Zcash's Ironwood Network Upgrade Set to Launch on July 28

Zcash's Ironwood network upgrade, aimed at resolving an "infinity" bug discovered in May on the privacy-focused blockchain's main private transaction pool, Orchard, is set to go live on July 28. The upgrade will replace the compromised Orchard pool and may provide clues about whether counterfeit Zcash (ZEC) tokens were created via a recent bug.

Key Features of Ironwood Upgrade

■Closure of the current Orchard pool

■Prevention of new activity in the pool

■Setup of a new private pool

■Accounting checkpoint for funds leaving Orchard

Zcash's Market Performance

The price of ZEC plummeted 50% to $299.25 from $602.68 after the disclosure of the Orchard bug on June 3. The price has made a partial recovery in the weeks following and is trading at $492.61 at the time of writing.

Zcash's Total Supply

Zcash has a maximum supply of 21 million ZEC, and over 80% of this supply has been issued, with 16,806,723 ZEC currently in circulation.

The Ironwood upgrade could be a significant development for the cryptocurrency market. It may enhance the security and stability of Zcash, but the market's reaction remains to be seen.