Zcash Token ZEC Rises Over 12% as Team Nears Proof on Shielded Pool Inflation Risk

Zcash’s native token, ZEC, rose more than 12% on Tuesday after the team developing its privacy pool said it is close to completing a mathematical proof intended to confirm there is no undetectable counterfeit inflation vulnerability in the latest Zcash shielded pool. According to Odaily, the verification work is being advanced by Project Tachyon for Zcash’s upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox said the project is on the verge of producing the proof, with the goal of demonstrating that the newest Zcash privacy pool does not contain an undetectable inflation bug. The update follows last month’s disclosure of a serious counterfeiting vulnerability in the Zcash Orchard shielded pool. Developers said the issue raised market concerns that Zcash’s privacy system could carry hidden inflation risks that might not be detected, and ZEC at one point fell more than 40% over two days. Developers said AI-assisted formal verification has reduced proof work that previously could have taken years to complete to a matter of weeks. The news pushed ZEC back above $500, its highest level since early June.