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Sovright launches Argos tool to help early Zcash users recover lost wallet assets.
BlockBeats News, June 30, Sovright, a non-profit organization formed by former members of the governance team of the original Zcash research and development institution Electric Coin Company (ECC), has launched a wallet recovery tool called Argos to help early Zcash users recover assets in shielded addresses that became inaccessible after ZEC Wallet Lite ceased maintenance in 2022.
Sovright Executive Chair Michelle Lai stated that users holding the original wallet recovery phrase can recover their funds through Argos. While the exact number of affected addresses cannot be accurately counted, the scale of funds involved is expected to be significant, primarily impacting early and long-term users of Zcash.
In addition to Argos, Sovright recently launched a testnet version of Sovright Mining Pool, aimed at helping individual miners participate in mining and addressing the issue of overly concentrated Zcash hashing power.
Sovright was established after a governance disagreement between ECC and the governance body Bootstrap. All former ECC employees have left to form the for-profit institution Zcash Open Development Lab (ZODL), while three former Bootstrap board members established Sovright to continue advancing the development of the Zcash ecosystem as a non-profit.