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txd102023
txd102023
Zcash (ZEC) is preparing the Ironwood upgrade, a major network change designed to restore confidence in ZEC's supply integrity while preserving transaction privacy. The upgrade introduces a new shielded pool and a "turnstile" mechanism that allows anyone running a node to independently verify that the total ZEC supply is correct. This addresses concerns raised by a recently patched vulnerability in the Orchard pool that could theoretically have allowed counterfeit ZEC to be created undetected. Under Ironwood, funds will migrate from the existing Orchard pool into the new shielded pool through an on-chain accounting process. This system ensures that no more ZEC can be withdrawn than was legitimately deposited, enabling transparent supply verification without sacrificing privacy. The proposal comes after developers fixed a critical Orchard bug that created uncertainty about whether the circulating supply could have been compromised. While the vulnerability has already been patched, Ironwood aims to eliminate lingering doubts by making supply verification possible for all network participants. Mainnet activation is currently targeted for late July 2026. The most important period will be the migration phase, when users, wallets, exchanges, and infrastructure providers move funds into Ironwood. Any discrepancies discovered during this process could impact confidence in the network. Overall, Ironwood represents an effort to combine Zcash's privacy features with verifiable scarcity. If the migration proceeds smoothly and audits confirm supply integrity, the upgrade could significantly strengthen Zcash's long-term credibility.

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