Zcash developers finalized the Ironwood upgrade plan, targeting late July activation after remediation of a critical Orchard shielded pool flaw. Ironwood adds a new shielded pool, flags legacy Orchard circuits, permits migration change notes and redirects future transactions away from the old pool.
Developers agree on Orchard pool changes and turnstile mechanism to secure ZEC's circulating supply.
$500 no longer looks far-fetched for ZEC as Spot demand returns and retail traders vote for a rally.
Zcash developers have approved a set of consensus rule changes for the upcoming Ironwood upgrade, which is targeted for activation in late July.
The Zcash (ZEC) price came under intense selling pressure after the Orchard vulnerability sparked concerns over the network's integrity, wiping out nearly 60% of its value. However, panic selling quickly gave way to aggressive buying, pushing the privacy-focused cryptocurrency back into a bullish recovery phase.
Zcash has completed a two-phase emergency network upgrade to fix a critical vulnerability in its Orchard shielded pool — a flaw that sat undetected for four years, could theoretically have allowed unlimited undetectable counterfeit ZEC creation, and triggered a 50% price collapse before the network's swift response began restoring confidence and driving a recovery in ZEC's price. Related Reading: Analyst Charts Ethereum Long-Term Roadmap To $16,000 – There's No Need To Panic Josh Swihart, CEO of Electric Coin Company — the primary developer of Zcash — posted on X on June 7 confirming the fix was complete and the network secure, as ZEC began its recovery from the lows reached after the vulnerability's disclosure.
Zcash price has recovered roughly 50% from last week's lows after a proposal for a new network upgrade sought to address concerns raised by a recently disclosed vulnerability that could have allowed the creation of counterfeit tokens.
Zcash rebounds rapidly after protocol risks eased, though participation and flow data show limited confirmation of strength.
Zcash wants to restore trust with Ironwood, a new shielded pool designed to fix the gray area left by the Orchard flaw. In an already nervous crypto market, the issue goes beyond a simple technical bug.
David Schwartz reassured Zcash holders that passive coins should remain safe if the Orchard vulnerability was never exploited. The flaw affected the Halo 2-based Orchard shielded pool from May 2022 until the NU6.2 hard fork on June 2.
Zcash surged over 80% after developers patched an Orchard bug and proposed Ironwood to restore supply verification. Zcash rebounds 80% as developers propose Ironwood upgrade after Orchard bug.
Zcash pared steep losses after the privacy coin's backers introduced an upgrade aimed at restoring faith in the digital asset's supply.