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Crypto
Zcash activates Ironwood mainnet upgrade, halts new inflows to Orchard
Zcash has activated the Ironwood upgrade on its mainnet and halted new inflows into the existing private pool, Orchard. Zcash Open Development Lab said the upgrade went live at block height 3,428,143. Orchard is shifting effectively to a withdrawals-focused state, with remaining funds required to pass through a “turnstile” structure to move to Ironwood. The upgrade also targets an Orchard vulnerability reported in late May, with no confirmed signs of exploitation.
Crypto
Zcash Ironwood upgrade nears, overhauls circulating supply verification
Zcash will apply the Ironwood network upgrade on July 28 at block height 3,428,143. The upgrade, slated as version NU6.3, effectively ends the existing Orchard shielded pool and introduces a new shielded pool using a modified Orchard circuit. It keeps a turnstile mechanism to prevent more ZEC from leaving than legitimately entered. Zcash Open Development Lab said it is two days from mainnet activation and described Ironwood as preserving privacy while enabling verification.
Crypto
Zcash Open Development Lab raises $25 million seed to boost Zcash privacy
Zcash Open Development Lab (ZODL) raised $25 million in a seed round from major cryptocurrency investors including Paradigm, a16z Crypto, Winklevoss Capital and Coinbase Ventures, The Block reported on March 9. ZODL said it will use the funds to accelerate development of Zcash privacy technology. The round also included Maelstrom, Balaji Srinivasan, David Friedberg and Hasib Qureshi. ZODL manages an open-source Zodl Zcash wallet based on ECC’s Zashi wallet.