Zcash’s Ironwood network upgrade is a solution to the “infinity” bug discovered in May in Orchard, the privacy-focused blockchain’s main private transaction pool, and is scheduled to go live on July 28th.
Announced in June, Ironwood will close the current Orchard Pool, prevent new activity there, and install a new private pool. Funds leaving Orchard must pass an audit before entering Ironwood, which could provide evidence of whether counterfeit Zcash exists ($ZEC) token was generated through a bug in Orchard.
“Zcash’s Ironwood mainnet activation height has been set and tagged! All major organizations are working to activate NU6.3 at height 3428143, which is approximately July 28th at 8am ET,” Zcash core developer Sean Bowe said on Thursday.
sauce: Sean Bowe
Shielded Labs was considering delaying Zcash’s Ironwood upgrade, warning that there would not be enough time for ecosystem participants such as exchanges, mining pools, and wallets to prepare their systems for mainnet activation in late July. Bowe’s latest comments confirm that the upgrade will occur one week later than the original target date of July 21st.
Shielded Labs said in June that Ironwood could provide evidence as to whether the Orchard vulnerability was exploited.
“When a user moves funds from an existing Orchard pool to a new pool, a hypothetical counterfeiter faces a choice: attempt to move the counterfeit funds and risk exposure, or leave the funds behind and risk not being able to move them in the future.”
$ZEC After the Orchard bug was published on June 3, the price plummeted 50% from $602.68 to $299.25. $ZEC It has partially recovered in the following weeks and is trading at $492.61 at the time of writing.
Zcash crossed a major monetary milestone this week by winning more than 80% of its record $21 million. $ZEC Currently published. According to a post from ruZCASH on Monday, there are currently 16,806,723 people $ZEC Currently in supply.
