Zooko Wilcox is stepping down as CEO of Electric Coin Company, the entity behind the development of Zcash. 

Former senior vice president of growth Josh Swihart will succeed Wilcox, the company announced Monday. 

Electric Coin Co. was founded in 2015 with Wilcox at the helm to foster the development of Zcash, which debuted in 2016. Zcash is a privacy-focused crypto that uses opt-in shielded addresses and zk-SNARKs to hide users’ financial information. On Bitcoin, by contrast, transactions are all publicly recorded on the blockchain. 

At launch, Zcash emerged as one of a number of major privacy cryptos, trading well over $1,000 shortly after its release. Zcash (ZEC) was worth around…

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