Zcash Sets July 28 Ironwood Upgrade to Strengthen Privacy Pool Security and Supply Transparency
Privacy coin Zcash faces systemic risks after an AI model identified a security vulnerability in its legacy Orchard privacy pool. In response, five Zcash development organizations jointly proposed a network upgrade called Ironwood. The plan would freeze the old pool through a one-way channel and establish a new one, addressing the vulnerability while ensuring the token supply remains verifiable and the system secure. The effort is intended to rebuild market confidence.
After the five development organizations reached a consensus and moved forward simultaneously with formal verification and audits, Zcash formally approved the activation of Ironwood on the evening of July 28. The upgrade had recently faced a possible delay because of insufficient infrastructure readiness, but the migration of the legacy Orchard privacy pool has now been confirmed to proceed on schedule. ZEC rallied 45% on the upgrade news, signaling strong market expectations for the security fix.
All Coverage
6 original reportsThe Backstory
The history behind this eventZcash Activates Ironwood Upgrade to Close Counterfeiting Flaw
Zcash, a cryptocurrency designed to shield transaction details, faced a crisis of confidence after researchers identified a vulnerability in its Orchard privacy pool that could have allowed unlimited counterfeit ZEC to be created without detection. The Ironwood upgrade, also known as NU6.3, was developed to restore trustless verification of the cryptocurrency’s supply while preserving privacy for shielded transactions.
Zcash activated Ironwood on July 28, sealing the Orchard pool, which held about $1.7 billion, and launching a new shielded pool backed by on-chain accounting checkpoints. Developers said formal verification covered 2,700 theorems and showed the new proof rules prevent undetectable counterfeiting. Most holders can move their funds through a one-click migration offered by compatible wallets.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.
If you search news on Google, you can set Mark Radar as a preferred source—our coverage will show up more often in your results. Set as preferred source on Google →