Zcash developers are implementing a critical network upgrade to address a vulnerability found in the Orchard shielded pool. This proactive fix, identified during a routine security audit over the weekend, necessitated a temporary pause on all Orchard transactions. While the issue was fortunately not exploited, the solution required a protocol-level patch that halted the ability to send or receive funds via Orchard. Importantly, both transparent ZEC transactions and those using the older Sapling shielded pool remained fully operational throughout this period.
Key Takeaways
- A bug in Zcash’s newest shielded pool, Orchard, was discovered during a security audit.
- Developers are deploying a protocol-level patch to fix the vulnerability.
- Orchard transactions were temporarily paused but have since resumed.
- Transparent and Sapling transactions were unaffected.
- Despite the temporary pause, the price of ZEC saw a significant surge.
The initial timeline for the restoration of Orchard mining was set for June 2nd, 14:00 EDT. However, several mining pools requested additional time to complete deployment and rigorous quality assurance checks across different time zones. The Zcash Open Development Lab (ZODL) team subsequently adjusted the expected resumption of Orchard transactions to approximately 23:00 EDT.
zcash devs: yeah so there’s this bug we’re fixing don’t think anyone has exploited, orchard pool shielded transactions are paused until ~ 11pm et. miners need to hard fork. we’ll let you know what the issue was after fork. market: understood. send it to $600 with haste.
The market’s reaction to this development has been remarkably bullish. Traders aggressively bought ZEC, driving the price up by over 14% on June 2nd, pushing it well past the $600 mark. This surge suggests strong confidence in the Zcash development team’s ability to swiftly and effectively manage network issues, viewing the situation as a testament to the network’s robust security measures rather than a fundamental weakness.
According to the portal: www.bankless.com