Zcash approaches completion of mathematical proof to prevent hidden inflation vulnerability, ZEC rises 12%

Odaily Planet Daily News Zcash's native token ZEC rose over 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 there are no undetectable counterfeit inflation vulnerabilities in the latest Zcash shielded pool.

This verification work, advanced by Project Tachyon, is targeted 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 does not possess undetectable inflation vulnerabilities.

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

Developers stated that, aided by AI-assisted formal verification, such proof work, which may have previously taken years to complete, has now been compressed to just a few weeks. The news propelled ZEC back above $500, its highest level since early June. (The Block)