Zcash sets July 28 Ironwood upgrade date

• Zcash (CRYPTO:ZEC) will launch its Ironwood network upgrade on July 28.
• The upgrade replaces the compromised Orchard pool with a new private transaction pool.
• Developers said the new system could reveal whether fake ZEC tokens were created through the bug.

Zcash (CRYPTO:ZEC) will launch its Ironwood network upgrade on July 28 to replace the compromised Orchard private transaction pool.

The upgrade fixes an "infinity" bug found in May and creates a new private pool for future shielded transactions.

“Zcash's Ironwood mainnet activation height has been set and tagged! All of the major organisations are committed to activation of NU6.3 at height 3428143, which is approximately July 28th at 8AM EST,” said Zcash core developer Sean Bowe.

Funds leaving the old Orchard pool must pass through an accounting checkpoint before entering the new Ironwood pool.

Shielded Labs said this process could help reveal whether anyone created counterfeit ZEC tokens using the Orchard bug.

Shielded Labs had suggested delaying the upgrade because exchanges, wallets and mining pools needed more preparation time.

Zcash also passed a supply milestone this week, with more than 16.8 million ZEC now issued, or over 80% of its 21 million maximum supply.

At the time of reporting, Zcash price was $489.98.