Zcash close to completing mathematical proof to prevent hidden inflationary vulnerability, ZEC up 12%

Odaily Zcash's native token ZEC rose over 12% on Tuesday after the team responsible for developing its privacy pool said it is nearing completion of a mathematical proof to confirm that there are no undetectable counterfeit minting vulnerabilities in the latest Zcash shielded pool.

The verification work, driven by Project Tachyon, is aimed at Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, with the goal of proving that the latest Zcash privacy pool has no undetectable minting vulnerabilities.

This development follows the disclosure last month of a serious counterfeit vulnerability in the Zcash Orchard shielded pool. At the time, the flaw sparked market concerns about the potential for undiscoverable, hidden inflation risks within Zcash's privacy system, causing ZEC to drop by over 40% within two days.

Developers say that with the help of AI-assisted formal verification, proof work that previously might have taken years has now been compressed to a few weeks. The news pushed ZEC back above $500, its highest level since early June. (The Block)