#zcash
🛡 Zcash launches Ironwood update after Orchard pool vulnerability discovered
The Zcash blockchain officially activated the NU6.3 network update at block height 3,428,143, deploying a new secure pool called Ironwood.
📌 What happened and why does it matter?
➡️ Orchard vulnerability: In May, researcher Taylor Hornby discovered a flaw in the Orchard pool’s zero-knowledge scheme that theoretically allowed for the stealth creation of fake ZEC. Analysts found no evidence of the bug being exploited, but the community acted quickly — Orchard was patched in 5 days, and a new pool was created in 60.
➡️ Orchard restrictions: The old Orchard pool (which held ~88% of ZEC secured at its peak) is now only available for withdrawals. A “turnstile” has also been installed to limit withdrawals and audit the 21 million coin limit.
➡️ Ironwood Security: The new pool uses formal verification to mathematically confirm the absence of errors, and also implements ZIP 2005 (protection against potential risks of quantum computing).
📊 Statistics and market:
Over 40,200 $ZEC have already migrated to the new Ironwood pool, while about 3.6 million coins remain in Orchard.
The price of $ZEC reacts to events: after the disclosure of information about the bug, the token lost more than 50%, and on Tuesday it sank locally to $460, after which it recovered to $475.
Ironwood is the result of a large-scale cooperation of developers from ZODL, Shielded Labs, Zcash Foundation, Project Tachyon and Valar Group.
🛡 Zcash launches Ironwood update after Orchard pool vulnerability discovered
The Zcash blockchain officially activated the NU6.3 network update at block height 3,428,143, deploying a new secure pool called Ironwood.
📌 What happened and why does it matter?
➡️ Orchard vulnerability: In May, researcher Taylor Hornby discovered a flaw in the Orchard pool’s zero-knowledge scheme that theoretically allowed for the stealth creation of fake ZEC. Analysts found no evidence of the bug being exploited, but the community acted quickly — Orchard was patched in 5 days, and a new pool was created in 60.
➡️ Orchard restrictions: The old Orchard pool (which held ~88% of ZEC secured at its peak) is now only available for withdrawals. A “turnstile” has also been installed to limit withdrawals and audit the 21 million coin limit.
➡️ Ironwood Security: The new pool uses formal verification to mathematically confirm the absence of errors, and also implements ZIP 2005 (protection against potential risks of quantum computing).
📊 Statistics and market:
Over 40,200 $ZEC have already migrated to the new Ironwood pool, while about 3.6 million coins remain in Orchard.
The price of $ZEC reacts to events: after the disclosure of information about the bug, the token lost more than 50%, and on Tuesday it sank locally to $460, after which it recovered to $475.
Ironwood is the result of a large-scale cooperation of developers from ZODL, Shielded Labs, Zcash Foundation, Project Tachyon and Valar Group.