T2020-07-31
last verified
2026-08-22
confidence
high
  1. Zcash Community Forum — Josh Cincinnati leaving the Zcash Foundation (31 Jul 2020) Zcash Community Forum · 2020-07-31 · accessed 2026-08-22
2021
Early 2021month onlyleadershipJack Gavigan ("Dodger") becomes ZF Executive Director Jack Gavigan ("Dodger") becomes ZF Executive DirectorT2021-01-01
T2021-01-01confidence: highverified 2026-08-22cite - 1 source
claim
T2021-01-01
last verified
2026-08-22
confidence
high
  1. ZF — Bids Farewell to Jack Gavigan (2 Apr 2025) Zcash Foundation · 2025-04-02 · accessed 2026-08-22
2022
2023
18 Dec 2023leadershipZooko steps down as ECC CEO; Swihart succeeds him Zooko Wilcox steps down as ECC CEO after 8 years; Josh Swihart (previously SVP Growth) becomes CEO. Zooko remains a Bootstrap director. "Zcash took over not only my life but also my identity."T2023-12-18
T2023-12-18confidence: highverified 2026-08-22cite - 1 source
claim
T2023-12-18
last verified
2026-08-22
confidence
high
  1. The Block — Zooko steps down as ECC CEO (18 Dec 2023) The Block · 2023-12-18 · accessed 2026-08-22
2024
5 Jul 2024leadershipZooko departs as Bootstrap Executive Director and resigns from the Bootstrap board Zooko departs as Bootstrap Executive Director and resigns from the Bootstrap boardT2024-07-05
T2024-07-05confidence: highverified 2026-08-22cite - 1 source
claim
T2024-07-05
last verified
2026-08-22
confidence
high
  1. ECC — Zooko and a new focus (5 Jul 2024) Electric Coin Company · 2024-07-05 · accessed 2026-08-22
3 Oct 2024leadershipSean Bowe departs ECC to do independent Zcash research Sean Bowe departs ECC to do independent Zcash researchT2024-10-03
T2024-10-03confidence: highverified 2026-08-22cite - 1 source
claim
T2024-10-03
last verified
2026-08-22
confidence
high
  1. Zcash Community Forum — I'm departing ECC (Sean Bowe, 3 Oct 2024) Zcash Community Forum · 2024-10-03 · accessed 2026-08-22
2025
4 Mar 2025leadershipJack Gavigan steps down as ZF ED Jack Gavigan steps down as ZF ED after four years; Alex Bornstein interimT2025-03-04
T2025-03-04confidence: highverified 2026-08-22cite - 1 source
claim
T2025-03-04
last verified
2026-08-22
confidence
high
  1. ZF — Changing of the Guard (4 Mar 2025) Zcash Foundation · 2025-03-04 · accessed 2026-08-22
1 Nov 2025leadershipAlex Bornstein appointed permanent ZF Executive Director Alex Bornstein appointed permanent ZF Executive DirectorT2025-11-01
T2025-11-01confidence: highverified 2026-08-22cite - 1 source
claim
T2025-11-01
last verified
2026-08-22
confidence
high
  1. ZF — Board Appoints Alex Bornstein as ED (1 Nov 2025) Zcash Foundation · 2025-11-01 · accessed 2026-08-22
2026
The working
How the record is dated36 of 124 rows are coarser than a day

Every row prints the corpus's own rendering of its date, never a formatted sort key. The sort key exists to order the spine; a row the sources date only to a month says so beside the date instead of borrowing a day from it. A site whose argument is that a claim may not assert more than its evidence carries cannot open by asserting a day it does not have.

day
88 rows - no qualifier printed
month
15 rows - marked month only beside the date
year
6 rows - marked year only beside the date
range
15 rows - marked a span beside the date
How the strand filter counts29 of 124 rows carry a second strand

Each chip counts, and the filter matches, a row's PRIMARY strand only. 29 of the 124 rows carry a second strand as well - they print both, as launch / market - and no chip counts the second one. It bites hardest on the claim at the top of this page: the governance chip shows the 16 rows the corpus FILES under governance, and not these 4, which carry it second.

  • T2019-11-10 ZIP 1014 created establishing dev fund model - filed under funding
  • T2020-07-31 Josh Cincinnati resigns as ZF Executive Director - filed under leadership
  • T2025-02-19 ZIP 1016 and ZIP 271 create new funding models - filed under funding
  • T2026-03-09 ZODL raises $25M seed round - filed under funding

Two behaviours below that are deliberate. Year numerals are never hidden, so a strand's silent years stay visible - filtering to leadership and finding a year empty is information. And the chips are real links: the server sets the hidden rows from the category parameter, so a filtered view works with JavaScript switched off and can be copied out of the address bar.