Zcash will apply the Ironwood network upgrade on July 28 local time to address a vulnerability in Orchard, its privacy-focused transaction pool. Cointelegraph reported on July 10 local time that the upgrade is aimed at blocking the so-called Infinity Bug found in Orchard in May.
Once Ironwood is applied, the existing Orchard pool will be closed and new activity blocked. A new privacy pool will be introduced, and funds originating from Orchard must go through an accounting audit process before entering Ironwood. The process could provide clues to determine whether counterfeit Zcash (ZEC) was actually created through the Orchard bug.
The timeline was pushed back by a week from the original target of July 21. Shielded Labs previously said ecosystem participants such as exchanges, mining pools and wallets might not have enough time to prepare their systems for a mainnet transition at the end of July, and it considered a delay.
Shielded Labs said in June that Ironwood could show whether the Orchard vulnerability was exploited.
The price of ZEC fell 50 percent to $299.25 from $602.68 after the vulnerability was disclosed on June 3.
Chi-gyu Hwang
delight@d-today.co.kr