Zcash seals $1.7 billion shielded pool as Ironwood upgrade activates
CoinDesk 2026-07-28 14:35:28
Context: The Zcash network has undergone a significant upgrade, known as Ironwood, which has effectively sealed a shielded pool worth $1.7 billion. This upgrade has retired the Orchard protocol, which had a previously undetected counterfeiting bug that went unnoticed for four years. As a result, all coins within the shielded pool must now exit through a controlled gate that limits withdrawals to verified deposits.
Key Facts
- The Ironwood upgrade has activated a mechanism that requires all coins within the $1.7 billion shielded pool to exit through a gate that caps withdrawals at verified deposits, effectively sealing the pool.
- The upgrade retires the Orchard protocol, which had a counterfeiting bug that sat undetected for four years, posing a significant risk to the integrity of the Zcash network.
- The shielded pool, now sealed, holds a value of $1.7 billion, marking a significant milestone for the Zcash network and its users.