Zcash Proposes “Ironwood” Upgrade to Enhance Supply Confidence
- Zcash founder Zooko Wilcox proposed the “Ironwood” upgrade to address supply concerns.
- The proposal aims to verify the circulating supply of Zcash, enhancing transparency.
- Zcash’s market cap recovered from $5 billion to nearly $7.5 billion after the announcement.
- Despite recovery, the market cap remains about $3 billion below its previous peak of $10.48 billion.
- The upgrade includes AI-assisted security auditing and new transaction logic to prevent future bugs.
The “Ironwood” upgrade proposal by Zooko Wilcox is designed to restore confidence in Zcash‘s supply by allowing users to verify its circulating amount, addressing a critical bug that previously allowed counterfeit tokens. The proposal coincides with a partial recovery in Zcash’s market value, reflecting renewed investor confidence.
With a market cap rebound from $5 billion to nearly $7 .5 billion , Zcash still trails its previous high by approximately $3 billion . The proposed enhancements aim to bolster security and transparency for users moving forward . (Source)
