Zcash Co-founder zooko: ZEC Current Supply Locally Verifiable, No Inflation Risks
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Zcash Co-founder zooko: ZEC Current Supply Locally Verifiable, No Inflation Risks
Zcash co-founder zooko (@zooko) posted that external concerns regarding the potential secret inflation of the ZEC supply are unfounded; anyone can verify on their local computer that the current total ZEC supply is 16,848,458 coins without waiting for months. Regarding the background, Zcash is undergoing a protocol migration from Orchard to Ironwood, and some users mistakenly believe they need to wait for the migration to complete to confirm whether an inflation issue exists. In response, Boston Zcash pointed out that Zcash's "turnstile" mechanism design ensures that 100% of Orchard funds will never fully migrate to Ironwood (due to reasons such as lost private keys), therefore "migration completion" itself is not the correct standard for judging whether inflation has occurred.
Navigating Web3 tides with focused insightsTechFlow reports that on July 30, Zcash co-founder zooko (@zooko) stated in a post that external concerns that ZEC supply might be secretly inflated are unfounded; anyone can independently verify on their local computer that the current total ZEC supply is 16,848,458 coins without needing to wait for months.
In terms of background, Zcash is undergoing a protocol migration from Orchard to Ironwood, and some users mistakenly believe they need to wait for the migration to complete to confirm whether there is an inflation issue. In response, Boston Zcash pointed out that Zcash's "roulette" mechanism design ensures that 100% of Orchard funds will never fully migrate to Ironwood (due to reasons such as lost private keys), therefore "migration completion" itself is not the correct standard for judging whether inflation has occurred.
