Coinholder Voting
A process in which ZEC holders vote, weighted by the ZEC they hold, on whether completed ecosystem work is paid from the Coinholder-Controlled Fund. It directs a funding program; it does not change Zcash's consensus rules.
Coinholder voting is the decision step of the Coinholder-Directed Retroactive Grants Program, the funding model described by ZIP 1016. ZEC holders vote on individual grant proposals for work that has already been completed; a proposal needs a minimum amount of ZEC participating in its vote plus a majority in favor, and designated Key-Holder Organizations then sign the payments.
It is not general-purpose on-chain governance. The votes decide how a specific fund is used. They do not change consensus rules, activate network upgrades, or oblige anyone to publish or run particular software.
Explained in context: Zcash Coinholder Voting Explained →
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