ZEC Briefly Tops $500 After Founder Says Formal Proof Is Nearly Ready
The post ZEC Briefly Tops $500 After Founder Says Formal Proof Is Nearly Ready appeared on BitcoinEthereumNews.com. Following Orchard’s hidden bug, Zcash said Ironwood’s formal verification is close to proving it has no undetectable counterfeiting bugs. Zcash (ZEC) briefly climbed above $500 after founder Zooko Wilcox-O’Hearn said the project’s Tachyon Formal Verification initiative is close to delivering a mathematical proof that the latest Zcash shielded pools contain no undetectable counterfeiting bugs. Wilcox said the project is “on the verge of producing a mathematical proof” that would eliminate the long-standing tradeoff between privacy and the ability to verify a cryptocurrency’s money supply. Hidden Bug Scare Project Tachyon has shared new details about its verification work for Zcash’s upcoming Ironwood shielded pool, following the recent discovery of a vulnerability in Orchard. In May, Shielded Labs security researcher Taylor Hornby identified a counterfeiting flaw in Orch