A recent experiment has shown that a tangle of quantized vortices in superfluid $^4$He decayed even at mK temperatures where the normal fluid was negligible and no mutual friction worked. Motivated by this experiment, this work studies numerically the dynamics of the vortex tangle without the mutual friction, thus showing that a self-similar cascade process, whereby large vortex loops break up to smaller ones, proceeds in the vortex tangle and is closely related with its free decay. This cascade process which may be covered with the mutual friction at higher temperatures is just the one at zero temperature Feynman proposed long ago. The full Biot-Savart calculation is made for dilute vortices, while the localized induction approximation is used for a dense tangle. The former finds the elementary scenario: the reconnection of the vortices excites vortex waves along them and makes them kinked, which could be suppressed if the mutual friction worked. The kinked parts reconnect with the vortex they belong to, dividing into small loops. The latter simulation under the localized induction approximation shows that such cascade process actually proceeds self-similarly in a dense tangle and continues to make small vortices. Considering that the vortices of the interatomic size no longer keep the picture of vortex, the cascade process leads to the decay of the vortex line density. The presence of the cascade process is supported also by investigating the classification of the reconnection type and the size distribution of vortices. The decay of the vortex line density is consistent with the solution of the Vinen's equation which was originally derived on the basis of the idea of homogeneous turbulence with the cascade process. The obtained result is compared with the recent Vinen's theory.