Zcash has activated its Ironwood upgrade, a significant update that impacts the cryptocurrency's shielded pool. According to reporting from CoinDesk, this upgrade seals a $1.7 billion shielded pool. The Ironwood upgrade also retires Orchard, a previous protocol where a counterfeiting bug had gone undetected for four years.
With the Ironwood upgrade, every coin inside the shielded pool now has to leave through a gate that caps withdrawals at verified deposits. This change is designed to enhance the security and integrity of the Zcash network.
Zcash is a cryptocurrency that focuses on providing private and secure transactions. The Ironwood upgrade is the latest development in the cryptocurrency's evolution.