Zcash to Launch Ironwood Update on July 28

The Zcash network plans to implement the NU6.3 update, known as Ironwood, on July 28. The hard fork, which will activate at block 3,428,143, aims to limit unverified ZEC assets following a security vulnerability detected in the Orchard pool. With this update, the existing Orchard pool will be closed, and the amount of ZEC that can exit this pool will be restricted. Zcash, as a privacy-focused cryptocurrency network, uses protected pools that conceal sender, receiver, and amount information in transactions. Zcash founder Zooko Wilcox stated on July 19 that network developers had not found any evidence of unauthorized token production. The Ironwood update will also introduce a mechanism to regulate withdrawals from the old pool. After the update, ZEC transactions in the existing Orchard pool will cease, and operations will be conducted through a new protected pool. Users will need to use compatible wallet tools to transfer their assets to the new system. The vulnerability was identified by researcher Taylor Hornby on May 29 and could have allowed for the creation of fake ZEC. Developers halted Orchard activity after the vulnerability was discovered.

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