Down 11% in 1 Day, is Zcash Still a Buy?

Core Insights - Zcash (CRYPTO: ZEC) experienced an 11% decline in price over 24 hours due to the resignation of its core developer team amid a governance dispute, leading to uncertainty about its future [1] - Despite the turmoil, Zcash remains a viable investment option, although it may be prudent to wait for stabilization before making purchases [2] Developer Team Situation - The Electric Coin Company (ECC), which originally comprised Zcash's developers, has collectively decided to leave due to dissatisfaction with actions from individuals associated with Bootstrap, a nonprofit involved in Zcash's governance [4] - The exact nature of the dispute is not fully clear, but it appears to involve changes in employment terms for the developers [5] - The departing developers plan to establish a new business to continue their work, focusing on developing a new wallet for Zcash [5] Open Source Nature - Zcash is open source software, meaning that the departure of the core developer team does not equate to the end of the coin; the same team can continue their work under a new organization [6] - Other teams or individuals can still contribute to Zcash's codebase, ensuring ongoing development and feature enhancements [6] Privacy Features - Zcash continues to focus on its core functionality as a privacy coin, utilizing zk-SNARKs cryptographic proofs to allow users to validate transactions without revealing sensitive details [7] - The platform will maintain its ability to facilitate private transactions, distinguishing it from other cryptocurrencies like Bitcoin [7] Overall Outlook - The resignation of the developer team is concerning but does not signify the demise of Zcash; the project is expected to continue with new leadership and ongoing development efforts [8]