Zcash is close to completing a mathematical proof to prevent hidden inflation vulnerabilities, ZEC rises 12%

Odaily Planet Daily News: Zcash's native token ZEC rose over 12% on Tuesday, after the team responsible for its privacy pool development stated that it is close to completing a mathematical proof to confirm that there are no undetectable counterfeit inflation vulnerabilities in the latest Zcash shielded pool.

This verification work is being advanced by Project Tachyon for 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 does not have undetectable inflation vulnerabilities.

This development stems from the disclosure last month of a serious counterfeit vulnerability in the Zcash Orchard shielded pool. At the time, this vulnerability led to market concerns that there might be undiscoverable, hidden inflation risks within Zcash's privacy system, causing ZEC to drop over 40% within two days.

Developers claim that with the help of AI-assisted formal verification, such proof work, which could have taken years in the past, can now be compressed to a few weeks. The news pushed ZEC back above $500, the highest level since early June. (The Block)