Zcash (ZEC)

There's a lot of confusion about the recently patched Zcash bug. Here's how to actually understand it.

If the bug had been exploited before the patch (very unlikely it was), it would have looked like the shielded pool getting drained. Whoever minted the counterfeit shielded ZEC would want to sell fast, before anyone else found the same bug. And remember, the market for ZEC is almost entirely transparent ZEC, not shielded. You can't dump freshly minted shielded ZEC on Binance or Coinbase without unshielding it first.

The losers in that scenario are shielded holders who sit still. The transparent portion of Zcash is fully visible, so it's trivial to enforce that transparent ZEC never exceeds max supply. If you try to unshield more than the cap, you'll get stopped at the door.

So if you hold transparent ZEC (anyone trading, on an exchange, or doing price discovery on ZEC) there's no marginal effect on you. The loss falls entirely on shielded holders.

The team's next step is a new turnstile and a fresh shield

Update on https://t.co/G9DAqhBin3

- Added @noir_wallet
- Added a Security incidents section with details (incl. the Soundness vuln. found by @zooko Team and @ShieldedLabs)
- Added Upgrades with details + status (incl. NU 6.2 and NU 7)
- Added a form to include your project in the dashboard (please use the form instead of DMs, X DMs are kinda terrible)
- Added a Network analytics tab (from various sources), plus ZEC holdings
- Added $ZEC markets (CEXs and DEXs)

More to come!