Zcash Ironwood Upgrade Locks $1.89 Billion in Orchard Pool
The Zcash network is set to activate its Ironwood upgrade on July 28th, marking a significant change in its infrastructure. The Orchard private pool will lock 3.76 million ZEC, representing 22% of the circulating supply, as part of the upgrade.
The activation will seal the Orchard pool to prevent internal transfers without affecting user balances. This change responds to a mathematical vulnerability detected in May by researcher Taylor Hornby, which could have allowed the generation of counterfeit coins.
To maintain compatibility with the system, node operators must install Zebra 6.0.0 prior to the activation milestone. Developer reports indicate that several exchanges may temporarily pause deposits and withdrawals while completing platform adjustments.