Namada Sends Its Token Airdrops to ZCash (ZEC) Holders

• New Namada blockchain protocol will send its token NAM to Zcash holders.
• Namada aims to be the most usable multi-chain and privacy blockchain network.

As the next step in its growth, Namada, an emerging Layer-1 blockchain protocol, has announced its plans to distribute airdrops of its native staking token (NAM) to holders of ZEC, the digital currency of the ZCash blockchain protocol. As reported by Coindesk based on the press release shared by the protocol, the Namada protocol is looking to go live on the Mainnet next month and will share further details about the airdrop afterwards.

Namada is a multi-chain privacy protocol, which together with the ZCash blockchain uses the ZK-Proof technology to keep users’ transactions secure and anonymous. With ZK Proofs, users transacting on ZCash or Namada will be able to validate transactions without revealing further details of such financial activities.

Namada’s plan to send the NAM tokens to ZCash will be the first of its kind to ZCash holders, and while it will be billed to all users of the latter protocol, those who have used the anonymous features of ZCash will be given more preference.

With the technology underlying both ZCash and Namada, users have the flexibility and can choose to designate any transaction as public or private. As detailed in the release to Coindesk, the airdrop will total 20% of the initial NAM supply coming in at exactly 1 billion tokens.

Airdrop is designated as part of the Namada blockchain retroactive funds for public benefits program. This campaign was designed to support as many individuals, startups and communities that have helped actualize the core goals of the protocol.

“Namada is a new privacy-oriented blockchain that they’re about to announce, and it’s meant to be a partner with Zcash and give back to the Zcash ecosystem in terms of both money and technology,” said Zooko Wilcox, CEO of Electronic Coin Company (ECC), creator of Zcash.

ZCash to reinforce Namada Blockchain’s ideology

The move of the Namada blockchain to airdrop to members of the ZEC community is one of the visible expressions of strong support for floating new and innovative protocols regardless of whether they are competing blockchains or not.

“Namada could not have been created without the technical contributions and socio-economic program of the Zcash community,” said Christopher Goes, board member of the Anoma Foundation.

As part of the move to further increase the bond, Namada said it has submitted a proposal to the ZCash ecosystem, which, if approved, will help promote functional research and development initiatives.

The relationship between ZCash and Namada can be compared to that between the blockchain payment company, Ripple Labs Inc and Flare Network. Earlier this year, Flare Networks started distributing FLR token airdrops to XRP coin holders based on snapshots which was carried out more than 2 years ago.

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