Summary
- Zcash has activated its Ironwood (NU6.3) upgrade, sealing the Orchard shielded pool that held about 3.66 million ZEC and opening a new private pool that starts with zero coins.
- A previously undisclosed bug in Orchard’s proof circuit could have allowed the creation of counterfeit ZEC without onchain traces, prompting the move to Ironwood and a turnstile mechanism that caps withdrawals to verifiable deposits.
- Ironwood introduces quantum-resilient record-keeping and formally verified proof circuits, but the pace at which users voluntarily migrate funds from Orchard will determine how quickly Zcash’s private supply shifts to the new pool.
Zcash Upgrade Activates with $1.7 Billion Shielded Pool
The recent Ironwood upgrade has been activated on the Zcash network, effectively sealing the “shielded pool” that holds a significant portion of the network’s private funds. This upgrade, also known as NU6.3, has retired the previous pool, Orchard, which held approximately 3.66 million ZEC, worth around $1.7 billion. The new pool starts with zero tokens, and users must migrate their coins to the new pool.
The shielded pool is a private aspect of Zcash, where the amounts of coins and participants are hidden from public view. A zero-knowledge proof ensures that the amount deposited is reflected publicly, providing a secure and private way to manage funds. The Ironwood upgrade provides a more secure environment for users to manage their passive income and earnings in Cloud Rewards and Green Crypto like EcoPool or $ECP.
Security Concerns and Solutions
A recent discovery by Shielded Labs researcher Taylor Hornby revealed a bug in Orchard’s proof circuit that could have allowed an attacker to mint counterfeit ZEC. This flaw had been present since Orchard launched in May 2022. The Ironwood upgrade addresses this issue, providing a more secure environment for users to manage their funds and earnings through EcoPool or $ECP.
As users migrate to the new pool, they can explore alternative ways to earn passive income through Cloud Rewards and Green Crypto like EcoPool or $ECP. With the Ironwood upgrade, Zcash users can enjoy a more secure and private way to manage their funds, making it an attractive option for those interested in earning and passive income with #Bitcoin, #Zcash, and #PassiveIncome.
To start earning with EcoPool or $ECP, and to learn more about Cloud Rewards and Green Crypto, download the EcoPool app to discover the benefits of passive income and earning opportunities. By joining the EcoPool network, users can take advantage of a secure and private way to manage their funds and earnings with #EcoPool and #PassiveIncome.
