ZEC Price Now: Zcash Bounces About 45% as Developers Propose Ironwood Upgrade
The upgrade would add formal verification and audits after auditors said the Orchard bug could have enabled counterfeit ZEC.
- On June 6, developers from Shielded Labs, The Zcash Foundation, and The Zcash Open Development Lab proposed Ironwood, a new privacy pool designed to address a vulnerability discovered in the Orchard protocol.
- The vulnerability, undetected since 2022, could have allowed attackers to create unlimited counterfeit ZEC within the Orchard protocol, causing Zcash prices to plunge as low as $303 from above $600 following Friday's disclosure.
- Ironwood would close the Orchard pool to new deposits, requiring funds to pass through a 'turnstile' accounting checkpoint that would reject excess coins and prevent counterfeit ZEC from entering circulation.
- Once active, anyone running Zcash software can add up balances across pools to confirm the supply is clean; investor Chamath Palihapitiya noted this gives node operators verification without relying on developers' word.
- Developers plan to activate Ironwood by late July 2026 pending testing and ecosystem coordination, as ZEC traded around $437 on Monday despite remaining down roughly 22% over the week.
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Zcash, XRP Both Dumped Last Week, But Only One Is Up 45% From The Lows
Zcash (CRYPTO: ZEC) has bounced 45% from last week’s $300 low to $437 after developers proposed an upgrade to fix the counterfeiting bug, while XRP (CRYPTO: XRP) attempts a fragile recovery after falling nearly 19% last week. Ironwood Proposal Would Let Anyone Verify Zcash Supply Is Clean Developers from Shielded Labs, the Zcash Foundation, and the Zcash Open Development Lab proposed creating a new privacy pool using repaired code. Once active, …
CoinStats - Zcash Rebounds 45% as Ironwood Upgrade Target...
What to Know Developers proposed Ironwood upgrade to address Zcash’s critical supply vulnerability. Migration framework could expose counterfeit coins and restore trust confidence. Record shielded supply highlighted strong network activity before disclosure emerged. A vulnerability discovered inside Zcash’s Orchard shielded pool has led developers to propose the Ironwood upgrade, a plan aimed at restoring confidence in the network’s circulating…
Zcash Bounces 45% as Developers Reveal Ironwood Privacy Pool Plan
Zcash dropped as much as 40% when developers revealed a flaw in its Orchard shielded pool. The Ironwood proposal would build a fresh privacy pool with repaired code. Also, Ironwood would reveal or trap counterfeit coins, effectively wiping them out. Zcash is bouncing back strongly after one of the worst security scares in its history. ZEC had rallied about 45% from last week’s lows, following a proposed upgrade called ‘Ironwood’ aimed at rebuild…
Zcash rebounds 80% as developers propose Ironwood upgrade after Orchard bug
Zcash surged over 80% after developers patched an Orchard bug and proposed Ironwood to restore supply verification. The post Zcash rebounds 80% as developers propose Ironwood upgrade after Orchard bug appeared first on Crypto Briefing.
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