Three Considerations Prior to the Ycash Launch

Before you decide to mine or buy Ycash, some considerations

Ycash Foundation
Jul 19 · 2 min read
The Space Shuttle Atlantis in 2008. Copyright NASA Johnson. Use licensed under CC BY-NC 2.0.

At the time of this writing, the Ycash/Zcash chain fork is less than 100 blocks away. Since the fork has not yet occurred, no one in the world has mined or bought a single YEC. Before you do so, please consider the following:

Consideration 1: The Ycash Foundation is committed to mining on commodity hardware in general, not to mining on a particular class of commodity hardware.

As stated in the initial Ycash announcement on April 11, 2019, “To be clear, our commitment is to commodity hardware in general, not to a specific type of commodity hardware, like GPUs.”

If you choose to mine Ycash with a GPU, you do so fully aware that CPU-targeted Proof of Work algorithms like RandomX are being considered for future use by Ycash. With that said, the Ycash Foundation is unlikely to move to a CPU-targeted algorithm unless it believes that there are a sufficient number of Ycash users that would likely participate in CPU mining.

Consideration 2: The Ycash Foundation does not plan to eliminate transparent addresses absent a technological breakthrough on counterfeit protection.

We mention this because it has become near gospel in parts of the Zcash community that transparent addresses should be deprecated at some point in the future. The Ycash Foundation currently disagrees.

We believe that the current turnstile protection is best characterized as a defense against inflation, not a defense against counterfeiting.

We believe that transparent addresses are a legitimate way to safely store large amounts of YEC, and that widespread adoption of fully shielded transactions can be achieved without deprecating transparent addresses.

Consideration 3: The Ycash Foundation does not have the resources to provide direct 1-on-1 customer support to users.

We consider the YEC donated by miners to the Ycash Development Fund to be a precious resource. We think that the best use of that precious resource is to focus primarily on developing Ycash and promoting its use. While education is a important part of promotion, we will not have the resources to provide 1-on-1 customer support to users. We will work hard to foster a community of users that help each other (as has already been the case leading up to launch), but individuals who choose to mine or buy YEC should not expect or feel entitled to 1-on-1 customer support directly from the Ycash Foundation.

For more information about Ycash, visit the Ycash Foundation’s website.

Ycash Foundation

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Nonprofit dedicated to developing and promoting Ycash

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