Svmuu News: Zcash’s native token, ZEC, rose more than 12% on Tuesday after the team responsible for developing its privacy pool stated that it is nearing completion of a mathematical proof to confirm that the latest Zcash shielded pool is free of undetectable counterfeit issuance vulnerabilities.
This verification effort, led by Project Tachyon, is focused on Zcash’s upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof aimed at demonstrating that the latest Zcash privacy pool is free of undetectable counterfeiting vulnerabilities.
This development follows last month’s disclosure of a serious forgery vulnerability in Zcash’s Orchard shielded pool. At the time, the vulnerability sparked market concerns that Zcash’s privacy system might harbor undetectable risks of covert inflation, causing ZEC to plummet by more than 40% within two days.
Developers say that with AI-assisted formal verification, this type of proof—which might have taken years to complete in the past—has now been compressed to a matter of weeks. The news propelled ZEC back above $500, its highest level since early June. (The Block)