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Zcash is close to completing a mathematical proof for a hidden inflation vulnerability, ZEC rose 12%.
The verification work is being advanced by Project Tachyon, targeting Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, aiming to prove that the latest Zcash privacy pool does not have an undetectable counterfeit issuance vulnerability.
This progress stems from last month's disclosure that Zcash's Orchard shielded pool had a serious counterfeit vulnerability. At that time, the vulnerability caused market concerns that Zcash's privacy system might have an undetectable hidden inflation risk, and ZEC once fell over 40% within two days.
Developers say that with the help of AI-assisted formal verification, such proof work that might have taken years to complete in the past has now been compressed to weeks. The news pushed ZEC back above $500, the highest level since early June.